Tag Archives: falls

Profit falls at Sainsbury’s for third straight year

British supermarket Sainsbury’s on Wednesday reported a third straight year of underlying profit decline, despite the boost to earnings from last year’s purchase of Argos, the general merchandise retailer. Sainsbury’s, which trails market leader Tesco in annual sales, also cautioned that it saw no let-up in the intensely competitive UK market any time soon. “The market remains competitive… Read More »

KitKat maker Nestle misses forecasts as profit falls

Nestle, which makes KitKats, Nescafe and Purina pet food, has said it will steepen its cost-cutting plan after unveiling disappointing results. Net profit for 2016 fell to 8.5bn Swiss francs (£6.78bn) from 9.1bn a year earlier. Analysts had expected 9.59bn francs’ worth of profit. Sluggish food inflation in most of its markets and easing demand in emerging markets… Read More »

Falls in Smith & Nephew, miners weigh on FTSE

Britain’s top share index steadied on Thursday as falls among mining stocks weighed, while Smith & Nephew dropped after posting disappointing results. The blue chip FTSE 100 index was up 0.1 percent at 7,192.70 points by 1028 GMT, underperforming the broader European market. Artificial hip and knee maker Smith & Nephew booked a 7 percent drop in full-year… Read More »

U.S. jobless rate falls to nine-year low, payrolls rise

The U.S. unemployment rate fell to a nine-year low of 4.6 percent in November, as employers added another 178,000 jobs, making it almost certain that the Federal Reserve will raise interest rates later this month. The unemployment rate hit its lowest level since August 2007 because more people found work but also because the labor force shrank as… Read More »

UK inflation rate falls to 0.9% in October

The UK inflation rate registered a surprise fall in October, although there were signs that the pressure on consumer prices is starting to build. Consumer Prices Index (CPI) inflation fell to 0.9%, from 1% in September, the Office for National Statistics said. That was below the 1.1% predicted by economists, who said sterling’s fall would push October’s CPI… Read More »

Sainsbury’s sees tougher end to year after first-half profit falls

British supermarket Sainsbury’s (SBRY.L) warned that higher staff wages and its price battle with rivals would mean a tougher second half after first-half profit fell by 10 percent. Sainsbury’s is a distant second behind market leader Tesco (TSCO.L) in a retail sector which has been shaken by the rise of German discounters Aldi and Lidl. Seeking to expand… Read More »

FTSE boosted by rising miners, Burberry falls

British stocks climbed on Tuesday, rebounding from a fall in the previous session as rising mining companies helped outweigh a sharp drop in Burberry’s shares. The blue chip FTSE 100 index was up 1 percent at 7,018.99 points by 0904 GMT, in line with a broader rally among continental European indexes. Luxury goods maker Burberry, however, slumped 8.5… Read More »

Tod’s core profit falls 16 percent on shrinking sales in China

Core profit at Italian luxury goods maker Tod’s (TOD.MI) was down 16 percent in the first half of the year with respect to 2015, bogged down by weak sales in Greater China and falling tourist spending in Europe and the United States. Tod’s said on Wednesday earnings before interest, tax, depreciation and amortization (EBITDA) in the first six… Read More »

Oil falls more than 3 percent; U.S. crude draw seen as glitch

Oil prices fell more than 3 percent on Friday, paring the previous session’s rise as traders noted that a tropical storm was behind this week’s unexpected slump in U.S. crude inventories. The market remained on course for a weekly gain of nearly 5 percent, its first gain in three weeks. Traders cited hopes for a global deal on… Read More »

Barclays first-quarter profit falls 33 percent as investment banking slowdown bites

Barclays (BARC.L) reported a worse than expected 33 percent slump in pretax profits for the first three months of the year, as the lender followed its U.S. peers in reporting falling investment banking revenues in a weak global market environment. Barclays said first quarter pretax profits fell to 793 million pounds ($1.15 billion), just below the average forecast… Read More »