Macy's, Hibbett, Groupon: Trending tickers
Macy's (M) has announced the nomination of a new director to its board. This comes as Arkhouse Management seeks to establish a confidentiality agreement with the retailer.
Hibbett (HIBB) shares are falling after the company missed fourth quarter sales estimates. The sporting goods retailer cited wage increases and an intense promotional environment as key pressures that weighed on margins during the quarter.
Groupon (GRPN) shares are under pressure after the company reported fourth quarter revenue fell short of expectations. This setback comes as Groupon undergoes a restructuring aimed at boosting its financial performance.
Yahoo Finance's Seana Smith and Bradley Smith break down the details.
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Editor's note: This article was written by Angel Smith
Video Transcript
BRAD SMITH: This is not where the greens at, S&P 500 is down by about 6/10 of a percent. Stocks lower this Friday after a busy week of data showed that inflation remains sticky for consumers, as well as a wholesale producer environment out there.
Also taking a look at some individual trending tickers here. Macy's nominating a new director to its board amid a takeover battle with ARKHOUSE management. This comes as the retailer agrees to work on a confidentiality agreement with the private equity firm and its partner that would allow them to conduct due diligence.
And shares of the athletic-inspired fashion retailer Hibbett Sports are plunging after reporting fourth quarter sales below analysts' expectations. The retailer saw comparable sales fall 6.4%, compared to a year ago. The company pointing to the promotional environment, wage increases, and inflation as headwinds.
And shares of Groupon sinking after reporting revenue in its fourth quarter, down 7%, compared to a year ago. This comes as the company is undergoing a transformation plan to improve financial performance and increase liquidity. And for those out there keeping score at home, this one is also down, so that means there's still some green out there somewhere, it's just not in these movers that we're tracking at the top of the 10:00 AM hour.
