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According to the results of the financial quarter ended in February, American company Nike, which produces sporting goods, reported a net profit of $1 billion 101 million, as opposed to a net loss of 921 million dollars recorded at the end of the same quarter a year earlier. The reason for unprofitability in the previous year were changes in US tax laws. During the earnings period, the company increased revenues by 7% to 9 billion 611 million dollars, while expert had predicted 9 billion 600 million dollars. Revenue growth was recorded in all regions. China and Hong Kong showed the largest growth - by 19%. In the first nine months of the fiscal year, Nike's net profit grew 3.8 times, reaching $3 billion 40 million. The company's management, however, expects a slowdown in sales growth in the fourth quarter.
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 ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
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