CNBC Earnings

The worst earnings season in years is about to begin, and stocks could shrug off sharp profit declines, if companies see signs of recovery.

Walgreens Boots Alliance said its profits were squeezed by a shift in sales to low-margin items, increased supply-chain costs and higher expenses for labor and store cleaning.

A complete recovery "will likely take some time," Levi & Strauss Co. CEO Chip Bergh said.

The road to recovery at Macy's is likely going to be a rocky one because of the coronavirus pandemic. The retailer warned Wednesday that sales are falling again in states such as Texas where Covid-19 cases are on the rise.

Michael Kors owner Capri Holdings on Wednesday estimated a 70% slump in first-quarter sales after the coronavirus hammered luxury sales.

Macy's on Wednesday reported a first-quarter loss, in line with the retailer's previously announced estimates, as its business took a hit from the coronavirus pandemic.

Shares of FedEx jumped 9.4% in extended trading on Tuesday after a surge in pandemic-fueled home deliveries helped the U.S. package carrier post better-than-expected quarterly profit and revenue.

Investors should stay bearish on U.S. stocks until the full extent of the economic damage caused by the coronavirus pandemic is known, according to TS Lombard.

Micron Technology on Monday forecast current-quarter revenue above Wall Street estimates as home-bound employees and students spur demand for its chips that power notebooks and data centers, sending its shares up 6% in after-market trading.

Burger King's U.S. same-store sales are trending flat as customers return to its locations for Whoppers and french fries.

The second quarter is nearly over, and analysts still are clueless about what earnings companies will be reporting.

Even Nike, often lauded as one of the strongest global brands in the retail industry, is taking a hit from the coronavirus pandemic.

Darden Restaurants reported that same-store sales were nearly cut in half during the fiscal fourth quarter.

Sales declines returned as Oracle kept doing business through the pandemic.

Lululemon reported a first-quarter sales decline of 17%, as its strong digital business wasn't enough to offset the losses from its stores being temporarily shut due to the coronavirus pandemic.

Starbucks expects to swing to a loss in its fiscal third quarter as the company predicts it lost as much as $3.2 billion in revenue due to the pandemic.

Yum Brands said Tuesday that Taco Bell's U.S. same-store sales have declined by high-single digits so far in the quarter.

During a virtual fireside chat with Cowen & Co. analyst Oliver Chen, Macy's Chief Financial Officer Felicia Williams said the company does not expect sales trends to normalize until 2021 or possibly 2022.

The U.S. jewelry maker said Tuesday in an earnings release that its same-store sales were down about 44% in the fiscal first quarter, but said demand has picked up again in China.

Stitch Fix on Monday reported a quarterly sales decline of 9%, and a wider-than-expected net loss.