JVC slashes forecast on sluggish sales
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Japanese electronics maker JVC has slashed its forecasts for this year, predicting it would only just break even due to sluggish sales of its high-end televisions and software.
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Slashed earnings estimate pulls down shares.
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US department store JC Penney  sees profits fall and predicts a slower first three months of 2007 than had been expected.
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Shares of Cisco Systems fell sharply Wednesday after the company&#39;s chief executive, John Chambers, said sales growth would slow this quarter and that it was too early to say whether customers were more optimistic about the economy.
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Shares of Sharper Image Corp. SHRP.O  fell 14.7 percent before the bell on Monday after specialty  retailer lowered its earnings estimates after reporting  weaker-than-expected holiday sales.
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WASHINGTON -- Retail sales, hurt by a big drop in auto purchases, slowed in January to the weakest performance in three months.
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Retail sales, hurt by a big drop in auto purchases, slowed in January to the weakest performance in three months.
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The maker of home-improvement products gave a first-quarter outlook that was lower than Wall Street forecasts, citing the sluggish U.S. housing market.
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The company, whose shares fell more than 13 percent, said it was analyzing sales expectations for the next fiscal year, given uncertain consumer spending.
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Texas Pacific Group  and Cerberus   have submitted bids for control of struggling consumer  electronics firm JVC (6792.T), sources familiar with the matter  said on Monday.
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From department stores to discounters, the nation&#39;s retailers reported sluggish August sales yesterday as consumers cut back spending during the generally lucrative back-to-school shopping month.
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The warehouse club operator warned of lower quarterly profit as customers cut back on large purchases like furniture.
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Retail sales slowed last month, official data showed Thursday, as the country&#39;s wettest June on record kept consumers away from the highstreet.
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Software maker meets earnings projects but applications business languishes with unit's sales down 36 percent.
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J&J gets dragged down by restructuring charges.
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Sales were lower than expected, and the quality of earnings is in question.
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J. C. Penney reported better-than-expected fourth-quarter earnings but its shares fell sharply after it forecast first-quarter profit below Wall Street estimates.