{
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retailers raise store card interest rates ahead of federal cuts

Dozens of major U.S. retailers have raised interest rates on store-branded credit cards to record highs, with at least 50 companies, including Big Lots and Macy’s, increasing APRs significantly ahead of the Federal Reserve's rate cuts. The average APR on store cards surged by 1.52 percentage points from September 2023 to September 2024, driven by profit motives amid sluggish sales and rising credit card debt. Consumers are cautioned to reconsider signing up for these cards, as many may not fully understand the financial implications.
CNBC
United States Dollar Burlington Stores, Inc. Petco Big Lots, Inc. The TJX Companies, Inc. Academy Sports and Outdoors, Inc. The Gap, Inc. Nordstrom, Inc. Michael S. Batiste Irrevocable Trust Macy's, Inc. USA Jasmine Matheney Brian Robinson Ted Rossman Paul Lejuez Adrian Mitchell Show more
Finance & Economy, News Article
13:05 22.11.2024

walmart soars while target struggles amid diverging retail earnings reports

Walmart's stock soared to an all-time high, while Target's plummeted to a 52-week low following disappointing earnings. Target reported its largest earnings miss in two years, attributing it to a decline in discretionary spending and increased costs, while Walmart raised its full-year forecast, benefiting from a stronger sales performance and gaining upper-income shoppers. Analysts express concerns over Target's market share loss to competitors like Walmart and Amazon, highlighting issues with its merchandise mix and execution.
CNBC
Walmart Inc. Target Corporation USA Michael Lasser Mike Baker Paul Lejuez Kate McShane Brian Cornell Show more
Finance & Economy, Market Report
22:07 20.11.2024
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