Business Slowdown Archive

Signet Misses Second Quarter Forecasts

HAMILTON, Bermuda — Signet Jewellers Ltd. on Thursday reported fiscal second-quarter net income of $81.9 million. On a per-share basis, the Hamilton, Bermuda-based company said it had profit of $1.06. Earnings, adjusted for non-recurring costs, came to $1.14 per share. The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.47 per share. The …

Prada Sales Slide on Weak Demand

MILAN, Italy — Prada SpA reported the first decline in opening-half sales since its 2011 listing as weak demand in China and terrorist attacks in Europe continued to weigh on the Italian luxury-goods maker. Revenue fell 15 percent to €1.55 billion ($1.8 billion), the Hong Kong-listed company said in a statement Friday, missing the €1.65 billion average analyst estimate compiled by Bloomberg. Earnings also declined, though …

Express Misses 2Q Forecasts

Source: Express Inc. COLUMBUS, United States — Express Inc. on Wednesday reported fiscal second-quarter net income of $10.1 million. The Columbus, Ohio-based company said it had net income of 13 cents per share. The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share. The clothing and accessories chain …

Perry Ellis Reports 2Q Loss

MIAMI, United States — Perry Ellis International Inc. on Thursday reported a loss of $3.6 million in its fiscal second quarter. The Miami-based company said it had a loss of 24 cents per share. Earnings, adjusted for non-recurring costs, came to 15 cents per share. The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was breakeven on …

JC Penney Reports Smaller Loss in 2Q as Sales Improve

Source: J.C. Penney PLANO, Texas — JC Penney Inc. reported a smaller loss in the second quarter as the department store operator’s sales improved, fuelled by such moves as bringing back appliances and refreshing other areas of the store. Its shares rose more than 2 percent in premarket trading, The news is encouraging, but Penney still faces an uphill climb as it continues to claw …

Hugo Boss Lowers Profit Outlook as Sales Slow

METZINGEN, Germany — Hugo Boss AG lowered its profit forecast for 2016 as the struggling German fashion label reported a fall in second-quarter sales, highlighting the challenge facing new chief executive officer Mark Langer. Earnings before interest, taxes, depreciation and amortisation and other items will decline by 17 percent to 23 percent in 2016, the Metzingen, Germany-based company said in a statement on Friday. That …