Cato’s (NYSE:CATO) same-store sales fell 10 percent in the June quarter, causing the retailer to revise the outlook for the June quarter to the low end of its original guidance range of $0.53 to $0.57, forecasting “volatility will continue and we remain cautious as we look toward the second half of the year.”
Telefonica’s (NYSE:TEF) is targeting revenues at its online division of 5 billion euros by 2015, hoping to set a growth of 20 percent annually based on a slew of new goals, services and initiatives and launches in new countries.
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Tensions escalate out of Statoil’s (NYSE:STO) labor problems and the company is moving to stop production on the Norwegian continental shelf to comply with a lock-out notice served by the industry association effective Monday; a trade union leader is not deterred and claims the unions could strike for weeks.
Walgreen (NYSE:WAG) announced a decline of 10 percent in same-store sales due to the impact of generic drugs and the Express Scripts dispute; it also announced it will pay $438 million to acquire a regional drugstore chain from the LaFrance group that would include stores operating under the USA Drug, Super D Drug, Mays Drug, Med-X and Drug Warehouse banners.
Chevron (NYSE:CVX), fighting a legal battle with Ecuadorian plaintiffs over environmental issues, says it may not be able to settle the issue given the series of unlawful acts committed during the whole legal process; CVX inherited the suit from its Texaco acquisition, and since it does not own any assets in Ecuadore it alleges the plaintiffs are strong-arming it by laying claim to its assets in Canada and Brazil.