Business news

Costume stores face a hellish Halloween as sales drop

Cash registers are usually ringing in the Disguises costume store as Halloween approaches, but this year attendance is so below normal that its owner, Todd Belanger, is too scared to even look at the sales numbers. He considers the Denver suburban store a cavernous mall which stocks thousands of wigs, masks and costumes, does about… Continue reading Costume stores face a hellish Halloween as sales drop

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Google ad sales bounce back sharply from pandemic slump

Google’s advertising business staged a stronger than expected rebound from its coronavirus slump in the latest quarter, boosting revenue and earnings of parent Alphabet above most analysts’ expectations and sending the shares 9 per cent higher in after-market trading. Coming just days after the search group was hit with a landmark antitrust lawsuit from the… Continue reading Google ad sales bounce back sharply from pandemic slump

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New customers boost eBay and Etsy sales

Etsy and eBay have recorded another quarter of boosted revenues and user growth, as they continue to benefit from a pandemic ecommerce boom that is expected to grow the sector by about a third this year to levels not expected before at least 2022. The strong results so far have allayed some investor concerns that… Continue reading New customers boost eBay and Etsy sales

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US allows sales of chips to Huawei’s non-5G businesses

The US is allowing a growing number of chip companies to supply Huawei with components as long as these are not used for its 5G business, people briefed by Washington said, in a potential lifeline for the Chinese group. Analysts believe this could mean that tough US sanctions this year against China’s leading technology group… Continue reading US allows sales of chips to Huawei’s non-5G businesses

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Coronavirus latest: Gilead scores $900m sales bump from its Covid drug in third quarter

Illinois reported its second-biggest one-day jump in coronavirus infections on Wednesday. A further 6,110 people tested positive over 24 hours, up from 4,000 on Tuesday. French President Emmanuel Macron has announced a one-month nationwide lockdown to try to curb a rapid rise in infections that threatens to overwhelm intensive care units. The county of Nottinghamshire… Continue reading Coronavirus latest: Gilead scores $900m sales bump from its Covid drug in third quarter

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Sony sets 100m sales target for new PlayStation 5 console

Sony has laid out an ambitious target to sell more than 100m units of its new PlayStation 5 console as it bets that a gaming boom due to the Covid-19 pandemic will continue to fuel the $145bn industry.  The Japanese entertainment group announced the sales goal on Wednesday as it raised its annual profit guidance… Continue reading Sony sets 100m sales target for new PlayStation 5 console

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Next raises profit forecast again as sales beat expectations

UK fashion chain Next has upgraded its full-year profit forecast for the third time this year after sales grew more than expected in the third quarter. The group said it now expected pre-tax profit to be about £365m, up from the £300m forecast at the time of its half-year results in September and ahead of… Continue reading Next raises profit forecast again as sales beat expectations

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Economic Report: New home sales dip slightly in September, but remain strong going into fall

The numbers: Sales of new single-family homes fell in September, but the housing market remains poised to buck seasonal trends nonetheless. New home sales occurred at a seasonally-adjusted, annual rate of 959,000, the Census Bureau reported Monday. That represents a 3.5% drop from an downwardly-revised pace of 994,000 homes in August. Compared with last year,… Continue reading Economic Report: New home sales dip slightly in September, but remain strong going into fall

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City Bulletin: The Hut Group raises sales forecast in maiden trading update

The Hut Group, one of the very few large companies to float on the London Stock Exchange this year, has lifted its sales guidance in its first trading update since the IPO. At the time of its listing in September, the health, beauty and nutrition retailer said it expected to report full-year revenues of £1.4bn,… Continue reading City Bulletin: The Hut Group raises sales forecast in maiden trading update

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Hut upgrades full-year sales forecast

The Hut Group said it expected full-year revenue to be higher than previously expected, in its first comments on trading since its £5.4bn IPO in September. Sales are forecast at £1.48bn-£1.52bn, up about a third from last year and above previous guidance of £1.43bn. For the three months to September 30, group sales were up… Continue reading Hut upgrades full-year sales forecast