It's the heaviest day of the busiest week for corporate earnings season for the second quarter.
Whole Foods is feeling pinched after officials found it was overcharging customers. The grocery chain known for its organic offerings saw sales growth slowing sharply at established locations. To extend its reach, the company plans to open a new chain of "365" stores that focus on lower prices in a smaller format. Leases have been signed for locations in Bellevue, Washington and Portland, Oregon. For the quarter the company earned $154 million. Total revenue was $3.63 billion. (AP)
Procter & Gamble's sales fell for the sixth straight quarter, as the world's bigger consumer goods company was weighed down by softer sales volume and unfavorable currency exchange rates. The maker of Tide, Pampers and Charmin said higher pricing helped offset a decline in shipment volume in the period. That kept sales flat after stripping out the impact of currency exchange rates. For the quarter the company earned $521 million. Total revenue fell 9% percent to $17.79 billion. (AP)
The downside to cheaper oil! Royal Dutch Shell warned that lower crude prices could continue for several years, as the oil giant announced lower earnings, plans to pull back on capital spending, and 6,500 job cuts. (CNBC)