Hewlett-Packard Company (NYSE:HPQ) recently began a turnaround plan that is to take four to five years, company CEO Meg Whitman stated to CNBC in an interview in which she defended that the company is not too large.
Informatica Corporation (NASDAQ:INFA) CEO Sohaib Abbasi stated, “While overall customer demand for our products increased from Q2 to Q3 of 2012, most of our revenue shortfall in Q3 was in Europe, where we fell well short of our own expectations. Despite improving operational results in the U.S. and Asia Pacific relative to our Q2 of 2012 results, the disappointing European results reflect continued operational challenges that we are taking aggressive steps to address. Under our new worldwide sales leader, we remain focused on implementing the changes necessary to pursue our market opportunity.” Additionally, CFO Earl Fry said: “As we have previously stated, our tax rate is very sensitive to the geographic mix of business.”
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NuVasive, Inc. (NASDAQ:NUVA) has issued a sales warning for Q3 causing Globus Medical to fall 6 percent.
Kohl’s Corp. (NYSE:KSS) reported that for the five-week month ending on September 29, total sales fell 1.4 percent and comparable store sales saw a 2.7 percent drop from the five-week month that ended on October 1, 2011. Year to date, total sales saw an 0.85 percent rise and comparable store fell 0.9 percent.
Target Corp. (NYSE:TGT) stated, “September comparable-store sales were strongest in Food, which experienced a high single-digit increase, and in Health & Beauty, which experienced a mid single-digit increase. September comparable-store sales increased slightly in Home and decreased slightly in Hardlines. September comparable-store sales in Apparel decreased in the mid single-digit range as we cycled the launch of Missoni for Target in September 2011. In September, every region saw an increase in comparable-store sales. Performance was strongest in portions of the West and the South. At month-end, our inventory was in very good condition.”