Business Growth Archive

Alibaba's $60 Billion Finance arm Seeks Growth Before IPO Say Sources

SHANGHAI, China — Investors gearing up for the initial public offering of Ant Financial, the $60 billion (£54.26 billion) online finance arm spun off by e-commerce giant Alibaba, will have to wait until at least late 2017 as the business puts growth first, sources say. Sources with knowledge of the plans said Ant Financial, whose anchor business is Alipay, China’s largest online payments service, is …

Wal-Mart Profit Beats Expectations With Stocks Rising

BENTONVILLE, United States — Wal-Mart Stores Inc , the world’s largest retailer, reported a higher-than-expected quarterly profit on Thursday as sales at its established US stores rose for the eighth consecutive quarter, sending its shares up more than 3 percent. Excluding a non-cash gain from the sale of Wal-Mart’s e-commerce business in China and other items, earnings per share came to $1.07 in the second …

Nordstrom Profit Tops Estimates as Rack Brand’s Sales Increase

Nordstrom Store in the Rideau Centre shopping mall in Ottawa, Canada | Source: Shutterstock SEATTLE, United States — Nordstrom Inc., the largest US luxury department-store chain, posted second-quarter profit that topped analysts’ estimates, helped by higher sales at its off-price Rack chain. Earnings were 67 cents a share in the quarter, the Seattle-based company said in a statement Thursday. Analysts predicted 57 cents, on average. …

Zalando Confirms Earnings Boost From Efficiency and New Brands

FRANKFURT, Germany — Zalando SE boosted earnings as the online apparel retailer added new brands like Kate Spade and got more bang for its marketing buck. Adjusted earnings before interest and taxes amounted to €80.9 million ($90.3 million) in the second quarter, Berlin-based Zalando said in a statement Thursday. That compares with €30.2 million a year earlier. The company said July 19 that earnings would …

Coach’s Profit Exceeds Estimates as New Products Boost Sales

NEW YORK, United States — Coach Inc., the maker of luxury handbags, posted fourth-quarter profit that exceeded analysts’ estimates as new products boosted sales. Profit was 45 cents a share, excluding some items, in the quarter ended July 2, the New York-based company said in a statement Tuesday. Analysts projected 41 cents, on average. Sales rose 15 percent to $1.15 billion, in line with analysts’ $1.16 …