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Sony cuts outlook again for smartphone business
2015-07-30 09:31:00| Telecompaper Headlines
(Telecompaper) Sony reported revenues for its fiscal first quarter to June down 0.1 percent from a year earlier to JPY 1.808 trillion. On a constant currency basis, revenues fell 7 percent, due to lower sales of smartphones and TVs, offset by growth in its cameras, gaming and components. Operating profit jumped 39 percent to JPY 96.9 billion, and net profit more than tripled, to JPY 82.4 billion from JPY 26.8 billion a year ago. Profits were helped by a number of one-time gains, including on the acquisition of the music group The Orchard and a logistics joint venture. At the mobile business, revenues fell 16.3 percent to JPY 280.5 billion, and the operating loss swelled to JPY 22.9 billion from JPY 1.9 billion a year ago. Sony sold 7.2 million smartphones in the quarter, down from 9.4 million a year earlier and 7.9 million in the previous quarter. Sony attributed the fall to a strategic decision to focus on profitability over volume. The drop in sales is expected to continue, with the annual forecast cut to 27 million smartphones sold from an estimate in April of 30 million. The revenue forecast for mobile was cut to JPY 1.190 billion, and the operating loss in 2015 is now expected to be bigger, at around JPY 60 billion. The downgrade at mobile was offset by an upgrade in the outlook for the gaming and camera divisions, allowing Sony to maintain its group outlook for slightly lower revenues and a strong improvement in operating profit over the fiscal year.
Tags: business
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Whole Foods Cuts Outlook After 3Q Sales, Profit Miss
2015-07-30 00:10:18| Grocery - Topix.net
Whole Foods cut its sales forecast for the year after its quarterly profit and sales fell short of expectations amid intensifying competition. The retailer noted that sales growth slowed in the last two weeks of the period, when New York City officials said the chain's stores were overcharging customers by overstating the weight of pre-packed goods.
Tags: sales
miss
profit
outlook
Whole Foods cuts outlook after 3Q sales, profit miss
2015-07-30 00:10:16| Grocery - Topix.net
" Whole Foods cut its sales forecast for the year after its quarterly profit and sales fell short of expectations amid intensifying competition. The retailer noted that sales growth slowed in the last two weeks of the period, when New York City officials said the chain's stores were overcharging customers by overstating the weight of pre-packed goods.
Tags: sales
miss
profit
outlook
S&P cuts UK outlook on EU exit vote
2015-06-12 19:24:52| BBC News | Business | UK Edition
The ratings agency Standard and Poor's cuts its outlook for the UK economy to negative from stable because of a planned referendum on EU membership.
Whirlpool cuts outlook after earnings fall short
2015-04-28 14:31:16| Appliances - Topix.net
Whirlpool Corp. reported a first-quarter profit that missed analysts' estimates and reduced its full-year outlook as adverse currency effects and weaker demand in Brazil cut into sales. The home appliance manufacturer said in February that it expected a higher profit this year as raw material costs fall and as the company begins to reap benefits from last year's acquisitions in Europe and Asia.
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