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The British chain of department stores Marks & Spencer Group following the results of the financial year, which ended March 31, reported about the drop in pre-tax profit by 62%, or 2.6 times, to 66 million 800 thousand pounds sterling. The decrease was due to the planned closure of some stores. The one-time write-offs in this regard amounted to 515 million pounds. Adjusted profit was 580 million 900 thousand pounds, 5.4% down. The company increased revenue for the year by 0.8% to 10 billion 700 million pounds. Previously, Marks & Spencer announced plans to close more than 100 stores until the end of 2022. The profit after accounting for taxes in the past financial year fell by 75% to 29 million 100 thousand pounds. At the same time, the company retained annual dividends at the level of 18.7 pence per share.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
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 ...
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, ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Levi Strauss & Co (LEVI.N) expects that its business would lose footing in the second half of the year. The company deemed it possible even as its sales were seen recovering at its reopened stores, following virus-related lockdowns imposed ...
KYC Policy