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In the third quarter, comparable sales of US retailer Gap in stores operating for at least a year decreased by 7%. Experts had predicted a less significant drop - by 4%. The growth in sales of the Old Navy brand by 4% also did not reach the forecasts of economists, who had expected a rise of 4.65%. At the same time, quarterly profit, excluding one-time balance items, in the amount of 69 cents per share was 1 cent higher than experts' forecasts. Net sales for the quarter amounted to 4 billion 90 million dollars, an increase of 6.5%. Analysts had predicted a figure of 4 billion 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, ...
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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