Comparable sales of Home Depot, the largest US chain of stores selling tools for repair and building materials, in the first quarter ended April 29, 2018, for the first time in the last 7 quarters did not reach Wall Street forecasts. The reason for this was a slower than expected start of the spring sales season amid the cool weather in several states. The volume of transactions of the company for the quarter decreased by 1.3%. The growth in sales in Home Depot stores, opened more than a year ago, did not reach the forecasts of the analysts, who had expected a rise in sales by 5.38%. Net profit amounted to 2 billion 400 million dollars with a projected profit of 2 billion 50 million dollars.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
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 ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...