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Fourth Quarter Loss

All articles tagged with #fourth quarter loss

business1 year ago•2 min saved

"Dollar Tree Announces Closure of Nearly 1000 Stores After Fourth Quarter Loss"

Dollar Tree reported a surprise fourth-quarter loss and announced plans to close nearly 1,000 stores, including about 600 Family Dollar stores in the first half of this year, due to challenges stemming from its acquisition of Family Dollar in 2015. The company will record a $950 million impairment against the Family Dollar trade name and expects to spend over $594 million on store closures or rebranding. Despite an increase in revenue, Dollar Tree's struggles reflect the impact of inflation on consumer spending habits, with sales at Family Dollar stores declining.

via NPR|

#business #dollar-tree #family-dollar

finance1 year ago•3 min saved

NYCB in Crisis: CEO Exits, Loss Balloons, and Stock Plummets

New York Community Bancorp (NYCB) faces turmoil as CEO Thomas Cangemi exits, and the bank's fourth-quarter loss balloons to $2.7 billion due to a $2.4 billion goodwill impairment charge. The bank also disclosed weaknesses in its internal controls and delayed the filing of its annual report to address these issues. Alessandro DiNello, previously CEO of Flagstar Bank, has replaced Cangemi as executive chairman. The bank's troubles began a month ago when it slashed its dividend and reported a net quarterly loss, raising concerns about the regional banking world.

via Yahoo Finance|

#banking-crisis #ceo-exit #finance

businessaviation1 year ago•2 min saved

JetBlue's Forecasted Sales Decline and Higher Costs Lead to Stock Drop

JetBlue Airways reported a net loss of $104 million in the fourth quarter of 2023 and forecast lower capacity for 2024, expecting revenue to drop between 5% and 9% in the first three months of the year. The airline's adjusted margins could approach breakeven, and it anticipates capacity to be down in the low single digits for 2024. JetBlue has been dealing with higher costs, operational challenges, and changing travel patterns, and its plan to acquire Spirit Airlines for $3.8 billion was barred by a federal judge earlier this month.

via CNBC|

#airline-industry #businessaviation #capacity-forecast

finance2 years ago•1 min saved

"Citigroup Reports $1.8 Billion Loss in 4Q 2023 Earnings"

Citigroup reported a $1.8 billion fourth-quarter loss due to charges related to overseas risks, last year's regional banking crisis, and CEO Jane Fraser's corporate overhaul. The charges impacted quarterly earnings by $4.66 billion, or $2 per share. Excluding their impact, earnings would've been 84 cents a share. The bank also announced plans to exit municipal bond and distressed debt trading operations as part of a corporate reorganization.

via CNBC|

#charges #citigroup #corporate-overhaul