The trampoline park industry — once among the fastest-growing franchise businesses in America — can trace its roots to an injury-addled 1960s craze and an extreme sport you’ve never heard of.
Stocks have been powering mostly higher over the last month as companies have widely reported much stronger profits for the summer than analysts expected. Several big retailers joined the parade Wednesday, including Lowe’s, Target and TJX, which runs the T.J. Maxx and Marshalls stores. But the stock market’s reaction wasn’t uniform.
TJX rose 5.8% after reporting stronger revenue and earnings for the latest quarter than expected. Home improvement retailer Lowe’s inched up 0.4% as it raised its revenue forecast for the year following strong third-quarter financial results.fell 4.7% even though it also reported better earnings than expected. The company said it made less profit off each $1 in sales during the quarter, versus a year earlier, as it got squeezed by higher merchandise and supply-chain costs, among other things.
Such pressures — and how much they hit companies’ bottom lines — are under the microscope as relatively high inflation continues to sweep the world. Many companies have warned that their profit margins could suffer due to supply-chain problems and higher costs for such things from workers’ wages and raw materials.last month than in September, contrary to economists’ expectations for growth. That could be an indication that supply shortages and higher costs are slowing the industry.
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Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »