The large services side of the economy grew in November for the sixth month in a row and inflationary pressures eased, but businesses were taking a cautious approach to hiring and investing due to lingering "tariff uncertainty.†...

Australia’s annual wage growth remained elevated last quarter, underscoring a tight labor market and persistently weak productivity and suggesting inflationary pressures may take time to cool in a challenge for policy makers https://t.co/p62ld4rzNJ ...

Group 1: Workforce Reduction and Management Changes - Target announced the elimination of 1,800 corporate positions, marking its first major workforce reduction in a decade, as incoming CEO Michael Fiddelke aims to reverse four years of stagnant sales [1] - The layoffs indicate that Target may lack the operational efficiency and strategic clarity needed to compete effectively in a challenging macro environment [5] Group 2: Financial Performance and Market Position - Target's market cap is valued at $43 billion, with its stock down 65% from all-time highs, underperforming peers such as Walmart and Costco [2] - Over the last 10 years, Target stock has returned 73% to shareholders after adjusting for dividend reinvestments, while Walmart and Costco have returned 564% and 620%, respectively [2] Group 3: Revenue and Sales Outlook - Target expects revenue to decline year-over-year in fiscal 2026, indicating challenges with inventory management and store traffic [4] - The retailer generates 50% of its sales from discretionary products, making it more vulnerable to economic downturns compared to Walmart, which generates 40% from discretionary items [4] Group 4: Operational Improvements and Consumer Trends - Target saw some improvement in the second quarter, with strengthening traffic and comparable sales trends, particularly in physical stores [6] - Notable strength was observed in gaming, toys, and trading cards, as customers responded positively to new products and innovation [6] Group 5: Strategic Adjustments and Future Outlook - Target has invested significant resources in managing tariff impacts through product development adjustments, sourcing changes, and supply chain modifications [8] - While short-term pressure on profit margins is expected, management believes that the bottom line will expand over the next 18 months [8]

AND CORE CPI UNLOCKING LOWER BOND YIELDS GOING INTO THE FEDERAL RESERVE DECISION. JOINING US IS TIFFANY WILDING. IS THIS A SOURCE OF COMFORT FOR THIS FEDERAL RESERVE NEXT WEEK.TIFFANY: WELL, I DO NOT KNOW. CERTAINLY IT IS GOOD NEWS ON INFLATIONARY PRESSURES. THE ARGUMENT THAT WE HAVE BEEN MAKING IS SYMPTOMATIC OF THIS REPORT IS THAT THE ECONOMIC ADJUSTMENT TO TARIFFS IS COMING THROUGH LESS ON A PRICE ADJUSTMENT AND INSTEAD COMPANIES ARE FINDING WAYS TO DEFEND MARGINS BY OFFSETTING OTHER COSTS. AND I THINK T ...

Group 1 - The U.S. small-business sentiment has declined slightly due to ongoing inflationary pressures and labor shortages, contributing to economic uncertainty [1][2] - The National Federation of Independent Business reported a 2.0-point drop in its optimism index for September, bringing it to 98.8, which is close to the long-term average of 98 points [2]

Group 1: Financial Performance - Card Factory reported a revenue increase of 5.9% to £247.6 million in the first half, despite a decline in adjusted profit before tax by 9% to £13.2 million [2][3][4] - Like-for-like store revenues improved by 1.5% year on year, while online sales at cardfactory.co.uk dropped by 11.3% [3][6] - Net debt rose by 5.3% to £78.9 million, although cash from operations improved significantly from £17.5 million to £30.5 million [4][6] Group 2: Cost Pressures - The decline in profits was attributed to rising costs, including significant increases in the National Living Wage and National Insurance contributions, with an expected cost inflation exceeding £20 million for the full financial year [6][9] - Investments aimed at improving efficiency, such as a new point of sale system, also contributed to the profit decline [6][7] Group 3: Strategic Initiatives - Card Factory's organic partnerships business saw a turnover increase of 15.7% year on year, attributed to the success of its full-service model [3] - The company acquired online greetings retailer Funky Pigeon for £24.1 million to enhance its digital growth strategy [10] Group 4: Future Outlook - The CEO expressed confidence in the company's growth strategy and preparedness for the upcoming festive season, maintaining guidance for adjusted pre-tax profit growth in the mid-to-high single-digit percentage range [9][10]

Financial Performance - Espey Mfg. & Electronics Corp. reported a net income of $1.05 per share for Q4 2025, an increase from 73 cents per share a year earlier [1] - The company generated net sales of $9.6 million in Q4 2025, down from $11.6 million in the prior-year quarter, but quarterly net income rose to $2.9 million from $1.9 million a year earlier [2] - For fiscal 2025, Espey posted a net income of $8.1 million, up from $5.8 million in the prior year, representing an increase of about 40%, with EPS rising to $3.02 from $2.29 [3] Business Metrics - Espey's backlog reached approximately $139.7 million as of June 30, 2025, with expectations to recognize 35% as revenue in fiscal 2026 [4] - Export shipments grew to $3.1 million in 2025 compared to $2.4 million a year earlier [4] - Sales concentration remained high, with six domestic customers accounting for 74% of sales in fiscal 2025, down from five customers making up 81% of sales in 2024 [5] Management Outlook - Management anticipates revenues in fiscal 2026 will be higher than in fiscal 2025, but net income per share is expected to decline due to higher anticipated costs [6] - Ongoing supply chain challenges and inflationary pressures are notable hurdles, with component waiting times approaching a year or more [6][7] Operational Factors - The improvement in net income was partly due to operational adjustments and tax benefits, with the provision for income taxes declining to $1.6 million in 2025 from $1.5 million in 2024 [8] - Espey received a $3.4 million funding award from the U.S. Navy for facility and capital equipment upgrades, expected to be completed by the end of fiscal 2026 [9] - The company finalized its withdrawal from the IBEW Local 1799 Pension Fund, making a final payment of $0.5 million in May 2025 [10]

Core Viewpoint - Lennar reported a significant decline in third-quarter profit and forecasted lower home deliveries for the fourth quarter, indicating ongoing challenges in the housing market due to inflation and elevated interest rates [1][3]. Financial Performance - Lennar's third-quarter earnings were $2.29 per share, down from $4.26 per share a year earlier [4]. - Revenue for the quarter ended August 31 fell by 8.7% to $8.25 billion, which was below analysts' estimates of $9 billion [4]. Market Outlook - The company expects fourth-quarter home deliveries to be between 22,000 and 23,000 units, which is below analysts' expectations of over 25,000 units [3]. - Analysts at BofA Securities noted that the recent Fed rate cut is unlikely to have a significant short-term impact on the housing market, as the market had already priced in the rate changes [2]. Operational Challenges - Lennar's profit margins are under pressure due to sales incentives like mortgage rate buydowns and cost adjustments amid weakening home demand [3]. - The company does not anticipate being affected by tariffs and aims to focus on improving margins [3].

Core Insights - Pinstripes is facing significant financial challenges due to inflationary pressures, leading to a shift in consumer behavior towards cheaper alternatives [3][4] - The company has experienced tight liquidity and reduced consumer traffic, which has strained its finances despite efforts to offset rising costs through price hikes and improved purchasing practices [4] - Pinstripes has filed for Chapter 11 bankruptcy protection, marking a critical step in its restructuring efforts amid declining revenues and economic deterioration [7] Financial Performance - Approximately 80% of Pinstripes' revenue is derived from food and beverage sales, with total annual revenue reported at about $129 million for the fiscal year ending April 27, 2025 [5] - Each location generates an average of $7.4 million in annual revenue, with store footprints ranging from 26,000 to 38,000 square feet [5] Business Expansion and Strategy - Pinstripes went public at the end of 2023 through Banyan Acquisition Corp, with plans to expand to 23 venues by the end of 2024 and a long-term goal of 150 units [6] - The company had grown to 18 units but only operated eight at the time of its bankruptcy filing, indicating a significant contraction in its business operations [7]

Industry Overview - The gold mining industry is currently experiencing its strongest fundamental environment in decades, with gold prices rising 40% year-over-year [1] - Gold prices have at times surpassed the $3,500 per ounce level in the second quarter of 2025, driven by inflationary pressures and geopolitical tensions [1]