Athleisure wear maker Lululemon cuts annual forecasts as demand slows
The shares of the athleisure apparel maker, which have lost nearly half of their value so far this year, were down about 3% in trading after the bell. Lululemon has seen a slower start to 2024 as sales moderate after years of strong growth, with persistent inflation prompting selective spending by shoppers.Co …. Read More >>
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Dell beats second-quarter results estimates on strong AI server demand
Shares of the Round Rock, Texas-based company rose 3.3% in extended trading.Dell has capitalized on increasing demand for its AI servers, which are powered by Nvidia’s graphics processors. These servers are designed to meet the growing computing needs of AI systems, including training language models.Revenue …. Read More >>
Saudi Arabia changes senior military commanders
The chief of general staff, Lieutenant-General Fayyad bin Hamed al-Ruwayli, was left in place. The next most senior military role, commander of the joint forces, will be taken by Lieutenant General Fahd bin Hamad bin Abdulaziz Al-Salman, who was promoted from a major general, the decree said. Lieutenant Gene …. Read More >>
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Gap posts higher second-quarter sales on steady demand
The company has been attempting to turn around its business by bringing in fresher styles and keeping a tight leash on costs.Netsales at Old Navy were up 8% over the year earlier, while the Gap banner saw 1% growth.The retailer reaffirmed its net sales and operating expense outlook for fiscal 2024 and increa …. Read More >>
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