News Formal

Bulging warehouses mean lean times for longer for US, European companies

  • 📰 rapplerdotcom
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 86%

Ireland News News

Retailers particularly have struggled with stocks of clothing and footwear as consumers splurge on holidays rather than goods as they did during pandemic lockdowns.

. Refinitiv data shows US and European companies are expected to report their worst quarterly results in years.Companies which stockpiled last year are finding it harder to shed inventories when higher borrowing costs and inflation crimp consumer demand, corporate executives and analysts said.

For London-listed Coats Group, which makes thread and yarn, things are improving, but the destocking has been deeper and lasted longer than usual. “Excess savings that consumers have built since the pandemic began are draining, and we think all of these excess savings could be depleted by year-end or early next year.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

EU opens probe into $20-B Adobe mergerLONDON, United Kingdom -The European Commission, acting in its role as the EU competition regulator, opened an investigation Monday into US software firm Adobe&039;s planned $20-billion takeover of
Source: inquirerdotnet - 🏆 3. / 86 Read more »