A look at some of the key business events and economic indicators upcoming this week:
Zoom Video Communications reports its second-quarter results on Monday. The San Jose, California-based video-conferencing service powers everything from distance learning to business meetings to casual, socially distant get-togethers. At the end of the first quarter, it had 265,400 customers with more than 10 employees, more than four times the year-earlier total.
Losses in store
Macy’s reports its second-quarter earnings on Wednesday. The New York City-based chain of nearly 800 department stores including Macy’s and Bloomingdale’s is pivoting its Black Friday business more toward online and will likely be going “full force” with marketing right after Halloween. Macy’s posted a massive loss in the first quarter as shutdowns to curb the spread of the coronavirus took a big financial toll. It’s forecast to have continued losing money in the second quarter.
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Lawnmower maker Toro is expected to report a second consecutive quarter of falling earnings on Thursday. The Bloomington, Minnesota-based company also makes Boss snowplows and Lawn-Boy grass mowers. Toro blamed the pandemic for falling sales and profit last quarter. In June it scrapped its financial guidance and said it would not give investors an outlook until “visibility” returned.
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