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Cash-strapped South African Airways expands Emirates code sharing

“JOHANNESBURG (Reuters) – South African Airways (SAA) said on Tuesday that it had signed a deal with Emirates [EMIRA.UL] to expand an existing codeshare agreement, in a rare bright spot for the cash-strapped airline” writes Midwest Communications Inc for 95kqds.com. The state-owned carrier, which has not made a profit since 2011 and survives on government handouts, said the agreement would see the two airlines leverage each other’s route networks, cargo services and flight schedules to boost passenger flows.South African President Cyril Ramaphosa has been at pains to stabilize ailing firms…

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Costs for early retirement of workers to slash Bezeq’s 2018 profit

“In total these expenses are expected to reduce 2018 net profit by 464 million shekels, Bezeq said” writes Midwest Communications Inc for 95kqds.com. The expense would be in addition to 90 million shekels set aside in the first and second quarters of 2018 for early retirement, Israel’s largest telecoms group said in a statement.”Today’s early retirement falls within the existing agreements with the trade unions and we believe that the company will be able to negotiate additional cuts with the unions.”. TEL AVIV (Reuters) – Bezeq Israel Telecom said on…

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FTSE 100 down, as retail sector shaken by ASOS profit warning

“Retail gloom hit London markets on Monday, after online retailing giant ASOS PLC cut its full-year outlook, sending its rivals into the red” writes Emily Horton for marketwatch.com. On the heels of a slump for ASOS, shares in its major competitors also felt the heat.Boohoo Group PLC BOO, -10.77%  dropped by 9.5% and Quiz PLC QUIZ, -12.59%  shares were down 15%.Shares of U.K. fashion retailers were down Monday morning after ASOS ASC, -38.91%   warned of difficult November trading and cut its full-year outlook. Source: marketwatch.com Share This:

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North America to weigh on Under Armour’s 2019 revenue growth, shares slide

“The Hovr smart-shoe maker said it expected to return to a low double-digit revenue growth by 2023” writes Midwest Communications Inc for 95kqds.com. (Reuters) – Sportswear maker Under Armour Inc on Wednesday forecast 2019 revenue growth and profit below Wall Street estimates on expectations of flat sales in North America, triggering a 11 percent drop in its shares. “It is clear (Under Armour) is no longer the growth company it was years ago,” Lyon said.The company’s forecast indicates that a turnaround is still far away, B Riley’s Susan Anderson said.Analysts…

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Next worry: Shrinking profits…

“Some strategists did cite reduced profit growth forecasts as one of the reasons stocks sold off recently” writes Min Read for reuters.com. Wall Street analysts have slammed the brakes on estimates for profit growth for S&P 500 companies, which had accelerated for much of the year.He said analysts also tend to overestimate long-range profit growth, so investors should not be surprised by reduced forecasts.Corporate earnings forecasts are eroding as the tailwind from the tax cut fades and as investors worry the U.S.-China trade dispute could upend global commerce more than…

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Lands’ End profit and revenue rise, as same-store sales jump nearly 12%

“Direct segment revenue rose 8.1% to $313.8 million, while retail segment revenue fell 21% to $27.8 million, as a result of the reduction in Lands’ End Shops at Sears locations” writes Reporter Editor for marketwatch.com. The casual clothing seller said revenue for the quarter to Nov. 2 grew 4.9% to $341.6 million, above the two-analyst estimate of $328.5 million.The average earnings-per-share estimate of the two analysts surveyed by FactSet was 10 cents. Source: marketwatch.com Share This:

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Yum Brands sees 2-3 percent same-store sales growth in 2019

“A customer walks out of a KFC restaurant in Shanghai Thomson Reuters (Reuters) – Yum Brands Inc on Wednesday said it expects same-store sales growth in the range of 2 percent to 3 percent for fiscal 2019, betting on strong sales at its KFC and Taco Bell chains” reports businessinsider.com. The Louisville, Kentucky-based company also forecast full-year system sales growth in the mid-to-high single digit range, adding that it was on track to deliver profit of $3.75 per share in 2019. Analysts on average are expecting same-store sales growth of…

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Thomas Cook CDS hits record high on growing debt worries; shares sink

“LONDON (Reuters) – The cost of insuring debt issued by Thomas Cook against default hit a record high and its corporate debt tumbled on Tuesday as worries about the travel operator’s debt deepened following its second profit warning in as many months last week” reports businessinsider.com. The company’s five-year credit default swap jumped 73 basis points from Monday’s close to 1,071 basis points, IHS Markit data showed.Shares in the oldest travel company in the world have lost 60 percent of their value in the past week after the holiday operator…

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HD Supply beats profit and sales expectations, lifts outlook

“HDS, -0.75% reported Tuesday fiscal third-quarter earnings and revenue that beat expectations, and raised its full-year guidance” writes Reporter Editor for marketwatch.com. Separately, the company set a new $500 million stock buyback program on Nov. 30.Sales rose 17.7% to $1.61 billion, topping the FactSet consensus of $1.59 billion, as 7.4% growth in facilities maintenance sales to $810 million beat expectations of $799 million and the 30% increase in construction and industrial sales to $803 million exceeded expectations of $798 million.For fiscal 2018, the company raised its sales guidance range to…

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