Best Buy Co Inc

The Facebook logo is seen on an Apple iPhone.Jaap Arriens | NurPhoto | Getty ImagesUntil about a month ago, shoppers on Dell's website looking for a new laptop could log in using their Facebook credentials to avoid creating a new username and password. That option is now gone.Dell isn't alone. Other big brands, including Best Buy, Ford Motor, Pottery Barn, Nike, Patagonia, Match and Amazon's video-streaming service Twitch have removed the ability to sign on with Facebook. It's a marked departure from just a few years ago,…

Check out the companies making headlines before the bell:Best Buy (BBY) – Best Buy gained 2.6% in the premarket after the electronic retailer beat Street forecasts on the top and bottom lines for its latest quarter, while comparable store sales declined less than expected.Big Lots (BIG) – The discount retailer reported a smaller-than-expected quarterly loss and better-than-expected revenue. Comparable store sales also fell less than analysts had forecast. The stock rose 2.7% in premarket trading.First Solar (FSLR) – First…

Televisions are seen for sale at a Best Buy store in New York City.Andrew Kelly | ReutersBest Buy on Tuesday said sales dropped by about 13% in the second fiscal quarter, as the retailer felt a pullback from inflation-weary shoppers.The retailer reaffirmed its full-year guidance, saying it expects softer demand for consumer electronics as people pay more for groceries and gas. It expects same-store sales to drop by about 11% for the 12-month period ended in January. The company had cut its full-year and second-quarter…

A pedestrian walks by a Bed Bath and Beyond store on November 04, 2021 in Larkspur, California.Justin Sullivan | Getty Images1. A potential cash infusionA key part of the announcement will be clarity around how Bed Bath plans to replenish its cash coffers to pay suppliers, take care of other expenses and keep investing in the business.Bed Bath & Beyond's net loss widened in the most recent quarter as sales slowed and the company ended May with about $100 million in cash, down from $1.1 billion a year ago.As shares of…

Black Friday shoppers leave a Best Buy store in Washington, DC, on November 26, 20221.Nicholas Kamm | AFP | Getty ImagesBest Buy is eliminating hundreds of jobs at stores across the country about two weeks after the company said it was seeing weaker sales than expected, according to a Wall Street Journal report.The consumer electronics retailer has made the cuts over the past week, the report said, citing people familiar with the matter. The company had about 105,000 employees in the U.S. and Canada, as of the end of…

A general view of the atmosphere at Warby Parker's store in The Standard, HollywoodMichael Buckner | Warby Parker | Getty ImagesWarby Parker on Thursday joined the slew of retailers that have cut their financial forecasts for the year, even as it reported a narrower-than-expected loss in its fiscal second quarter and sales in-line with analysts' estimates.Chief Financial Officer Steve Miller said the eye glasses maker is facing an "uncertain macroeconomic environment.""We are taking a disciplined approach to managing…

Exterior view of a Walmart store on August 23, 2020 in North Bergen, New JerseyVIEW press | Corbis News | Getty ImagesWalmart confirmed on Wednesday that it has begun to lay off corporate employees about a week after the company slashed its profit outlook and warned consumers had pulled back on discretionary spending due to inflation.In a statement to CNBC, the retail giant described the layoffs as a way to "better position the company for a strong future."Anne Hatfield, a Walmart spokesperson, declined to say how many…

The biggest shopping mall owners in the United States say retailers are still forging ahead with plans to open new stores in spite of growing recession fears and decades-high inflation that's squeezing shoppers' budgets.Simon Property Group, the country's largest mall owner, said the pipeline of businesses slated to open up at its properties remains strong. The company reported an occupancy rate at its U.S. malls and outlet centers of 93.9% as of June 30, up from 91.8% a year earlier."Even with with what's going on in the…

Amazon shares climbed more than 12% in extended trading on Thursday after the company reported better-than-expected second-quarter revenue and gave an optimistic outlook.Here are the key numbers: EPS: Loss of 20 centsRevenue: $121.23 billion vs. $119.09 billion expected, according to RefinitivHere's how other key Amazon segments did during the quarter: Amazon Web Services: $19.7 billion vs. $19.56 billion expected, according to StreetAccountAdvertising: $8.76 billion vs. $8.65 billion expected, according to…

Customers shop at a Best Buy store on August 24, 2021 in Chicago, Illinois.Scott Olson | Getty ImagesBest Buy on Wednesday cut its forecast for the year, saying it has seen weaker demand for consumer electronics amid inflation.Shares of the company fell 10% in after market trading.This story is developing. Please check back for updates. Customers shop at a Best Buy store on August 24, 2021 in Chicago, Illinois.Scott Olson | Getty ImagesBest Buy on Wednesday cut its forecast for the year, saying it has seen weaker…