With earnings season raging this week, most investors have one thing on their minds: growth. But for investors paying attention, earnings season also rats out companies quietly and consistently shrinking.
If analysts' 2014 revenue forecasts are accurate, 11 companies in the Standard & Poor's 500, including drug maker Bristol-Myers Squibb, defense contractor Northrop Grumman, retailers Staples and Avon and computer company Hewlett-Packard, are expected to be the fastest shrinking companies this decade so far, based on a USA TODAY analysis of data from S&P Capital IQ.
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These are the companies that have been steadily declining in size either by seeing demand for their products dry up, pricing power evaporate or by taking other corporate moves that reduce their size. Only non-financial companies that posted revenue declines in 2012, 2013 and expected to shrink again in 2014 were included.