"The Independent" said : Marks and Spencer reports slump in profit hurt by clothing sales and cost of new food stores
Fourth quarter profit was particularly dented by Easter falling later, and therefore outside of the reporting period. Since announcing the results of a sweeping strategist review last year, M&S has opened 68 new food stores and completed consultation on shop closures in 10 loss-making international markets. High street stalwart Marks and Spencer has reported a more than 60 per cent fall in pre-tax profit in the year to the end of March, hurt by a decline in clothing sales and higher costs from opening new food stores. It also said that it would continue to reduce the number of promotions and clearance sales and maintain its strong focus on food. Pre-tax profit came in at £176.4m for the year, while sales were broadly steady at £10.6bn.
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AutoZone Inc. suffered its biggest-ever stock price plunge Tuesday, with the auto parts and accessories retailer's disappointing results prompting a two-notch downgrade from a longtime bull. The company has now missed profit expectations for just two straight quarters, but same-store sales have missed for five straight quarters and revenue has fallen short for seven straight quarters, according to FactSet. "We believe we have been sufficiently patient with AutoZone, but the poor F3Q17 results can no longer support a strong buy rating."AutoZone's disappointing sales results should not have been such a surprise. AutoZone's disappointing results also weighed heavily on the facebook/" target="_blank">shares of rival Advance Auto Parts Inc., which is scheduled to report first-quarter results before Wednesday's open. The stock AAP, -4.55% slid 4.6%, paring earlier losses of as much as 5.6% to a 6 1/2-month low in intraday trade.
Tiffany affirmed its 2017 outlook for net sales increasing in the low-single-digit percentage range and net EPS rising by a high-single-digit percentage. Worldwide same-store sales fell 3%, missing the FactSet consensus of 1.6% growth. The FactSet consensus for earnings per share was 70 cents. Tiffany & Co. TIF, -0.57% reported a fiscal first-quarter net profit that rose to $92.9 million, or 74 cents a share, from $87.5 million, or 69 cents a share, in the same period a year ago. The high-end jewelry retailer said evenue increased to $899.6 million from $891.3 million, but was below the FactSet consensus of $914.7 million, as weaker-than-expected sales in the Americas and Europe offset a bigger-than-expected rise in Asia-Pacific.
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AutoZone's stock suffers record price plunge after profit and sales miss
AutoZone Inc. suffered its biggest-ever stock price plunge Tuesday, with the auto parts and accessories retailer's disappointing results prompting a two-notch downgrade from a longtime bull. The company has now missed profit expectations for just two straight quarters, but same-store sales have missed for five straight quarters and revenue has fallen short for seven straight quarters, according to FactSet. "We believe we have been sufficiently patient with AutoZone, but the poor F3Q17 results can no longer support a strong buy rating."AutoZone's disappointing sales results should not have been such a surprise. AutoZone's disappointing results also weighed heavily on the facebook/" target="_blank">shares of rival Advance Auto Parts Inc., which is scheduled to report first-quarter results before Wednesday's open. The stock AAP, -4.55% slid 4.6%, paring earlier losses of as much as 5.6% to a 6 1/2-month low in intraday trade.
Tiffany affirmed its 2017 outlook for net sales increasing in the low-single-digit percentage range and net EPS rising by a high-single-digit percentage. Worldwide same-store sales fell 3%, missing the FactSet consensus of 1.6% growth. The FactSet consensus for earnings per share was 70 cents. Tiffany & Co. TIF, -0.57% reported a fiscal first-quarter net profit that rose to $92.9 million, or 74 cents a share, from $87.5 million, or 69 cents a share, in the same period a year ago. The high-end jewelry retailer said evenue increased to $899.6 million from $891.3 million, but was below the FactSet consensus of $914.7 million, as weaker-than-expected sales in the Americas and Europe offset a bigger-than-expected rise in Asia-Pacific.
read more visit us profit
collected by :Jack Luxor
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