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Chief Financial Officer John Schlotman said he felt the untouched EPS outlook was solid in an environment where Kroger is “making dramatic investments to reshape the future of the company.”. Retail Metrics founder Ken Perkins noted Kroger’s significant runup in the past year, rising sharply to its year high of $32.73 earlier this month. “Investors have likely taken some profits over the past 10 days and particularly in light of this morning’s release,” Perkins wrote in an email, adding that Kroger faces intense competition in an ongoing retail grocery war.
“Management doesn’t seem to be as concerned as investors and is making necessary investments to move the business forward.”, Same-store sales, excluding fuel, rose 1.6 percent in the quarter, Analysts on average had expected a 1.86 percent increase, according to Thomson Reuters I/B/E/S, Kroger said net income jumped 44 percent to $508 million, or 62 cents per share, in the quarter ended Aug, 18, from $353 mens black onyx cufflinks million or 39 cents per share a year earlier, Excluding one-time items, Kroger earned 41 cents per share, Analysts had estimated a profit of 38 cents..
ROME (Reuters) - Unions representing three of Ryanair’s (RYA.I) Italy-based cabin crews said on Thursday they had reached an agreement in principle for a three-year collective labor agreement, according to a statement. Italian cabin crews represented by the Uiltrasporti union have threatened to strike later this month to pressure Europe’s biggest budget airline to accept local contracts. Fit Cisl, Anpac and Anpav unions signed Thursday’s agreement, but Uiltrasporti was not mentioned.
BOSTON (Reuters) - Fidelity Investments is winding down a fund that had more than $3 billion in assets last year, with the Boston-based money manager citing an overlap in holdings of other funds used in its target-date products to explain the rare move, The Fidelity Series 100 Index Fund is one of about 30 funds that make up the mens black onyx cufflinks target-date portfolios in the Fidelity Freedom Funds, It had $3.5 billion in assets late last year, but money managers at Fidelity have been winding down its assets in recent months..
The Fidelity Freedom 2060 Fund, for example, has 9 different funds that hold shares of iPhone maker Apple Inc, including the Series 100 Index Fund, according to Fidelity disclosures. At the end of May, the Series 100 Index Fund’s largest holding was Apple, which accounted for nearly 7 percent of its assets, according to disclosures with the U.S. Securities and Exchange Commission. “The management team felt that the combination of other series funds would achieve the desired portfolio characteristics, and have been reducing exposure to Series 100 Index,” Fidelity spokesman Adam Banker said on Thursday.
WASHINGTON (Reuters) - The U.S, Consumer Financial Protection Bureau has filed suit against Future Income Payments, a Nevada company that offers cash advances in exchange for future pension benefits, which the regulator said are actually exceptionally high-interest loans, In the lawsuit, the CFPB alleged that the company and related entities, all led by Scott Kohn, aggressively marketed services to consumers in need of cash, promising an upfront payment at a mens black onyx cufflinks discount in exchange for upcoming pension payments..
The company told consumers it was a cheaper option to obtain cash than advances through credit card companies, and carried no interest rate. But in reality, the companies were signing consumers up for loans with interest rates of up to 183 percent, the CFPB said. The regulator said the company “lures in vulnerable consumers, including senior citizens, disabled military veterans, and their spouses, who are in need of immediate cash.”. The lawsuit, filed in the U.S. District Court for the Central District of California, claimed the company and related entities misled consumers and failed to disclose certain terms. The regulator is seeking injunctive relief, monetary relief and civil penalties.
CHICAGO (Reuters) - Target Corp said on Thursday that it plans to hire about 120,000 seasonal workers for the holidays, up 20 percent on last year, as the retailer gears up for the busiest time of the year, Target, mens black onyx cufflinks which employs about 350,000 people in 1,839 stores across the United States, said it would also offer extra hours to existing workers, Retailers’ holiday hiring plans often reflect their sales expectations for the most competitive shopping season of the year, which begins a day after Thanksgiving and continues into early January, For many stores, holiday shopping accounts for nearly a third of annual sales..