The Marvell Technology Group Ltd. headquarters building stands in Santa Clara, California, U.S., on Tuesday, Feb. 8, 2011. David Paul Morris | Bloomberg | Getty Images Marvell Technology forecast first-quarter results below market expectations on Thursday, hurt by weak demand for its custom chips used in artificial intelligence applications,...
Coinbase partner ClearBank posts first full year of profit as revenue almost doubles
ClearBank, a British financial technology firm powering payments for the likes of Coinbase, scored its first full year of profit after higher interest rates helped drive a 91% jump in revenue. The firm swung to an £18.4 million ($23.3 million) pretax profit in the year ended Dec. 31, 2023, according...
Nearly half of Levi’s sales are happening online and in its shops, a shift as department stores fade
Levi Strauss, which has long relied on wholesalers like Macy's and Kohl's to drive its business, is now doing nearly half of its sales through its own website and stores, the company said Wednesday when reporting fiscal first-quarter earnings. In the three months ended Feb. 25, direct-to-consumer sales made up...
Victoria’s Secret shares plunge as shrinking demand hits sales forecasts
Victoria's Secret & Co. at the New York Stock Exchange, September 7, 2021. Source: NYSE Victoria's Secret shares plunged about 29% premarket on Thursday after the lingerie brand forecast weaker annual sales following a sluggish start to the year as shoppers in its key North America market switch to cheaper options. The company, popular...