The World Bank defied general consensus last night by announcing new forecasts for the UK and US economies, which it believes are set to grow strongly in the new year.
US department store group Macy’s Inc. on Wednesday announced it had cut its full-year same-store sales, stating that a 3.3 per cent rise in second-quarter sales would not offset weakness from the first quarter.
Diesel’s parent company Pacific Brands this week slashed its full year guidance and flagged a strategic review to streamline its business.
EBay has announced a lower-than-expected sales and profit forecast for its final quarter.
Food and apparel company Associated British Foods Plc has revealed it expects second-half earnings to exceed its own expectations for the period thanks to a surge in growth at its fast-fashion chain, Primark. The FTSE 100 company said its adjusted operating profit for the second half will top forecasts, while adjusted earnings share for the 12 months to 14 September will “show good progress,” the group said in a statement on Monday.
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