Movado Group Profit Falls In Q4
Movado Group (MOV) revealed earnings for fourth quarter that decreased from last year
The company’s bottom line came in at $22.726 million, or $1 per share. This compares with $31.375 million, or $1.33 per share, in last year’s fourth quarter.
Excluding items, Movado Group reported adjusted earnings of $23.288 million or $1.03 per share for the period.
The company’s revenue for the quarter fell 5.7% to $194.273 million from $205.975 million last year.
Movado Group earnings at a glance (GAAP) :
-Earnings (Q4): $22.726 Mln. vs. $31.375 Mln. last year.
-EPS (Q4): $1 vs. $1.33 last year.
-Revenue (Q4): $194.273 Mln vs. $205.975 Mln last year.
Aunt Millie's Our Family White Hot Dog Buns Recalled
Fort Wayne, Indiana-based Perfection Bakeries D/B/A Aunt Millie’s is recalling 8 ct. packages of Our Family White Hot Dog Buns citing the possible presence of undeclared sesame, a known allergen, the U.S. Food and Drug Administration said.
The product comes in a printed plastic package marked with “Our Family Hot Dog Buns 8 ct.” on the top and has a blue twist tie. The product UPC is 0-70253-75107-3, and include Best By Dates 4-9-2023 and earlier.
The recalled “Our Family Hot Dog Buns 8 ct.” were distributed in retail stores in Michigan, Ohio, Indiana, and Illinois.
The recall was initiated after it was discovered the sesame-containing product was distributed in packaging that did not reveal the presence of sesame.
People who have an allergy or severe sensitivity to sesame may get serious or life- threatening allergic reaction if they consume these products.
The company has received a report of one reaction in connection with the recall to date.
Aunt Millie’s has suspended the production of the product until the company and the FDA complete their investigation.
Consumers who have purchased “Our Family Hot Dog Buns 8 ct.” are urged to return them to the place of purchase for a full refund.
For More Such Health News, visit rttnews.com
Darden Restaurants Inc. Reveals Climb In Q3 Bottom Line, Beats estimates
Darden Restaurants Inc. (DRI) reported earnings for its third quarter that increased from the same period last year and beat the Street estimates.
The company’s earnings totaled $286.6 million, or $2.34 per share. This compares with $247.0 million, or $1.93 per share, in last year’s third quarter.
Analysts on average had expected the company to earn $2.25 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 13.9% to $2.79 billion from $2.45 billion last year.
Darden Restaurants Inc. earnings at a glance (GAAP) :
-Earnings (Q3): $286.6 Mln. vs. $247.0 Mln. last year.
-EPS (Q3): $2.34 vs. $1.93 last year.
-Analyst Estimate: $2.25
-Revenue (Q3): $2.79 Bln vs. $2.45 Bln last year.
Full year EPS guidance: $7.85 to $8.00
Full year revenue guidance: $10.45 to $10.5 Bln
Genuine Parts Reaffirms 2023 Guidance; Provides Three-Year Outlook
Genuine Parts Company (GPC) said, for the year ending December 31, 2023, it continues to expect: adjusted earnings per share of $8.80 to $8.95; and total sales growth of 4% to 6%.
For the year ending December 31, 2025, the company expects: earnings per share in a range of $11.00 to $11.50; and total sales of $26.5 billion to $27.0 billion.
For the 3-year period ending December 31, 2025, the company anticipates: compounded annual EPS CAGR of 10.0% to 11.0%; and compounded annual sales growth of 6.0% to 7.0%.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
Yorkshire Building Society increases interest rates for savers
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
Yorkshire Building Society has announced it will automatically add 0.25 percent to its variable rate savings accounts following the Bank of England base rate increase today. The minimum interest rate paid on instant access accounts will be raised to 2.80 percent and those with restricted access will rise to a minimum of three percent.
On sale accounts will also rise to a minimum of 2.80 percent.
All qualifying accounts will be updated automatically with the changes coming into force from April 5, without customers having to do anything.
Gold Futures Surging Higher On Safe-haven Buying
Gold prices are notably higher Thursday morning on safe-haven buying as global equities turned weak after the Fed raised rates and signaled further tightening.
US Treasury Secretary Janet Yellen’s comments that the regulators are not planning to provide “blanket insurance” to bank deposits raised concerns about growth and significantly weigh on the financial markets.
The dollar is recovering from early weakness, but still remains somewhat subdued. The dollar index
Gold futures for April are up $31.00 or about 1.6% at $1,980.60 an ounce.
Silver futures are gaining $0.264 or 1.16% at $23.050 an ounce, while Copper futures for May are down $0.0110 or 0.27% at $4.0335 per pound.
The Bank of England, scheduled to announce its monetary policy in a little while now, is expected to tighten policy further after a hotter-than-expected inflation print for the UK. The bank is widely expected to raise rates by 50 basis points.