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.
The company benefited in the quarter from the home improvement industry's busiest time of the year, spring, and sales remained high through the beginning of May, the company said.
Video game publisher Take-Two Interactive is surging into Wednesday afternoon's earnings report, and options traders are betting on even more gains to come.
Kohl's net sales tanked 43.5% during the first quarter, the company said Tuesday, as its stores were forced temporarily shut due to the Covid-19 crisis.