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The second largest jewelry retail chain in the world, the American company Tiffany, following the results of the fourth financial quarter, which ended in late January, reported on a significant jump in net profit due to the US tax reform, finversia.ru writes. The annual rate increased 3.3 times, reaching 204.5 million dollars. Earnings per share in the amount of 1 dollar 67 cents exceeded the forecast of experts, who had predicted the amount of 1 dollar 60 cents. At the same time, revenue of 1 billion 320 million euros showed an annual decline of 1%. Economists had predicted a figure of 1, 33030 thousand dollars. The company's message indicates a decrease in demand for jewelry in most regions. Tiffani recorded a 2% drop in comparable sales. The results of the entire fiscal year showed net profit growth 1.6 times to 586 million dollars. The company noted a record annual profit of $4 billion 400 million, its growth was 7%. Growth in comparable sales was at the level of 4%.
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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