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Profit Warnings

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  • UPDATE 2-Mulberry shares plunge on major profit warning Wednesday, 29 Jan 2014 | 4:09 AM ET

    LONDON, Jan 29- British luxury fashion group Mulberry warned its annual profit would be substantially below forecasts due to heavy Christmas discounting in Britain and weak demand in South Korea, wiping more than a quarter off its shares.

  • UK profit warnings fall to 3-year low: EY     Monday, 27 Jan 2014 | 4:30 AM ET

    Keith McGregor, EMEIA restructuring leader at EY, points out that U.K. profit warnings fell to a three-year low in 2013 due to "great momentum" in the first half.

  • LONDON, Jan 27- Oil and gas firm BG Group issued a profit warning and cut its production forecasts for this year and next, blaming turmoil in Egypt and sending its shares down as much as 15 percent.

  • Jan 23- Slot-machine maker International Game Technology warned that it full-year profit would more likely be towards the lower end of its previous forecast due to continued weakness in the North American gaming market. The company had forecast fiscal 2014 adjusted earnings of $1.28- $1.38 per share in November.

  • Jan 22- Motorola Solutions Inc, which makes walkie-talkies and rugged mobile computers, reported a slight rise in quarterly profit, helped by higher government sales, but forecast a steep drop in first-quarter sales. Motorola Solutions forecast a 4-6 percent drop in current-quarter revenue.

  • ABB sees fourth-quarter net profit of $525 mln Wednesday, 22 Jan 2014 | 2:08 AM ET

    ZURICH, Jan 22- ABB said it expected fourth-quarter net profit of $525 million, after a profit warning for its power division earlier on Wednesday.

  • *Strong UK retail sales bolster sentiment. LONDON, Jan 17- European shares edged up to fresh 5-1/ 2 year highs on Friday, with much stronger-than-expected UK retail sales reassuring about the strength of the region's economy and counterbalancing a profit warning by Shell.

  • Shell troubles are not new: Analyst     Friday, 17 Jan 2014 | 5:50 AM ET

    Peter Hutton, energy analyst at RBC Capital Markets, comments on Shell's profit warning and says it is a "reminder" and not new information.

  • European shares steady around peaks, Shell slumps Friday, 17 Jan 2014 | 3:34 AM ET

    LONDON, Jan 17- European shares steadied around 5-1/ 2 year highs on Friday, with gains pegged back by a profit warning from oil major Royal Dutch Shell which followed a crop of weak earnings from heavyweight U.S. companies overnight. The news saw Britain's FTSE 100- where Shell's A and B shares together make up around 8 percent of the index- lag other European bourses.

  • Jan 14- GameStop Corp, the world's largest videogame retailer, warned of lower-than-expected profit as sales sagged for games played on older versions of Xbox and PlayStation consoles. Morningstar analyst Liang Feng said too much of a drop in sales of old console software could hurt GameStop as it is historically the company's strongest business.

  • *Company sees 4th- qtr revenue of $513- $518 mln. *Sees earnings 71- 73 cents/ share, down from 78- 80 cents. Jan 13- Sales at Lululemon Athletica Inc's established stores will likely fall in its latest quarter, the first year-on-year drop since 2009, the company warned on Monday, the latest in a spate of setbacks for the once high-flying yogawear retailer.

  • *Sees earnings 71- 73 cents/ share, down from 78- 80 cents. Jan 13- Sales at Lululemon Athletica Inc's established stores will likely drop in the fourth quarter, the first year-on-year drop since 2009, the company warned on Monday, the latest in a spate of setbacks for the once high-flying yogawear retailer.

  • *Expects fourth-qtr net revenue $513 mln- $518 mln, down from $535 mln- $540 mln. *Forecasts earnings of 71- 73 cents/ share, down from 78- 80 cents. Several U.S. apparel retailers including American Eagle Outfitters Inc and Zumiez Inc lowered their forecasts last week as reluctant shoppers forced them to offer steep discounts during the holiday shopping season.

  • *Expects 4th- qtr net revenue $513 mln- $518 mln, down from $535 mln- $540 mln. *Forecasts earnings of 71- 73 cents/ share, down from 78- 80 cents. The company said on Monday it expects net revenue to range between $513 million and $518 million for the quarter ending Feb. 2, down from $535 million to $540 million earlier.

  • Downward slog: Lululemon cuts forecast; shares drop Monday, 13 Jan 2014 | 6:52 AM ET
    A woman wearing Lululemon Athletica clothing leads a yoga class in Miami Beach, Florida

    Upscale yogawear retailer Lululemon Athletica cut its forecast for the fourth-quarter due to weak sales in January.

  • Jan 13- Upscale yogawear retailer Lululemon Athletica Inc cut its forecast for the fourth-quarter due to weak sales in January. The company expects net revenue to range between $513 million and $518 million for the quarter ending Feb. 2, down from $535 million to $540 million earlier.

  • LONDON, Jan 3- European stocks edged higher on Friday, bolstered by a rally in retailers, but the major indexes remained capped below recent 5-1/ 2 year highs as investors locked in profits on a forecast-beating 2013.. The update reassured investors about the health of the broader sector following a profit warning from rival Debenhams.

  • European shares steady below peaks, Next rallies Friday, 3 Jan 2014 | 3:56 AM ET

    LONDON, Jan 3- European stocks steadied below their recent 5-1/ 2 year peaks on Friday, as a rally in retailers fueled by an encouraging update from Next was offset by a decline in mining shares following weak Chinese data. The update reassured investors about the health of the broader sector following a profit warning from rival Debenhams.

  • LIMA, Dec 20- Peru's central bank slashed its official forecast on Friday for economic growth this year to 5.1 percent from its September forecast of 5.5 percent. Central Bank President Julio Velarde said on Friday the bank is more inclined to loosen requirements for commercial bank reserves than to cut the benchmark rate again.

  • Rite Aid cuts full-year profit forecast; shares fall Thursday, 19 Dec 2013 | 12:29 PM ET

    Dec 19- Rite Aid Corp, the third-largest U.S. drugstore chain, cut its full-year profit forecast, mainly due to Medicare reimbursement cuts and higher cost of some generic drugs, sending the company's shares down as much as 11 percent. Rite Aid cut its full-year profit forecast to 17- 23 cents per share from 18- 27 cents per share.

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