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Profit Warnings

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  • *Says 2014-15 trading profit will not exceed 1.4 bln stg. LONDON, Dec 9- Tesco cut profit expectations for the fourth time in five months on Tuesday as the cost of rebuilding after an accounting scandal and a dramatic loss of market share increased pressure on the British grocer and its new boss. Chief Executive Dave Lewis, who joined to rescue Britain's largest...

  • Tesco issues another profit warning   Monday, 8 Dec 2014 | 7:00 PM ET
    Tesco issues another profit warning

    Tesco's woeful year continued on Tuesday after the U.K. supermarket issued another profit warning saying that it did not expect full year profit to exceed £1.4 billion ($2.2 billion).

  • *Morgan Stanley cuts Brent forecast to £70 a barrel in 2015. LONDON, Dec 8- Brent crude oil fell more than a dollar to around $68 a barrel on Monday, just above five-and-a-half year lows, after Morgan Stanley cut its forecasts, saying oversupply would peak next year after OPEC decided not to cut output. "Without OPEC intervention, markets risk becoming unbalanced,...

  • BEIJING, Dec 8- Oil prices fell more than a dollar at one stage on Monday after Morgan Stanley cut its forecast for Brent crude, approaching a five-year low hit early this month, and the market got little support from mixed Chinese trade data. "Without OPEC intervention, markets risk becoming unbalanced, with peak oversupply likely in the second quarter of 2015,"...

  • SINGAPORE, Dec 8- Oil prices fell by more than a dollar on Monday to near their lowest levels since 2009 after Morgan Stanley cut its price forecast for Brent, saying oversupply will likely peak next year with OPEC deciding not to cut output. "Without OPEC intervention, markets risk becoming unbalanced, with peak oversupply likely in the second quarter of 2015,"...

  • BERLIN, Dec 5- German industry orders rose far more than forecast in October and though the Bundesbank dampened the mood by slashing its growth forecasts for Europe's largest economy, its president said there were signs current weakness would soon be overcome. Industrial orders surged by 2.5 percent on the month in October thanks to strong domestic demand...

  • Express 3Q results mixed, cuts full-year forecast Thursday, 4 Dec 2014 | 12:51 PM ET

    Express results topped the average estimate of analysts surveyed by Zacks Investment Research by a penny per share.

  • *Expects 2015 profit of $3.00- $3.15/ share vs $2.94 last year. *Posts fourth-quarter profit of $1/ share vs estimates of $1.07. The company's printwear business sells plain T-shirts, fleece, and sport shirts mainly to wholesale distributors and screen printers in North America, Europe and Asia Pacific.

  • ECB sharply cuts inflation and growth forecasts Thursday, 4 Dec 2014 | 8:52 AM ET

    FRANKFURT, Dec 4- The European Central Bank slashed its forecasts on Thursday for growth and inflation over the next two years, saying the outlook had deteriorated since its last staff forecasts were published in September. It forecast 2014 inflation at 0.5 percent, rising slightly to 0.7 percent next year and 1.3 percent in 2016.. ECB President Mario Draghi...

  • *Cuts full-year adjusted profit forecast. Dec 3- Struggling teen apparel retailer Abercrombie& Fitch Co said it expected its turnaround efforts to bear fruit next year, but warned of a tough holiday quarter as it discounts heavily. "...we view Abercrombie as a turnaround story that remains largely on track despite the third quarter setback," Suntrust Robinson...

  • Abercrombie cuts forecast on higher discounts Wednesday, 3 Dec 2014 | 10:00 AM ET
    Pedestrians are reflected in the window of an Abercrombie & Fitch store in San Francisco.

    Abercrombie & Fitch cut its full-year profit forecast as higher discounts and efforts to refresh its merchandise failed to attract young customers.

  • Dec 3- Struggling apparel retailer Abercrombie& Fitch Co cut its full-year profit forecast as higher discounts and efforts to refresh its merchandise by dropping the logo-centric approach failed to attract young customers. Abercrombie, which has most of its stores in malls, has been hurt also as fewer people visit malls in North America and Europe and prefer...

  • RUSSIAN ECONOMY MINISTRY CUTS 2015 AVERAGE OIL PRICE FORECAST TO $80 PER BARREL FROM $100.

  • ASOS annual profit falls 14% on strong pound Tuesday, 21 Oct 2014 | 2:20 AM ET

    British online fashion retailer ASOS posted a 14 percent fall in annual profit after the strength of sterling hit sales growth.

  • Tesco: 'Free rein to bring in a new strategy'?   Tuesday, 23 Sep 2014 | 4:19 AM ET
    Tesco: 'Free reign to bring in a new strategy'?

    The investigation into Tesco's accounting errors points so "some failure of corporate governance", CNBC's Catherine Boyle reports.

  • Tesco in 'really tricky situation': Pro   Monday, 22 Sep 2014 | 11:00 AM ET
    Tesco in 'really tricky situation': Pro

    Bruno Monteyne, senior analyst at Bernstein, says Tesco's accounting error was not a big surprise and that the group is in a "really tricky situation".

  • Dunkin' misses estimate, but CEO sees silver lining Thursday, 24 Jul 2014 | 4:36 PM ET
    A customer enters a Dunkin' Donuts store in midtown Manhattan in New York.

    Dunkin' Brands reported weaker-than-expected U.S. quarterly same-restaurant sales due in part to a cold and rainy start to the spring season.

  • Can Sony reprogram for recovery?   Thursday, 1 May 2014 | 4:50 AM ET
    Can Sony reprogram for recovery?

    Manoj Menon, partner and managing director at Frost & Sullivan, comments on the news that Sony has slashed its profit outlook by over two thirds and says the good news is that the group is getting out of the PC business.

  • Is UK plc back with a bang?   Wednesday, 19 Feb 2014 | 3:30 AM ET
    Is UK plc back with a bang?

    Gavin Oldham, executive chairman of Share Centre, discusses growth in U.K. companies and their prospects.

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

    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.