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Search resuls for: "Anne Florentyna Gnanaraja Sekar"


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☆ Norwegian Cruise lifts profit forecast on higher ticket prices, steady demand
  + stars: | 2023-05-01 | by ( Ananya Mariam Rajesh Anne Florentyna Gnanaraja Sekar | Ananya Mariam Rajesh | Anne Florentyna Gnanaraja Sekar | ) www.reuters.com   time to read: +2 min
loss per share of 30 cents vs loss est. of 41 centsCompany says it sees "strong consumer demand"May 1(Reuters) - Norwegian Cruise Line Holdings Ltd (NCLH.N) raised its annual profit forecast and sailed past first-quarter estimates on Monday, betting on higher ticket pricing, pent-up demand and robust on-board spending from wealthy customers. Norwegian, which mostly caters to the affluent, has also been raising prices of its tickets to offset the impact from higher costs of fuel and food due to supply chain snags worsened by the Russia-Ukraine crisis. The company expects 2023 adjusted profit of 75 cents per share, compared with its earlier forecast of about 70 cents per share. Shares in the company were up about 1% in premarket trade, paring some gains after it forecast second-quarter adjusted earnings per share below estimates.
☆ Colgate-Palmolive raises annual organic sales forecast on price hikes
  + stars: | 2023-04-28 | by ( ) www.reuters.com   time to read: +2 min
April 28 (Reuters) - Colgate-Palmolive Co (CL.N) raised its full-year organic sales forecast on Friday, betting on consistent price hikes and steady demand for its pet nutrition products. The company now expects full-year organic sales growth of 4% to 6%, compared with its prior expectations of 3% to 5% range. Peer Kimberly-Clark Corp (KMB.N) also raised its full-year profit forecast on Tuesday, helped by consistent price hikes. While that pulled down its total organic volumes by 2%, this was more than offset by a 12% increase in prices. Colgate-Palmolive's revenue rose over 8% to $4.77 billion in the quarter ended March 31, beating analysts' average estimate of $4.58 billion, according to Refinitiv data.
☆ Gap to lay off about 1,800 employees in second round of job cuts
  + stars: | 2023-04-27 | by ( ) www.reuters.com   time to read: +2 min
April 27 (Reuters) - Gap Inc (GPS.N) said on Thursday it would cut about 1,800 jobs in a second round of layoffs, joining a set of big U.S. companies that are downsizing in earnest as high inflation eats into consumer wallets. In September, Gap eliminated about 500 corporate workers across a range of departments as it struggled to protect margins and battled weak sales. As of Jan. 28, the apparel chain had about 95,000 employees, according to a regulatory filing. The Wall Street Journal first reported on the new round of job cuts earlier this week. Reporting by Anne Florentyna Gnanaraja Sekar and Ananya Mariam Rajesh in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.
☆ Conagra lifts profit forecast as price hikes offset demand pressures
  + stars: | 2023-04-05 | by ( ) www.reuters.com   time to read: +2 min
These price increases have boosted profits at Conagra, which is now also benefiting from easing inflation in commodity prices including those of meat and other proteins. However, higher grocery and food prices have forced some consumers to trade down from branded packaged food products to cheaper, private-label alternatives, denting sales volumes at Conagra. That prompted the company to trim the top end of its annual organic net sales forecast to a 7% to 7.5% rise, compared with a 7% to 8% growth estimated earlier. Credit Suisse analysts have also warned that Conagra sales could decelerate faster compared to its peers in full-year 2024, owing to the company's exposure to price-sensitive, lower-income consumers. Conagra said it expected fiscal 2023 adjusted per-share profit between $2.70 and $2.75, compared with its prior forecast of $2.60 to $2.70.
☆ Dollarama beats sales estimates on strong demand for affordable goods
  + stars: | 2023-03-29 | by ( ) www.reuters.com   time to read: 1 min
March 29 (Reuters) - Canada's Dollarama Inc (DOL.TO) beat quarterly revenue expectations on Wednesday helped by strong demand for affordable everyday goods and seasonal products such as home decor items during the holiday season. The company's fourth-quarter revenue rose to C$1.47 billion ($1.08 billion), from C$1.22 billion a year earlier, beating expectations of C$1.39 billion, according to Refinitiv IBES data. ($1 = 1.3594 Canadian dollars)Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
☆ Brown-Forman misses quarterly profit estimates as costs weigh
  + stars: | 2023-03-08 | by ( ) www.reuters.com   time to read: +1 min
March 8 (Reuters) - Brown-Forman Corp (BFb.N) missed Wall Street expectations for third-quarter profit on Wednesday, as the Jack Daniel's whiskey maker struggled to keep a tight lid on costs. Spirit makers such as Brown-Forman have had to raise prices to shield their margins from soaring transportation and input costs. The company's selling, general and administrative expenses rose 14% to $186 million in the quarter. On an adjusted basis, the company earned 25 cents per share, missing analysts' average estimate of 47 cents, according to Refinitiv data. The Louisville, Kentucky-based company's quarterly revenue rose 4.2% to $1.08 billion, edging past analysts' expectations of $1.01 billion.
☆ Macy's forecasts upbeat annual profit, shares surge
  + stars: | 2023-03-02 | by ( ) www.reuters.com   time to read: +1 min
March 2 (Reuters) - Macy's Inc (M.N) forecast full-year profit largely above Wall Street estimates on Thursday, as the department store operator looks to cut back on promotions to protect its margins. The company said it expects adjusted full-year profit per share between $3.67 and $4.11, while analysts on an average had estimated $3.84, according to IBES data from Refinitiv. Macy's sees 2023 sales between $23.7 billion and $24.2 billion, compared to estimates of $24.29 billion. Consumers at the higher end of the income rung have shrugged off a hit to savings from stubbornly high inflation, helping boost sales at department stores like Macy's that mostly offer luxury and discretionary items. However, peer Kohl's Corp (KSS.N), which caters more to inflation-hit lower-income customers posted a surprise quarterly loss and forecast full-year profit well below estimates as deep discounts to boost demand shredded the retailer's margins.
☆ Michael Kors owner Capri cuts forecasts as demand slows, shares plunge 24%
  + stars: | 2023-02-08 | by ( Uday Sampath Kumar | ) www.reuters.com   time to read: +2 min
Feb 8(Reuters) - Michael Kors owner Capri Holdings Ltd (CPRI.N) on Wednesday cut its annual profit forecast and provided a dour outlook for 2024, blaming a slowdown in demand from department stores for its luxury handbags and apparel and sending its shares tumbling 24%. Capri said third-quarter sales fell 6%, driven by a 20% fall in revenue from its wholesale channel, which includes department stores and other retailers. Revenue for Michael Kors, Capri's biggest brand, fell 4.5% to $777 million in the Americas during the third quarter. Capri, which also owns Jimmy Choo and Versace, cut its annual sales forecast to $5.56 billion, from $5.70 billion. Analysts expect earnings per share of $7.24 on revenue of $6.03 billion.
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