Business News

Mixed Retail Earnings

The October Consumer Price Index rose 0.2% as expected.  That reverses a drop of the same amount in September. The number ex-food and energy rose 0.2%. Year-over-year consumer prices are up 1.9% (Department of Commerce)
Shares of Dick's Sporting Goods are getting destroyed, down 16%, after a disappointing third quarter earnings and a downbeat forecast for the fourth quarter. Dick's reported third quarter earnings of $0.45 per share on sales of $1.64 billion. Same-store sales were up 0.4%. (Business Insider)
Wal-Mart gave upbeat earnings guidance, as sales at existing U.S. stores rose for the fifth straight quarter amid improved traffic. Overall profit and revenue edged lower in the quarter on weaker international sales and the stronger dollar. (WSJ)
Home Depot posted profits of $1.7 billion in the third quarter, up 12.2% compared to last year, fueled by a strong housing market. Sales increased 6.4% to $21.9 billion. Same store sales rose 5.1%. (USA Today)
McDonald's is testing a new value meal scheme called the "McPick 2" that offers two low-priced items for $2. The option reinstates the $1 price point the fast food chain abandoned in 2012.  (AP)

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