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Weak financial performance in November was the reason for the decline in the annual sales growth forecast and the profit margin of the British online retailer of fashionable clothes, Reuters reports. Sales growth and profit margins were worse than market expectations. The deterioration of the forecast affected the dynamics of the company's shares. On Monday, at 1:50 pm Moscow time, their price dropped sharply - by 39.3%. The intensification of the crisis in the UK retail sector has also affected the shares of other British retailers. Mark&Spencer shares lost 3.2% of their value. Next shares fell 3.7%, Boohoo - 10.5%.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
Samsung Electronics’ shares joined TSMC, its competitor, as both extended gains on Tuesday. This was mainly from upbeat expectations that Intel Corp’s plan of outsourcing more chip producers would favor the chipmakers. Shares of ...
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