Australian hardware chain Bunnings expects elevated timber prices to squeeze its margins for up to another year, its managing director said on Thursday, as a boom in home improvement and construction drives a surge in demand.
Brazilian retailer Magazine Luiza SA reported on Thursday a first-quarter recurring net income of 258.6 million reais ($48.72 million), compared to 30.8 million reais a year earlier, as its online sales more than doubled.
Brazilian retailer Magazine Luiza SA reported on Thursday a first-quarter recurring net income of 258.6 million reais ($48.72 million), compared to 30.8 million reais a year earlier, as its online sales more than doubled.
By Reuters Staff
(Adds details on forecast)
May 5 (Reuters) - Canadian retailer Loblaw Cos Ltd beat market estimates for quarterly revenue and profit on Wednesday, as its online sales more than doubled on soaring demand from homebound buyers for groceries and other essentials during the COVID-19 pandemic.
Lockdowns and other virus-related restrictions in Canada, including reduced store capacity, during the first three months of the year pushed consumers to stockpile groceries and other essential items.
Loblaw, one of the biggest retailers in Canada, said that the momentum from the first quarter has continued into the current quarter, adding that it expects to exceed its own full-year profit expectations.
By Reuters Staff
2 Min Read
TOKYO, April 16 (Reuters) - Japanese shares closed slightly higher on Friday as heavyweight chip shares rallied, although concerns around corporate outlook capped the gains.
The Nikkei index ended up 0.14% at 29,683.37, while the broader Topix inched up 0.09% to close at 1,960.87.
Chip-related shares gained after Taiwan Semiconductor Manufacturing Ltd (TSMC), reported a 19.4% rise in first-quarter profit on strong chip demand.
Advantest rose 0.38%, Tokyo Electron gained 0.37% and Renesas Electronic jumped 2.48%.
But, NLI Research Institute’s chief equity strategist Shingo Ide points out that investors are getting cautious about corporate outlook ahead of earnings season starting next week as their expectations were so high.