Crocs’ revenue fall leads to share sell-off August 3, 2016 Crocs – the US maker of lightweight clogs – left investors wrong-footed yesterday after reporting a slide in sales and a disappointing outlook. Revenue fell six per cent to $324m (£243m) from $345m a year ago, below the consensus estimate of $348m. Net income came in at $15.5m, or 13 cents a share, slightly higher [...]
Twitter’s share price takes flight on buyout rumours August 3, 2016 Shares in micro-blogging site Twitter have jumped today on rumours former Microsoft boss Steve Ballmer and Saudi investor Prince Al-Waleed Bin-Talal could make a buyout offer for the company. Shares are up by over eight per cent in New York, climbing to $17.72 after falling as low as $15.77 in July. Twitter shares hit an all time low of [...]
Office Depot to close stores and cut costs after its Staples tie-up failure August 3, 2016 US stationery supplier Office Depot is planning to close a further 300 stores over the next three years to help cut costs by $250m (£187m). The announcement came as the company posted profit of $210m, or 38 cents a share for its second quarter, from a loss of $58m in the same period a year ago. [...]
SodaStream’s sales fizz after brand overhaul August 2, 2016 Sodastream – an Israeli company which makes home carbonating devices – is sparkling after working to reposition its brand. The company has shifted away from sugary drinks and into sparkling water as consumers turn towards healthier food and drinks. Sodastream’s net income bubbled up to $7.8m, or 37 cents a share, from $3.5m in the second [...]
Hyatt Hotels’ income hits suite spot as revenue per available room up August 2, 2016 Hyatt Hotels has beaten expectations with second-quarter net income of $67m (£50m). It reported earnings of 64 cents per share, surpassing analysts’ expectations of 47 cents per share. The US-based hotel operator posted revenue of $1.17bn in the period, meeting Wall Street forecasts. Its revenue per available room (RevPAR), a key performance metric for the [...]
CVS Health falls short and pares back forecasts August 2, 2016 CVS Health – a US pharmacy chain and healthcare business – has missed expectations and been forced to lower its full-year guidance. CVS reported a profit of $924m (£636m), or 86 cents a share for its second quarter, down from $1.27bn in the year before. Revenue rose 18 per cent to $43.7bn, below analysts’ expectations of [...]
Drop in pound and higher fuel prices weigh on Royal Caribbean August 2, 2016 Rising fuel prices and negative currency effects – notably from the fall in the pound – have forced Royal Caribbean Cruises to cut its full-year outlook. Despite the warning Royal Caribbean reported a profit of $229.9m (£172.6m), or $1.06 a share, up from $185m a year earlier. Revenue climbed 2.3 per cent, hitting $2.11bn compared [...]
P&G’s earnings Head & Shoulders above Wall Street’s expectations August 2, 2016 Consumer goods giant Procter & Gamble has racked up earnings of $1.95bn, or 69 cents a share, up from $521m in the same period a year ago. Though revenue fell 2.8 per cent to $16.1bn it still managed to handily beat Wall Street’s average estimates of $15.83bn. Sales growth in grooming and health care offset [...]
Pfizer share price sinks despite 11 per cent revenue leap August 2, 2016 Better-than-expected quarterly revenue and profit at viagra-maker Pfizer has not managed to stiffen its share price. Sales of newer drugs and the acquisition of hospital products company Hospira have sent revenue for the US-based drugmaker up by around 11 per cent to $13.15bn (£9.8bn) in its second quarter, narrowly beating out analyst expectations of $13.01bn. Net income for [...]
Bookmaker William Hill snaps up gaming software firm Grand Parade to keep up with digital shift August 2, 2016 William Hill has made moves to catch up with the gambling industry's shift to digital with the £13.6m acquisition of digital gaming software firm Grand Parades. Recently a huge amount of merger and acquisition activity has swept through the gambling sector. Paddy Power and Betfair came together in a £5bn tie-up, while Gala Coral and Ladbrokes merged in a £2.2bn [...]
