Forever 21, a well-known fast fashion brand, is currently facing financial challenges that have led them to seek assistance from landlords in reducing their rent. With over 380 stores in the U.S., the retailer has reportedly asked some landlords to cut rent by up to 50%. This move comes as the company’s sales continue to
Inventory
The recent drop in mortgage rates did not seem to have a significant impact on consumer behavior. According to the Mortgage Bankers Association, total mortgage application volume only rose by a mere 0.9% compared to the previous week. This minimal increase raises questions about the factors influencing consumer decisions regarding mortgage applications. The average contract
Selecting the right dividend-paying stocks can be a daunting task for any investor. However, Wall Street’s best analysts provide valuable insights into companies’ ability to provide attractive dividend yield and long-term upside. Kimberly-Clark (KMB) is a consumer products giant that stands out as this week’s first dividend pick. Known for popular brands like Huggies and
The real estate market is currently experiencing a surge in new listings from home sellers. According to Zillow’s latest market report, new listings have increased by 13% compared to a year ago. However, despite this influx of properties on the market, homes are taking longer to sell. The number of homes available for sale has
Recently, there has been a significant drop in mortgage rates leading to a surge in total mortgage application volume. The Mortgage Bankers Association reported that the volume increased by nearly 16% compared to the previous week. This increase was mainly due to the decrease in the average contract interest rate for 30-year fixed-rate mortgages. However,
As we navigate through the second half of 2024, experts are divided over the direction in which the housing market is heading. While some, like Glenn Kelman, CEO of Redfin, express optimism about the market’s potential for improvement, others like Jeff Ostrowski from Bankrate.com, remain cautious about making definitive predictions. Shifts in Mortgage Rates and
The cruise industry has shown significant signs of recovery post-pandemic, with high demand leading to optimism among investors. Analysts like Robin Farley from UBS are positive about the industry’s future prospects. Farley notes that there is still a substantial gap between cruise prices and land-based hotel prices, indicating room for further growth. This, coupled with
Lululemon, a leading athletic apparel retailer, recently reported flat comparable sales in its largest market, the Americas, raising concerns about its growth trajectory. While the company exceeded earnings expectations, it only narrowly beat revenue projections, signaling a potential slowdown in its key region. The company’s full fiscal year guidance suggests optimism for improved conditions in
The housing market saw a significant decline in signed sales contracts on existing homes in April, dropping by 7.7% compared to March. This marks the slowest pace since April 2020, according to the National Association of Realtors. Additionally, pending sales were 7.4% lower than in April of the previous year, highlighting a concerning trend for
After a brief period of decline in May, mortgage rates started to climb again last week, causing a significant impact on mortgage demand. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 7.05% from 7.01%, with points also rising. This was the first increase in four weeks, and although