Cars.com: Q1 Earnings Snapshot
CHICAGO (AP) — CHICAGO (AP) — Cars.com Inc. (CARS) on Thursday reported a first-quarter loss of $2 million, after reporting a profit in the same period a year earlier.
The Chicago-based company said it had a loss of 3 cents per share. Earnings, adjusted for one-time gains and costs, were 37 cents per share.
The online automotive marketplace posted revenue of $179 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $179.3 million.
Cars.com shares have declined 35% since the beginning of the year. The stock has decreased 34% in the last 12 months.
_____
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New York Post
10 minutes ago
- New York Post
New Manhattan homes for menswear stores Charles Tyrwhitt, Tom Ford
London-based menswear store Charles Tyrwhitt is moving from 437 Madison Ave. to RFR Realty's 477 Madison, doubling its space in the process. Tyrwhitt signed for 3,800 square at the East 51st Street corner. The deal was handled for the landlord by MONA, a retail brokerage backed by RFR's Aby Rosen. Cushman & Wakefield acted for the tenant. Charles Tywhitt has a half-dozen Manhattan locations. Advertisement The building's offices are mostly leased. Recent signings include for Treville Capital and Fiera Capital. 477 Madison Ave. will be the new home menswear store Charles Tyrwhitt. One more Park Avenue office address has filled up. Advertisement Tom Ford Fashion signed a 10-year, 11,118 square-foot lease at SL Green's 500 Park Ave., bringing the landmarked, 201,000 square-foot building at East 59th Street to 100% leased. Tom Ford Fashion has signed a 10-year lease for 500 Park Ave., above. Brian Zak/NY Post Advertisement Other office tenants include The Georgetown Company, Vera Wang and Friedland Properties. Furniture store FRATO's flagship showroom is the retail tenant. Meanwhile, the former Hammacher Schlemmer headquarters building at 145 E. 57th St. can also boast 100% occupancy. Data Science Innovators took 5,067 square feet, landlord ABS Partners announced. Danish furniture maker Carl Hansen & Son replaced Hammacher Schlemmer on the retail floors.
Yahoo
28 minutes ago
- Yahoo
Developer seeks flexibility for design of affordable housing project
Jun. 8—ROCHESTER — A Santa Monica, California, developer is seeking support for deviating from Rochester development code standards to construct a 149-unit apartment complex along Fourth Street Southeast, just east of the Bear Creek Bridge. Lincoln Avenue Communities is proposing a 360-foot-long building, with a decreased rear setback along the river trail south of the site. The proposal exceeds length standards by 60 feet. "The length of this new building should not have any adverse impact on any abutting lots," Scott England, a principal with Minneapolis-based DJR Architecture, stated in a letter with Lincoln Avenue. "The building's length is broken up by multiple vertical architectural components that visually provide for pleasing visual breaks in the façade." Staff from the Rochester Community Development department are supporting the request, pointing to the ability to add downtown-adjacent parking with infill development across five lots, as well as efforts to provide an active use for the site that sits on a transit corridor. "The applicant has worked closely with city teammates to ensure compliance with the unified development code and district design standards," Rochester planner Elliot Mohler stated in a report to the Planning and Zoning Commission. "This includes street activation strategies such as benches, raised planters, additional plantings and bike parking." Lincoln Avenue Communities, which specializes in constructing and managing housing with rents below market rate, plans to lease apartments at rates considered affordable for households earning 60% of the area median income. "For a single parent with a few kids, this equates to $60,000 to $70,000 per year for income to qualify for housing, so it really is true workforce housing," Sarah Robbins, an associate with Lincoln Avenue Communities, told neighbors in April during a required informational meeting. Current state guidelines would cap potential rents at nearly $1,700 for a two-bedroom apartment under the tax credit program Lincoln Avenue seeks to utilize. The project is slated to feature 41 one-bedroom apartments, 77 two-bedroom units and 31 three-bedroom apartments, as well as one level of underground parking. While a site consolidation and a development plan for the project remain under review, the Planning and Zoning Commission will be asked to determine whether the construction variance will be allowed. Before making a decision, a public hearing on the issue will be held during the commission's meeting at 5 p.m. Wednesday in council chambers of the city-county Government Center. If development plans are approved, the apartment complex could be added to more than 150 Lincoln Avenue Communities properties throughout the nation. Company Vice President James Riley said the goal for the company's first Rochester project is to start construction in early 2026, if required development and financing approvals are obtained. Meetings scheduled to be held during the week of June 9 include: Rochester —City Council study session, 3:30 p.m. Monday in council chambers of the city-county Government Center, 151 Fourth St. SE. The meeting will livestream at and be available on Spectrum cable channel 180 or 188. —Police Policy Oversight Commission, 3:30 p.m. Tuesday in room 164B of the Development Services and Infrastructure Center, 4001 West River Parkway NW. —Sustainability and Resiliency Commission, 4:30 p.m. Wednesday in room 104 of City Hall, 201 Fourth St. SE. —Planning and Zoning Commission, 5 p.m. Wednesday in council chambers of the Government Center. —Citizens Advisory on Transit, 4:30 p.m. Thursday in room 104 of City Hall. Olmsted County —Housing and Redevelopment Authority, 4 p.m. Thursday in board chambers of the Government Center. Rochester Public Schools —School Board study session, 5:30 p.m. Tuesday in the boardroom of the Edison Building, 615 Seventh St. SW.
New York Post
3 hours ago
- New York Post
Craft giant Michaels buys Joann's intellectual property, fan-favorite labels
NEW YORK — Craft labels from the now-shuttered fabrics seller Joann are making their way to a new home: Michaels. The Michaels Companies announced on Thursday that it had completed its purchase of Joann's intellectual property and private label brands — in an acquisition that arrives as the Texas-based arts and crafting chain works to expand its own fabric, sewing and yarn offerings. 'We're honored to have the opportunity to welcome JOANN customers into our creative community and are committed to delivering the selection, value, and inspiration they are looking for at Michaels,' Michaels CEO David Boone said in a statement. Advertisement Craft labels from the now-shuttered fabrics seller Joann are making their way to a new home. Christopher Sadowski The deal, he added, allows the company to better 'respond to rising demand' among both new and existing customers. Financial terms of the acquisition were not disclosed. The Associated Press reached out to Michaels for further information on Friday. Advertisement With roots dating back to a single Ohio storefront in 1943, Joann had grown into a destination for generations of sewers, quilters, knitters and lovers of other crafts for more than 80 years. But more recently, operational challenges continued to pile up — with the retailer pointing to sluggish consumer demand, inventory shortages and rising competition. Joann announced it would be going out of business back in February, just one month after filing for Chapter 11 bankruptcy protection for the second time within a year. Advertisement The Michaels Companies announced on Thursday that it had completed its purchase of Joann's intellectual property and private label brands. NurPhoto via Getty Images At the time, the company said financial services company GA Group, together with Joann's term lenders, had been selected as the winning bidder to 'acquire substantially all of Joann's assets' and conduct going-out-of-business sales at all store locations. Michaels on Thursday said that its purchase of Joann's IP and private brands included the acquisition of 'Big Twist' yarns, which had become a staple in Joann stores over the years. Those 'Big Twist' labels are now being developed as part of Michaels' portfolio — and will be available in-stores and online later this year, the company said. Advertisement In the meantime, Michaels has also dedicated a landing page to welcome former Joann customers online. And as part of its overall expansion into fabrics, Michaels said on Thursday that its adding more than 600 new products from new and existing brands — including quilting supplies and fabrics, specialty threads, sewing machines and more. Michaels, founded in 1973, currently operates 1,300 stores across 49 U.S. states and Canada. Its parent company also owns Artistree, a framing merchandise manufacturer.
