75BUSINESS NEWS TODAY – FRIDAY, SEPTEMBER 4, 2026
Stock futures are mixed as we head into the holiday weekend, with the S&P 500 and Nasdaq showing gains, and the Dow down 0.09%.
Bitcoin has a resurgence, with the value jumping more than $3,000 to $81,200 on Friday morning.
Biggest gainers from Thursday’s trading are Strategy Inc (+17.56%) and Summit Therapeutics, Inc. (+17.33%). Biggest losses are Pasqual Holding SA (-20.02%) and Victorias Secret Co (-11.17%).
On Thursday, September 3:
- The S&P 500 rose 81.11 to 7,747.71
- The Dow Jones Industrial Average rose 624.16 to 53,686
- The Nasdaq composite rose 157 to 29,524.
Long-Term Mortgage Rate Climbs Again
Mortgage rates rose again this week, driving the average long-term U.S. home loan rate to its highest level in 13 months.
The benchmark 30-year fixed rate mortgage rate rose 6.71% from 6.66% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average rate was 6.50%.
Higher mortgage rates can add hundreds of dollars a month in costs for borrowers, limiting homebuyers’ purchasing power. As rates rise, that can lead prospective home shoppers to delay buying a home. Home sales in 2026 are down from last year.
Volkswagen Launches Turnaround Plan, Will Eliminate 50,000 Positions
The Future Plan 2030 is the most strategically profound transformation program in the Volkswagen Group’s history. Its 12 initiatives are designed to make the Group and its brands more resilient and competitive under demanding market conditions:
- Strengthening the financial basis: The core automotive business takes center stage. As market conditions evolve, the Volkswagen Group plans for annual sales of nine million vehicles. The primary financial target is an operating margin of nine percent by 2030. This corresponds to an operating result of approximately €31 billion, with €37 billion in overhead costs and a target of €135 billion for capital expenditure and research and development in the planning period 2027 to 2031. Based on the Future Plan, the individual items of capital expenditure as well as research and development costs will be presented to the Supervisory Board in a validated and detailed form as part of the usual process in the course of Planning Round 75.
- Focusing on the most compelling vehicles: By 2035, the Volkswagen Group will streamline its model portfolio by around 50 percent and reduce its offering complexity by around 75 percent. The prioritized models aim to excel in design and technology – and benefit from the focus on fewer variants: Higher volumes per model, lower costs, stronger economies of scale. The Volkswagen Group is systematically tailoring its platforms, electronic architectures, driver assistance systems and software to the needs of both the Western and Eastern hemispheres.
- Taking efficiency to the next level: A group-wide Operational Excellence program pools the capabilities of research and development, procurement, production, quality, sales and overhead. The program targets significantly higher efficiency, smoother processes, greater speed and a measurable boost in competitiveness.
- Strengthening leadership, accelerating decisions: Leaner leadership structures, clear accountability and shorter lines of decision making empower teams to act faster and take greater ownership. A unified performance and bonus system for executives will drive accountability for individual results and collective performance.
- Establishing a competitive production structure: Consistent with the agreed target vision, a concept for a sustainable and competitive production structure is to be developed for the European plants by the end of June 2027. With its resolution, the Supervisory Board acknowledges that Volkswagen Group’s European capacity currently exceeds demand by more than 500,000 units and that a competitive future production allocation for the Emden, Zwickau, Hanover and Neckarsulm plants cannot currently be secured on a staggered basis from 2031 to 2034. In parallel and in addition, alternative uses for these plants are being assessed.
- Adjusting the workforce structure: Beyond existing programs, a further fundamental adjustment of the global workforce capacity is necessary to achieve the objectives of the transformation program and safeguard the competitiveness of the Volkswagen Group. Given intensifying global competition, shifting demand and technological change in the automotive industry, a consistent alignment of workforce capacity with economic reality is essential. According to the analysis underlying the Future Plan 2030, a Group-wide workforce adjustment of approximately 50,000 positions – including management roles – will be necessary.
Lululemon Announces Disappointing Earnings
VANCOUVER, British Columbia–(BUSINESS WIRE)– lululemon athletica inc. (NASDAQ:LULU) today announced financial results for the second quarter of fiscal 2026, which ended on August 2, 2026.
Meghan Frank, Interim Co-CEO and Chief Financial Officer, stated: “While we continue to navigate some challenging dynamics, we are taking a prudent approach with our revised full-year outlook. Our teams remain focused on accelerating growth by strengthening our product offerings, increasing our marketing investments, and maintaining disciplined expense management. Looking ahead, we have confidence in the strength of the lululemon brand, the deep connection we have with our guests and ambassadors, and the significant opportunities we see to drive long-term growth.”
André Maestrini, Interim Co-CEO, President, and Chief Commercial Officer, stated: “We remain confident in our ability to take the right steps to strengthen our performance and deliver sustainable growth over time. I would like to thank our teams around the world for their focused efforts and continued commitment to lululemon. We look forward to welcoming our incoming CEO, Heidi O’Neill, next week as we begin an exciting new chapter for the company.”
For the second quarter of 2026, compared to the second quarter of 2025:
- Net revenue decreased 4% to $2.4 billion, or decreased 5% on a constant dollar basis.
- Americas net revenue decreased 8%.
- International net revenue increased 4%, or 2% on a constant dollar basis.
- Comparable sales decreased 9%, or 10% on a constant dollar basis.
- Americas comparable sales decreased 12%.
- International comparable sales decreased 3%, or 6% on a constant dollar basis.
- Gross profit decreased 1% to $1.5 billion and gross margin increased 200 basis points to 60.5%.
- This includes $134.5 million of tariff refunds(1) which increased gross margin by 560 basis points.
- Income from operations decreased 13% to $453.7 million and operating margin decreased 190 basis points to 18.8%.
- The tariff refunds(1) of $134.5 million increased operating margin by 560 basis points.
- The effective income tax rate for the second quarter of 2026 was 29.6%, compared to 30.5% for the second quarter of 2025.
- Diluted earnings per share were $2.92 compared to $3.10 in the second quarter of 2025.
- This includes $0.86 per share related to tariff refunds and associated interest(1), net of tax.
- The Company repurchased 2.7 million of its shares for a cost of $330.0 million.
- The Company opened nine net new company-operated stores during the second quarter, ending with 825 stores.