For the second year in a row, furniture retailer IKEA posted sales less than those of the year before. Sales ticked down 0.3 percent to $51.9 billion when currency differentials were accounted for.
Tag: sales
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GENERAL MILLS CUTS SALES OUTLOOK FOR THE CURRENT YEAR
General Mills, a major supplier of packaged and processed foods, now says its sales will decline by 1.5 to 2 percent in the current fiscal year, compared to its previous forecast of flat to a 1-percent increase.
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LEAN TIMES FOR LUXURY BRANDS
Luxury brands such as Coach, LVMH, and Richemont piled up profits during the COVID War as consumers locked down at home took comfort in treating themselves. Sales in the sector grew by 15 percent in 2022, Bain & Co. reported.
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MORTGAGES IN U.S. HIT HIGHEST LEVEL SINCE THE 2008 FINANCIAL CRISIS
The average mortgage rate on a 30-year fixed mortgage hit 6.7 percent, according to a survey released Thursday by the mortgage giant Freddie Mac. “The uncertainty and volatility in financial markets is heavily impacting mortgage rates,” a statement read. “Our survey indicates that the range of weekly rate quotes for the 30-year fixed-rate mortgage has...