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The American company Nike, which manufactures sportswear and footwear, following the results of the 4th financial quarter till May 31, reduced its net profit by 13% compared to the same period a year earlier to $989 million. Earnings per share in the amount of 62 cents did not reach the forecast of experts who had expected 66 cents per share. Quarterly revenue was at the level of 10.184 billion dollars. For the year, it rose by 4%. According to economists' forecasts, the growth rate was expected to 10.16 billion dollars. The largest increase in revenues was recorded in China and Hong Kong, where the figure jumped 16% while excluding exchange rate differences, its growth was 22%. At the same time, revenue decreased by 4% in the Asia-Pacific region and Latin America. At the end of the fiscal year, Nike increased its earnings by 108%. Its revenue increased by 7%.
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, ...
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 ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
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