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FINLAND: Marimekko H1 loss lowered on cost cuts
2014-08-15 15:10:00| Daily apparel & textile news and comment - from just-style.com
Finnish fashion and textile business Marimekko Group reduced its first-half net loss by half thanks to reorganisation and cost reductions in Finland and the US.
Cisco makes 6,000 more job cuts
2014-08-14 11:12:48| BBC News | Business | UK Edition
Network equipment giant Cisco Systems announces plans to cut 6,000 more jobs - its third jobs cull in three years.
Cisco plans more job cuts as quarterly sales flat
2014-08-14 08:44:00| Telecompaper Headlines
(Telecompaper) Cisco reported revenue of USD 12.4 billion for its fiscal fourth quarter to July, down 0.5 percent from a year earlier. The gross margin rose to 59.9 percent from 59.2 percent a year ago, while the operating margin fell to 21.7 percent from 22.7. Net profit dropped 1.0 percent over the same period to USD 2.2 billion. Cisco said the operating environment remained "tough" but the company's book-to-bill ratio was "comfortably over 1" in the quarter. Cisco spent in total USD 13.3 billion in the past fiscal year on share repurchases and dividends and finished the year with total cash of USD 52.1 billion. While the company's headcount rose by around 1,000 last year to 74,000, Cisco announced another round of job cuts. It will eliminate around 6,000 positions at a restructuring cost of USD 700 million. Cisco CEO John Chambers told the Wall Street Journal that the job cuts are designed to make room for adding different kinds of skills, rather than lowering costs. He does not expect the total headcount to change over the current fiscal year, as staff are added in areas such as data centres, security and cloud offerings.
Macy's cuts its sales forecasts
2014-08-13 17:35:00| BBC News | Business | UK Edition
US department store chain Macy's cuts its full-year sales forecasts to make up for first-quarter losses, when bad weather kept shoppers away.
Tags: sales
cuts
forecasts
macys
US: Macy's cuts FY sales forecast amid tough headwinds
2014-08-13 16:42:17| Daily apparel & textile news and comment - from just-style.com
Despite booking a 3.3% rise in second-quarter sales, department store retailer Macy's Inc today (13 August) lowered its full-year sales outlook, saying it was unable to make up the shortfall incurred during the first quarter when snowy weather kept shoppers away from its stores.
Tags: sales
tough
cuts
forecast
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