Broadcom forecast current-quarter revenue, the mid-point of which was slightly below Wall Street estimates as its chip business was weighed down by the impact of the coronavirus crisis on global supply chains.
Gap Inc.'s first-quarter sales fell 43%, the clothing maker reported Thursday, as its stores were shut for much of the period due to the coronavirus pandemic.
Zoom has been a darling of the work-from-home culture brought on by coronavirus, and the company's revenue growth accelerated in its most recent quarter.
The maker of Prego pasta sauce and Goldfish crackers now expects fiscal 2020 adjusted earnings per share of $2.87 to $2.92, up from its prior range of $2.55 to $2.60.
The company said its net loss stood at $257.2 million, or $1.54 per share, in the quarter ended May 2, compared with a profit of $40.8 million, or 23 cents per share, a year earlier, mainly due to an impairment charge of about $156 million.
Dick's Sporting Goods reported a decline in first-quarter same-store sales of almost 30%, as its stores across the country were shut by the coronavirus crisis.
U.S. luxury homebuilder Toll Brothers on Wednesday withdrew its full-year forecast and warned it would not provide such guidance for the foreseeable future due to uncertainty caused by the Covid-19 pandemic.
Box forecast annual revenue above analysts' estimates and beat targets for quarterly sales on Wednesday, as demand rises for its online collaboration tools due to the global shift to work from home caused by the Covid-19 pandemic.
"In May, for the second straight month, Papa John's team members and franchisees delivered the best sales period in the company's history," CEO Rob Lynch said Wednesday.
The retailer had a surge of sales during the early weeks of the pandemic, but later furloughed about 51,000 employees and took other cost-cutting measures.
Macy's expects first-quarter sales to fall by as much as 45%, and it could report a loss of more than $1 billion, as the department store operator was forced to shut stores amid the Covid-19 crisis.