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Wednesday, June 7, 2023

Brown-Forman Initiates FY24 Organic Net Sales Growth Outlook - Update

While reporting financial results for the fourth quarter on Wednesday, beverage alcohol maker Brown-Forman Corp. (BFA, BFB) said it now expected organic net sales growth in the 5% to 7% range to reflect the strength of its portfolio of brands, pricing strategy and strong consumer demand.

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Inditex Stock Up On Q1 Profit Growth; Sees Flat Margin In FY23

Shares of Inditex SA were gaining around 6 percent in the morning trading in Spain after the clothing firm that owns Zara reported Wednesday significant growth in its first-quarter profit on higher revenues as well as the absence of a prior year provision. Regarding the second quarter to date, the company said its store and online sales in constant currency between May 1 and June 4 increased 16..

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Cracker Barrel Guides Q4 Sales Growth Below Estimates; Declares Dividend - Update

While reporting financial results for the third quarter on Tuesday, Cracker Barrel Old Country Store, Inc. (CBRL) said it anticipates revenue growth of 1 to 3 percent for the fourth quarter.

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Chico's FAS Q1 Results Miss Estimates; Trims FY23 Outlook; Stock Down 8%

Fashion retailer Chico's Fas Inc. (CHS) on Tuesday reported net income for the first quarter of $39.91 million or $0.32 per share, higher than $34.93 million or $0.28 per share in the year-ago quarter.

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Macy's, Dollar General Q1 Profits Decline

Retailers Macy's, Inc. (M) and Dollar General Corp. (DG) reported on Thursday that net profits for the first quarter declined from last year, with Macy's topping estimates, while Dollar General missed it. Net sales at both retailers missed expectations. Both Macy's and Dollar General also slashed their guidance for the full-year 2023.

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Macy's Down In Pre-Market On Guidance Cut

Shares of Macy's, Inc. (M), were losing almost 5 percent in Thursday's pre-market trade after the company lowered its full-year profit guidance, due to lower demand trends.

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Best Buy, Dollar Tree Q1 Earnings Top Estimates

Retailers Best Buy Co., Inc. (BBY) and Dollar Tree Inc. (DLTR) reported on Thursday profits for the first quarter that decreased from last year, but results topped analysts' estimates. However, net sales missed estimates. Best Buy maintained its guidance for the full-year 2023, while Dollar Tree slashed its earnings outlook for the full-year 2023.

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