#levistrauss profit hit by cotton, discounts. how long will this story play?
(Reuters) – Cosmetics company Estee Lauder Cos Inc (EL.N: Quote, Profile, Research, Stock Buzz) forecast quarterly earnings far below Wall Street estimates, saying it suffered because of foreign exchange rates and would increase investments in advertising, and its shares more than 6 percent.
This would be the first profit miss in more than a year for the company, whose full-year outlook also fell short of analysts’ expectations.
By Nivedita Bhattacharjee
(Reuters) – Royal Caribbean Cruises Ltd (RCL.N: Quote, Profile, Research) (RCL.OL: Quote, Profile, Research), the world’s second-largest cruise operator, warned that earnings in the current quarter could fall by as much as 50 percent as the Costa Concordia disaster off the coast of Italy caused a sharp drop-off in new cruise bookings.
Feb 2 (Reuters) – Royal Caribbean Cruises Ltd
(RCL.N: Quote, Profile, Research) (RCL.OL: Quote, Profile, Research), the world’s second largest cruise operator,
forecast a weak first quarter and said new bookings had been
affected as a result of a rival’s ship capsizing in January.
“There has been no material change in cancellation
activity… However, new booking activity has been hurt,” the
company said in a statement.
(Reuters) – Carnival Corp (CCL.N: Quote, Profile, Research, Stock Buzz) (CCL.L: Quote, Profile, Research, Stock Buzz) said the Costa Concordia cruise ship catastrophe would wipe up to $175 million from its profits this year and warned of possible additional impact later on.
Carnival’s cruise ship Costa Concordia capsized off the coast of Italy earlier this month, killing at least 17 people. Fifteen people are still missing. The wreck is expected to lie near the Italian island of Giglio until the end of the year or longer before it can be broken up or salvaged.