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Granth Vanaik

Granth Vanaik

Reuters — Granth reports on the North American Consumer and Retail sector, covering a broad range of companies from consumer packaged goods and restaurants to department stores and apparel retailers. Granth's work on the website usually appears on the Retail & Consumer page of Reuters Business section.

Factbox: Agents and substances categorized as carcinogenic to humans

Factbox: Agents and substances categorized as carcinogenic to humans

Reuters — Artificial sweetener aspartame, used in products from Coca-Cola's diet sodas to Mars' Extra chewing gum, is the latest substance set to be declared as a possible carcinogen next month by the International Agency for Research on Cancer (IARC), according to sources.

Carnival set to post strong revenue growth as new, younger customers drive demand

Carnival set to post strong revenue growth as new, younger customers drive demand

Reuters — Carnival is expected to post robust second-quarter revenue growth as new and younger customers, undeterred by high inflation, spend on novel experiences such as cruising.

Kroger maintains annual targets despite quarterly profit beat, shares slip

Kroger maintains annual targets despite quarterly profit beat, shares slip

Reuters — Supermarket chain Kroger in a cautious move on Thursday reaffirmed its annual forecasts after it beat Wall Street estimates for first-quarter profit and same-store sales on steady demand for essentials and easing supply chain costs.

Hormel Foods reaffirms 2023 forecasts, shares rise

Hormel Foods reaffirms 2023 forecasts, shares rise

Reuters — Hormel Foods Corp reaffirmed its annual sales and profit forecasts even as its second-quarter revenue missed estimates, sending the company's shares up as much as 8% in early trade.

Dollar Tree cuts profit target on slowing demand, higher costs; shares slump

Dollar Tree cuts profit target on slowing demand, higher costs; shares slump

Reuters — Dollar Tree Inc on Thursday trimmed its full-year profit forecast after missing quarterly profit estimates, hurt by slowing demand for discretionary items and elevated cost pressures, sending shares of the retailer down more than 14%.

Abercrombie & Fitch jumps on surprise profit, sales forecast raise

Abercrombie & Fitch jumps on surprise profit, sales forecast raise

Reuters — Abercrombie & Fitch Co on Wednesday posted a surprise quarterly profit and lifted its full-year sales forecast, as the clothing retailer banks on its efforts to fill shelves with in-demand goods, sending its shares up as much as 29%.

Tyson Foods shares plunge after surprise loss, revenue forecast cut

Tyson Foods shares plunge after surprise loss, revenue forecast cut

Reuters — Tyson Foods Inc shares plunged 16% to a three-year low on Monday as the U.S. meatpacker posted a surprise second-quarter loss and cut its full-year revenue forecast amid slowing consumer demand.

Levi Strauss warns of margin decline in 2023 as promotions, costs bite

Levi Strauss warns of margin decline in 2023 as promotions, costs bite

Reuters — Levi Strauss & Co on Thursday warned of a margin crunch this year as it would have to offer higher promotions than previously anticipated while also grappling with higher costs, sending its shares tumbling 16% in morning trade.

Nike sales to gain from Adidas-Kanye split, Jordan Retro demand

Nike sales to gain from Adidas-Kanye split, Jordan Retro demand

Reuters — Nike is expected to report a rise in third-quarter revenue and grow its market share through 2023, helped by major rival Adidas' split with designer and rapper Kanye West that caused the German company to lose about $600 million in quarterly sales.

Costco misses quarterly revenue estimates as demand slows for discretionary goods

Costco misses quarterly revenue estimates as demand slows for discretionary goods

Reuters — Costco Wholesale Corp missed second-quarter revenue estimates on Thursday, as consumers turned frugal on discretionary spending amid persistently high inflation, sending its shares down about 3% in after-hours trading.

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