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Costco Wholesale Corp. has reported higher-than-expected profit due to moderating prices and increased consumer spending. The big-box retailer saw a rise in earnings per share, with shoppers purchasing more non-food items such as home furnishings and tires. Costco's membership model and affluent customer base have historically insulated it from macroeconomic challenges. The company also experienced an increase in e-commerce sales and raised its membership fees in the US and Canada. However, some changes implemented by Costco, such as scanning membership cards at the entrance and packaging rotisserie chickens differently, may create friction with customers. US retailers are seeing mixed results, with consumers being selective and making trade-offs ahead of the holiday season. Costco is preparing for a potential port strike and has contingency plans in place. [Extracted from the article]

Costco Wholesale Corp. has reported higher-than-expected profit, indicating that consumer spending remains strong despite rising costs. The company's earnings of $5.29 per share for the quarter ended September 1 exceeded Wall Street analysts' estimates. While shopper traffic increased in the US, visitors spent slightly less per trip. Costco also gained more paid members, with approximately 90% renewing their membership during the quarter. The company has seen growth in non-food items and is investing in online sales. [Extracted from the article]

Bank of Montreal (BMO) will receive a capital boost in the fourth quarter after winning a legal victory in a Ponzi scheme case. The Canadian bank will record an additional C$875 million ($644 million) after-tax in the fourth quarter, reversing an earlier provision it took related to the scheme orchestrated by Tom Petters. Petters convinced investors he was financing the purchase of consumer electronics for resale, but instead used money from new investors to pay returns to older ones. BMO's regulatory capital levels are expected to be supported by this reversal. [Extracted from the article]

Bank of Montreal (BMO) will receive a capital boost in the fourth quarter after winning a legal victory in a Ponzi scheme case. The Canadian bank will record an additional C$875 million ($644 million) after-tax in the fourth quarter, reversing an earlier provision it took related to the scheme orchestrated by Tom Petters. Petters convinced investors he was financing the purchase of consumer electronics for resale, but instead used money from new investors to pay returns to older ones. The reversal is expected to support BMO's regulatory capital levels and increase its reported earnings per share. [Extracted from the article]

Kroger Co., a grocery-store operator based in Cincinnati, has raised its full-year sales outlook due to increased consumer spending on groceries and other essential items. The company expects comparable sales, excluding fuel, to rise between 0.75% and 1.75%. Kroger's success can be attributed to attracting more customers through low prices and personalized deals. This trend of prioritizing spending on food and staples has benefited other essentials-focused retailers like Walmart and Target, while hurting retailers selling big-ticket items. Kroger's shares have risen 2.2% in trading, and the company is currently defending its proposed acquisition of Albertsons Cos. in court. [Extracted from the article]

Delta Air Lines expects its full-year profit to be in line with its previous guidance, despite a computer system outage that led to flight cancellations. The airline predicts a full-year profit of around $6.50 per share, excluding the impact of the outage. Delta was the most affected among US airlines, with revenue for the third quarter expected to be flat or up 1% compared to last year. However, the company is reporting improving unit revenue trends, partly due to a slowdown in domestic capacity expansion. Other airlines, such as Alaska Air Group and JetBlue Airways, have also adjusted their profit and revenue outlooks. Delta's non-fuel unit costs are expected to increase by about 5.5% in the current quarter, including expenses related to passenger reimbursements and misplaced crews during the outage. [Extracted from the article]

Kroger Co., a grocery-store operator based in Cincinnati, has raised its full-year sales outlook due to increased consumer spending on groceries and other essential items. The company expects comparable sales, excluding fuel, to rise between 0.75% and 1.75%. Kroger's success can be attributed to attracting more customers through low prices and personalized deals. This trend of prioritizing spending on food and staples has benefited other retailers such as Walmart and Target, while negatively impacting those selling big-ticket items like Home Depot. Kroger's shares have risen 2.2% in trading, and the company is currently defending its proposed acquisition of Albertsons Cos. in court. [Extracted from the article]

(Bloomberg) -- Alaska Air Group Inc. boosted its outlook for third-quarter profit on strong summer demand and lower-than-expected fuel costs.It now expects adjusted earnings per share of $2.15 to $2.25, compared with its previous estimate of $1.40 to $1.60, the carrier said in a filing on Thursday.The shares jumped 3.8% in trading before markets open in New York."Revenue has performed better than anticipated, driven by additional revenue in July related to CrowdStrike disruptions across the industry and stronger performance in August and September," the airline said.©2024 Bloomberg L.P.By Frank ConnellyReported by Author [Extracted from the article]

Delta Air Lines Inc. expects its full-year profit to be around $6.50 per share, which is in line with its previous estimate. This projection does not take into account the impact of a computer system outage caused by CrowdStrike Holdings Inc., which resulted in numerous flight cancellations. Despite this setback, Delta does not anticipate any lasting effects from the glitch. The airline's shares rose by 5.8% in premarket trading following this announcement. [Extracted from the article]

Oracle Corp. has reported quarterly profit and bookings that exceeded estimates, driven by strong demand for its cloud computing business. The company's earnings per share were $1.39, beating the estimated $1.33, and revenue increased by 7% to $13.3 billion. Oracle is focused on expanding its cloud infrastructure business to compete with Amazon, Microsoft, and Google, and has seen success with generative artificial intelligence workloads. The company also announced a new agreement to make its database available on Amazon Web Services, following similar deals with Microsoft and Google. Oracle's shares rose by 9% in late trading after the announcement. [Extracted from the article]

Oracle Corp. saw a jump in its stock price after reporting higher-than-expected quarterly profit, driven by strong demand for its cloud computing services. The company's earnings per share were $1.39, beating analysts' estimates of $1.33, while revenue increased by 7% to $13.3 billion. Oracle is focused on expanding its cloud infrastructure business to compete with Amazon, Microsoft, and Google, and has recently made its database available on Amazon Web Services. The company's cloud revenue for the first quarter increased by 21% to $5.6 billion, and its remaining performance obligation of $99 billion is seen as a sign of sustained growth. [Extracted from the article]

Oracle Corp. has reported better-than-expected quarterly profit, with earnings of $1.39 per share and revenue of $13.3 billion. The company's cloud computing business, fueled by demand for artificial intelligence, has been a major contributor to its success. Oracle is focused on expanding its cloud infrastructure business to compete with Amazon, Microsoft, and Google. The company has also made agreements with Amazon, Microsoft, and Google to modernize its database business. Oracle's shares gained about 7% in extended trading after the announcement. [Extracted from the article]

Chinese stocks are on the verge of reaching a five-year low due to bearish sentiment and a lack of earnings and economic recovery. The CSI 300 Index has declined by over 13% since its high in May, and further decline would take it to levels not seen since early 2019. The government's attempts to stimulate the economy and prop up share prices have been unsuccessful, with deflationary pressure, weak consumption, and a property slump eroding hopes of a near-term economic recovery. Even long-time China bulls, such as UBS Global Wealth Management and JPMorgan Chase, have downgraded the country's equities due to concerns about property-led demand, underwhelming stimulus measures, and geopolitical tensions. The slump in Chinese equities has coincided with a growing consensus among major banks that the country will miss its growth target this year. However, some investors believe that Chinese equities' low valuations offer a good risk-reward opportunity. The MSCI China Index is trading at less than nine times forward price-to-earnings, compared to 24 for its emerging market rival India. The CSI 300 Index is approaching levels seen during the February rout, when exit orders at structured products and quantitative funds exacerbated a selloff. Earnings per share for the MSCI China Index fell 4.5% in the second quarter, its worst performance in five quarters. The benchmark CSI 300 Index is down nearly 7% this year and is on track for a fourth [Extracted from the article]

Elis SA, a French company that provides uniform and linen cleaning services, has approached Vestis Corp., a US company, about a potential acquisition. However, there is no guarantee that the discussions will result in a deal. Elis's stock dropped significantly in response to the news, while Vestis's stock initially rose before declining slightly. Vestis had previously lowered its revenue growth and profitability guidance, leading to a significant drop in its share price. Elis has stated that any potential deal would need to meet certain criteria, including maintaining a good credit rating and adding to earnings per share in the first year. [Extracted from the article]

Verizon Communications Inc., the largest US phone company, has agreed to acquire Frontier Communications Parent Inc. for approximately $9.59 billion in order to expand its high-speed internet business. This move is part of Verizon's strategy to increase its fiber-optic assets and capacity for customers' growing data usage. The deal will combine Frontier's fiber network with Verizon's existing portfolio, including its Fios offering. The transaction is expected to close in about 18 months, pending approval from shareholders and regulators. [Extracted from the article]

Verizon Communications Inc. has agreed to acquire Frontier Communications Parent Inc. for $9.6 billion in an effort to expand its high-speed internet business. Frontier's investors will receive $38.50 per share, a 37% premium to the closing price before news of the deal broke. The acquisition will allow Verizon to add Frontier's fiber network to its existing portfolio, increasing its customer base and making it more competitive in the US market. The deal is expected to close in about 18 months, pending approval from shareholders and regulators. [Extracted from the article]

Taiwan's Shin Kong Financial Holding Co., the country's fifth-largest financial conglomerate, has reported a profit of NT$20.5 billion ($638 million) in the first half of the year. The company's insurance unit benefited from capital gains on stocks and improved hedging costs. Shin Kong is currently the subject of a bidding war between CTBC Financial Holding Co. and Taishin Financial Holding Co., with Shin Kong expressing a preference for a merger with Taishin. The successful bidder would become Taiwan's largest financial company. [Extracted from the article]

Taiwanese firm Shin Kong Financial Holding Co. has reported a net income of NT$20.5 billion ($638 million) in the first half of 2024, compared to a loss in the previous year. The company's insurance unit benefited from capital gains on stocks and improved hedging costs. CTBC Financial Holding Co. has made a bid to acquire a 51% stake in Shin Kong, but the company has agreed to a smaller offer from Taishin Financial Holding Co. Shin Kong's life insurance unit has also shown a rebound in its capital adequacy ratio. S&P Global Inc. has placed ratings on various entities of the Shin Kong group on CreditWatch with developing implications of the merger. [Extracted from the article]

Ulta Beauty Inc. has revised its sales forecast due to a decrease in consumer demand for makeup and cosmetics in the US. The company now expects net sales of $11 billion to $11.2 billion for the year, down from its previous estimate. Ulta has experienced a decline in sales as shoppers become more cautious with their spending and focus on value. The company is also facing increased competition from rivals such as Sephora, Target, Walmart, and online sellers like Amazon. Ulta's CEO, Dave Kimbell, acknowledged that their market share is being challenged, particularly in the prestige makeup and hair care categories. The company's disappointing results indicate the need for a turnaround plan. [Extracted from the article]

Ulta Beauty Inc. has revised its sales forecast due to a decrease in consumer demand for makeup and cosmetics in the US. The company now expects net sales of $11 billion to $11.2 billion for the year, down from its previous estimate. Ulta has experienced a decline in sales as shoppers become more cautious with their spending and focus on value. The company is also facing increased competition from rivals such as Sephora, Target, Walmart, and online sellers like Amazon. Ulta's CEO, Dave Kimbell, acknowledged that their market share is being challenged, particularly in the prestige makeup and hair care categories. The company's disappointing results indicate the need for a turnaround plan. [Extracted from the article]

(Bloomberg) -- Best Buy Co.'s raised its annual profit guidance in a sign that demand for electronics and appliances could start to improve.The retailer said adjusted earnings per share for the year are expected to be as high as $6.35, up from $6.20 previously. Comparable sales for the second quarter also declined less by than what Wall Street analysts were expecting.The company's shares rose 7% in premarket trading in New York.©2024 Bloomberg L.P.By Jaewon KangReported by Author [Extracted from the article]

Canadian Imperial Bank of Commerce (CIBC) has exceeded analyst estimates in its fiscal third quarter earnings report. The bank set aside less money than expected to cover potentially bad loans and stated that it had resolved most of the issues in its US office portfolio. CIBC reported earnings of C$1.93 per share, beating forecasts of C$1.74 per share. The bank also set aside C$483 million for credit losses, better than the C$551 million predicted by analysts. CIBC's Canadian personal and business banking unit saw a 26% increase in profit. [Extracted from the article]

Kohl's Corp. has raised its full-year profit outlook due to cost-cutting measures and reduced inventory levels. The company now expects adjusted earnings per share of up to $2.25, surpassing Wall Street's expectations. However, Kohl's has experienced a tenth consecutive quarter of declining sales and has lowered its comparable sales guidance. The company has struggled to attract shoppers who are increasingly focused on essentials and seeking deals. Kohl's has introduced partnerships with brands like Sephora and Babies"R"Us to drive traffic and sales, but experts warn that relying on other brands may not be a long-term solution. [Extracted from the article]

Kohl's Corp. has raised its full-year profit outlook due to cost-cutting measures and reduced inventory levels. The company now expects adjusted earnings per share of up to $2.25, surpassing Wall Street's expectations. However, Kohl's has experienced a tenth consecutive quarter of declining sales and has lowered its comparable sales guidance. The retailer has struggled to attract shoppers who are increasingly focused on essentials and seeking deals. Kohl's has introduced partnerships with brands like Sephora and Babies"R"Us to drive traffic and sales, but some analysts believe that relying on other brands is not a long-term solution. [Extracted from the article]

J.M. Smucker Co., the owner of Twinkies and Folgers, has cut its guidance for the year due to consumers struggling with higher costs and persistent price inflation for coffee purchases. The CEO, Mark Smucker, stated that consumers have less discretionary spending, leading to a decrease in sales of pet snacks and sweet bake snacks. The company expects adjusted earnings per share of $9.60 to $10 for the year, down from the previous estimate of $9.80 to $10.20. Smucker's shares fell in premarket trading as a result. [Extracted from the article]

Target Corp. has reported a turnaround in sales growth in the second quarter, with comparable sales rising 2% and earnings per share beating expectations. This marks a positive shift for the retailer after a period of sales declines caused by consumer pullback due to higher inflation and interest rates. Target's focus on lower-priced necessities, price cuts on essentials, and efforts to draw in consumers with trendy and affordable products have contributed to the improved performance. However, the company remains cautious about the broader economy and maintains a conservative outlook for the year. [Extracted from the article]

Zoom Video Communications Inc. has projected better-than-expected sales for the current quarter, indicating that its expanded range of products is gaining traction with business customers. The company expects revenue of $1.16 billion to $1.17 billion and adjusted earnings of about $1.30 per share. Zoom is focused on providing more tools for business customers, including phone systems, contact centers, and an artificial intelligence assistant. The company's shares rose about 2% in extended trading following the announcement. [Extracted from the article]

Zoom Video Communications Inc. has projected better-than-expected sales growth for the current quarter, surpassing analysts' estimates. The company plans to expand its suite of products, including phone systems, contact centers, and an artificial intelligence assistant, to cater to its business customers. Zoom's revenue for the period ending in October is expected to be between $1.16 billion and $1.17 billion, with a profit of approximately $1.30 per share. Additionally, the company announced the departure of its Chief Financial Officer, Kelly Steckelberg, and the search for a successor has begun. [Extracted from the article]

Target Corp. has experienced a turnaround in the second quarter, with a 2% increase in comparable sales and higher-than-expected earnings per share. This growth is attributed to consumers taking advantage of sales and purchasing discretionary products. Target's efforts to lower prices and offer new assortments in discretionary categories have resonated with shoppers, leading to increased traffic in stores and online sales. However, the company remains cautious about the broader economy and maintains its guidance of flat to 2% growth in comparable sales for the year. Other retailers, such as Walmart and TJX Cos., have also seen success by focusing on necessities and offering bargains. [Extracted from the article]

Target Corp. has reported a 2% increase in comparable sales in the second quarter, ending a streak of sales declines. The company's earnings per share also exceeded expectations. Target attributes the turnaround to improved discretionary spending, higher traffic in stores, and rising online sales. The retailer has focused on lower prices, a new assortment of products, and a loyalty program to attract shoppers. Despite the positive results, Target remains cautious about the broader economy and maintains its guidance for flat to 2% growth in comparable sales for the year. [Extracted from the article]

Target Corp. has reported a 2% increase in comparable sales in the second quarter, ending a streak of sales declines. The company attributes the growth to improved discretionary spending and higher traffic in stores, as well as rising online sales. Target has implemented price cuts on essential items and focused on its loyalty program to attract consumers. While the company remains cautious about the broader economy, it has raised its earnings per share outlook due to strong profit performance. This turnaround contrasts with other retailers, such as Home Depot and Lowe's, who have cut their outlooks. [Extracted from the article]

Target Corp. has reported a turnaround in sales growth in the second quarter, with comparable sales rising 2% and earnings per share beating expectations. This marks a positive shift for the retailer after a period of sales declines caused by consumer pullback due to higher inflation and interest rates. Target's focus on lower-priced necessities, price cuts on essentials, and efforts to draw in consumers with trendy and affordable products have contributed to the improved performance. However, the company remains cautious about the broader economy and maintains a conservative outlook for the year. [Extracted from the article]

Johnson & Johnson has announced that it will acquire V-Wave Ltd. for up to $1.7 billion. The deal includes an upfront payment of $600 million and additional payments of up to $1.1 billion based on business goals. V-Wave is developing an implanted device called an interatrial shunt to assist heart failure patients with reduced ejection fraction. The device has received breakthrough status from the US Food and Drug Administration and has the potential to be the first of its kind on the market. This acquisition is part of J&J's strategy to focus on innovative medicines and devices in high-growth markets. [Extracted from the article]

Quebec-based convenience store operator Alimentation Couche-Tard Inc. is planning to acquire global rival Seven & i Holdings, but the deal will require significant financing and cost-cutting measures. Analysts estimate that Couche-Tard will need to raise between $12 billion and $18 billion in equity to cover the transaction price and maintain leverage. The deal could potentially result in a 30% increase in earnings per share for Couche-Tard. However, there are uncertainties surrounding the offer price, deal structure, and regulatory hurdles. The transaction could take up to two years to complete. Couche-Tard has a history of successful deals, but this acquisition represents a significant expansion into unfamiliar markets. [Extracted from the article]

Johnson & Johnson is set to acquire V-Wave Ltd. for up to $1.7 billion, in an effort to expand its development of heart failure treatments. The deal includes an upfront payment of $600 million, with the potential for an additional $1.1 billion based on meeting business goals. V-Wave is working on an implanted device called an interatrial shunt, which has received breakthrough status from the FDA and could be the first of its kind on the market. This acquisition aligns with J&J's strategy to focus on innovative medicines and devices with high growth potential. [Extracted from the article]

Victoria's Secret has hired Hillary Super, the CEO of Rihanna's lingerie brand Savage X Fenty, to lead the struggling retailer's turnaround. Super will replace Martin Waters as CEO and brings nearly three decades of retail experience to the role. Victoria's Secret has been facing challenges such as declining demand, increased competition, and allegations of workplace misconduct. Super will be the third CEO in four years for the company. The stock has performed poorly since its debut, and the company expects sales to be down in the second quarter. [Extracted from the article]

Illumina Inc.'s shares fell after its plan to increase sales through easier DNA sequencing and improved data analysis failed to impress investors. The company's strategy aims for sales growth of 8% to 9% by 2027 and earnings per share growth of at least 10% over the next three years. Illumina also announced a partnership with the Broad Institute of MIT and Harvard. The CEO wants to revive the core business after a failed takeover attempt and a period of flat revenue. Illumina dominates the market for DNA decoding machines and is looking for new ways to offset sales decline. The company has seen a slowdown in its China business and expects revenue to decline this year. The CEO envisions a future where genomic sequencing becomes routine in medical care. [Extracted from the article]

Illumina Inc.'s shares fell after its plan to increase sales through easier DNA sequencing and improved data analysis failed to impress investors. The company's strategy aims for sales growth of 8% to 9% by 2027 and earnings per share growth of at least 10% over the next three years. Illumina also announced a partnership with the Broad Institute of MIT and Harvard. The CEO wants to revive the core business after a failed takeover attempt and a period of flat revenue. Illumina dominates the market for DNA decoding machines and is looking for new ways to offset sales decline. The company has seen a slowdown in its China business and expects revenue to decline this year. The CEO envisions a future where genomic sequencing becomes routine in medical care. [Extracted from the article]

Illumina Inc. plans to boost sales growth by introducing new tools for simplifying DNA sequencing and expanding data analysis. The company aims for sales growth of 8-9% by 2027 and earnings per share growth of at least 10% over the next three years. Illumina also announced a partnership with the Broad Institute of MIT and Harvard. CEO Jacob Thaysen wants to revive the core business after a failed takeover attempt and a period of flat revenue. Illumina dominates the DNA decoding machine market and is now seeking ways for customers to utilize its machines more effectively. The company has faced challenges, including regulatory issues and a slowdown in its China business. However, Thaysen envisions a future where Illumina's machines become routine in medical care and genomic sequencing plays a crucial role in disease diagnosis. [Extracted from the article]

Engineering firm WSP Global Inc. has agreed to acquire Power Engineers Inc. for $1.8 billion, with financial support from Singapore's sovereign wealth fund and three Canadian pension funds. WSP CEO Alexandre L'Heureux stated that the deal is a significant step towards positioning the company at the forefront of the energy transition. Power Engineers, based in Idaho, provides engineering and environmental consulting services to various industries, including renewable energy. The acquisition will be financed through new loans and the sale of $1 billion in stock, and it is expected to increase WSP's exposure to the US market and contribute to its projected investments in cleaner electrical grids, infrastructure, and real estate. [Extracted from the article]

Assicurazioni Generali SpA, an insurance company based in Trieste, Italy, reported a 24% decrease in second-quarter profit compared to the previous year. This decline was attributed to claims resulting from storms and flooding in Europe. The company's non-life operating income also decreased, offsetting higher operating profit in the life insurance and asset and wealth management segments. CEO Philippe Donnet is focusing on high-margin insurance segments and plans to announce a new strategy in January 2025. The company's non-life operating income was negatively impacted by natural catastrophes and a lower benefit from discounting. However, the life insurance and asset and wealth management segments saw an increase in operating income. [Extracted from the article]

Restaurant Brands International Inc., the owner of Burger King, experienced lower-than-expected sales growth in the second quarter, reflecting a broader decline in consumer spending on dining out. While Tim Hortons' Canada business performed better than anticipated, weakness in the rest of the company's operations offset this. The global trend of consumers cutting back on dining out due to higher prices and reduced disposable income has prompted chains like Burger King to offer deals to attract customers. Despite ongoing efforts to remodel locations and increase advertising, Burger King's sales in the US remained flat compared to the previous year, although it outperformed McDonald's. Restaurant Brands' earnings per share were in line with expectations, and the company reaffirmed its long-term growth guidance. [Extracted from the article]

Elf Beauty Inc. has reported quarterly sales that exceeded expectations, with sales of $324.5 million for the three months ended June 30. The company's affordable makeup and skincare brand has attracted cost-conscious consumers, leading to market share gains and strength in both retailer and e-commerce channels. Despite the positive sales results, Elf's shares slid 12% in extended trading due to its annual sales forecast falling short of analyst estimates. Elf sets itself apart from its competitors with relatively inexpensive prices, making it an attractive option for consumers looking to participate in beauty while curbing their spending. [Extracted from the article]

Elf Beauty Inc. has reported quarterly sales of $324.5 million, surpassing expectations and boosting its outlook for the fiscal year. The affordable makeup and skincare brand has attracted cost-conscious consumers with its low prices, gaining market share and performing well in both retailer and e-commerce channels. Elf's average product price is around $6.50, making it an attractive option for consumers looking for affordable beauty products. The company is considering raising prices to offset the impact of potential tariffs on imports from China. Elf has increased its annual sales forecast and adjusted earnings per share for the year. [Extracted from the article]

Restaurant Brands International Inc., the owner of Burger King, experienced lower-than-expected sales growth in the second quarter due to a slump in the restaurant industry. While Tim Hortons' Canada business performed better than anticipated, weakness in the rest of the company's operations offset this. The decline in sales is attributed to consumers worldwide cutting back on dining out due to higher prices and reduced spending. Burger King's sales in the US remained flat despite efforts to remodel locations and increase advertising. However, the chain outperformed McDonald's, whose American business declined slightly. Restaurant Brands reaffirmed its long-term growth guidance. [Extracted from the article]

Under Armour Inc. has reported better-than-expected results and raised its guidance, indicating progress under the leadership of founder Kevin Plank. The company has raised its annual forecast for adjusted earnings per share and its shares have surged by 15%. Plank is implementing a restructuring effort, including staff cuts and a reduction in the number of products sold, in order to improve the company's operating model and boost gross margin. Under Armour's leadership ranks are also shifting, with the addition of former Adidas president Eric Liedtke as executive vice president of brand strategy. [Extracted from the article]

Under Armour Inc. has reported better-than-expected results and raised its guidance as the company undergoes restructuring under founder Kevin Plank. The company has increased its annual forecast for adjusted earnings per share and aims to reposition the Under Armour brand. Plank is implementing changes to the company's operating model and supply chain processes to achieve cost savings, including staff reductions. Under Armour also plans to reduce discounts and focus on boosting gross margin. The company's leadership ranks have also seen changes, with the addition of former Adidas president Eric Liedtke as executive vice president of brand strategy. [Extracted from the article]

Restaurant Brands International Inc., the owner of Burger King, experienced lower-than-expected sales growth in the second quarter. The company missed estimates for sales growth at established restaurants, despite a strong performance from Tim Hortons' Canada business. This decline in sales is attributed to consumers worldwide cutting back on dining out due to higher prices and reduced spending. Burger King's sales in the US remained flat compared to the previous year, despite efforts to remodel locations and increase advertising. The company's earnings per share were in line with expectations, and they reaffirmed their long-term growth guidance. [Extracted from the article]

Under Armour Inc. has reported better-than-expected results and raised its guidance as the company undergoes restructuring under founder Kevin Plank. The company has increased its annual forecast for adjusted earnings per share and its shares have risen by 7.7%. Plank, who returned as CEO in April, is implementing changes to the company's operating model and supply chain processes in order to achieve cost savings. The company has also announced a new executive vice president of brand strategy, Eric Liedtke, who will focus on operations and consumer engagement. [Extracted from the article]