Macy's, Sears, Target, Kohl's, and JCPenney are among the many companies that have reported lackluster sales during the critical holiday period. In the wake of the disappointing season, Macy's and Sears are now collectively closing more than 200 stores, and analysts say JCPenney could shut down as many as 300 stores within the next couple years. Target has slashed its fourth-quarter sales and earnings outlook and the mall-based retailer The Limited just shut down all 200 of its stores.
Financial markets have not priced in a protectionist Donald Trump presidency, according to Goldman Sachs. Look at how quickly Asia’s export-oriented companies have bounced back, “suggesting the market may not have priced in much trade risk”, wrote Goldman. Among Asian companies with sizable revenue exposure to the U.S., Goldman dislikes Kia Motors (000270.Korea), SMIC (981.Hong Kong), Advantech (2395.Taiwan), Acer (2353.Taiwan), and Cipla (500087.India) the most. These five companies promise 34%, 32%, 29%, 26% and 26% downside respectively. At first glance, Kia Motors should not be picked on by Trump. About 40% of its production is based in the U.S. – versus 10% in Mexico with the rest produced
Although the overall individual audit rate is only about one in 119, the odds increase dramatically as your income goes up, as it might if you sell a valuable piece of property or get a big payout from a retirement plan. The IRS wants to be sure that owners of IRAs and participants in 401(k)s and other workplace retirement plans are properly taking and reporting required minimum distributions.