Sonos slashes full-year guidance behind softening demand
Shares of Santa Barbara-based Sonos have dipped more than 30% since the company’s second-quarter earnings were announced on May 10, revealing that the company would be slashing its fiscal projections for the full year. For the quarter ended March 31, Sonos generated revenue worth $304.2 million, down 22.4% year-over-year while gross margin decreased 150 basis Read More →
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Trade Desk starts the new year strong, beats first-quarter expectations
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First Republic Bank is operational after seizure and sale to JPMorgan Chase
First Republic Bank branches across the country, including the only one in the tri-county region located on Santa Barbara’s State Street, were fully open and operational on May 1 after regulators seized and promptly sold the bank to JPMorgan Chase the same day to avoid any further fallout. The First Republic Bank failure is the Read More →
American Riviera reports smaller net income, adds hundreds of new depositors
American Riviera Bank, based in Santa Barbara, reported a net income of $3 million for the quarter ending on March 31, representing a decrease of 6% over the same period last year. Earnings per share for the first quarter totaled 52 cents per share, compared with 55 cents per share this time last year, according Read More →
Notable rebuild of SLO’s historic Anderson Hotel begins
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