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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…

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…

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…

Pedestrians walk by a large Adidas logo inside the German multinational sportswear shop.Miguel Candela | SOPA Images | LightRocket via Getty ImagesAdidas on Tuesday cut its financial forecast for 2022 as the sneaker and athletic brand suffers from a slower recovery in China and warned of the potential for a slowdown in other markets.The announcement comes a day after Walmart sent shock waves across the retail sector when it cut its quarterly and full-year profit guidance. Walmart said inflation is causing shoppers to…

A Walmart Inc. logo is displayed on a sign that reads "Everyday Low Price" at a store in Burbank, California, U.S., on Tuesday, Nov. 26, 2019.Patrick T. Fallon | Bloomberg | Getty ImagesShares of retailers including Macy's, American Eagle and Amazon fell Tuesday, a day after Walmart slashed its profit forecast and warned that surging prices for food and gas are squeezing consumers.The big-box retailer, which is the country's largest grocer, said everyday necessities are eating up more of household budgets and leaving…

Walmart on Monday cut its quarterly and full-year profit guidance, saying inflation is causing shoppers to spend more on necessities such as food and less on items like clothing and electronics.That shift in spending has left more items on store shelves and warehouses — forcing the big-box retailer to aggressively mark down items that customers don't want.The company's stock fell in after-hours trading following the announcement. Shares of other retailers, including Target and e-commerce giant Amazon, also fell.Walmart…

Shoppers explore a mostly empty mall in Columbus, Ohio.Matthew Hatcher | Getty ImagesDon't expect the stream of departures from retailers' C-suites to stop anytime soon.Already this year, Gap and Bed Bath & Beyond abruptly replaced their CEOs as the companies' sales plunged. GameStop fired its chief financial officer in the middle of the video game retailer's efforts to revamp its business. After sticking around to help Dollar General navigate the pandemic, the company's longtime CEO said he was retiring.As the retail…

In 2020, Macy's opened its first Market by Macy's location, which was in the Dallas-Fort Worth area.Source: Macy'sMacy's is accelerating its plans to open smaller stores that aren't attached to suburban shopping malls, in a bid to evolve along with its customers' shopping preferences coming out of the Covid pandemic.The department store chain said Wednesday that it will open three stores this fall that each represent ways Macy's is thinking about how it aims to reposition its real estate in the future. That…

Check out the companies making headlines before the bell:Delta Air Lines (DAL) – Delta shares slid 2.9% in the premarket after reporting a mixed quarter. The airline earned an adjusted $1.44 per share for the second quarter, shy of the $1.73 consensus estimate. Revenue exceeded estimates on strong travel demand, but margins took a hit from higher fuel prices and higher operational costs.Twitter (TWTR) – Twitter added 2% in premarket trading after the company sued Elon Musk to force him to adhere to the terms of their $44…

A customer shops for shirts at an American Eagle Outfitters store in San Francisco.David Paul Morris | Bloomberg | Getty ImagesExcess inventory has racked up in many retailers' warehouses and stores. But shoppers are still paying more as they refresh the closet.Apparel prices rose 0.8% in June compared to May, and 5.2% year over year, according to the Bureau of Labor Statistics' consumer price index Wednesday. Overall, the inflation gauge, which includes everyday items such as food and gas, rose a higher-than-expected…