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Altria earns miss in 4Q despite strong cigarette sales
WASHINGTON (AP) — Marlboro sales fueled an uptick in revenue at Altria, though the tobacco giant was weighed down by charges across its sprawling business which includes beer, wine and e-cigarettes. Cigarette sales have held up better during the pandemic than other types of consumer products, and overall...
Strong US sales give McDonald's a boost in Q4
McDonald's ended 2020 on a strong note, recovering nearly all of the global sales lost in the pandemic despite a resurgent virus. But it was costly to get there, and the fast food giant fell short of Wall Street's earnings and sales expectations for the fourth quarter. Revenue fell 2% to $5.3 billion, below...
Starbucks' recovery, solid in China, still slow in the US
Starbucks’ recovery slowed at the end of last year as U.S. coronavirus cases mounted, but the coffee titan says it’s confident its U.S. business will fully recover by March. “I am optimistic, because this year holds tremendous promise for healing," Starbucks CEO Kevin Johnson said in a...
J&J 4Q sales rise despite pandemic, but charges cut profits
A big jump in prescription drug sales boosted fourth-quarter revenue at Johnson & Johnson, despite the coronavirus pandemic cutting into sales of products from contact lenses to surgical equipment and other medical devices used in procedures at hospitals swamped with COVID-19 patients. Profits dove 57% due to...
U.S. retail sales fell in December for 3rd straight month
NEW YORK (AP) — Americans cut back on spending in December for the third-straight month as a surge in virus cases kept people away from stores during the critical holiday shopping season. The U.S. Commerce Department said Friday that retail sales fell a seasonally adjusted 0.7% in December from the month...
Volkswagen sold 9.3 million cars in pandemic year, down 15%
FRANKFURT, Germany (AP) — German automaker Volkswagen said its global sales fell 15.2% during 2020 due to the COVID-19 pandemic but showed significant recovery toward the end of the year. The company more than tripled its sales of battery-only vehicles. Global sales for all of Volkswagen's brands amounted...
China's 2020 auto sales fall for third year amid coronavirus
BEIJING (AP) — China’s sales of SUVs, minivans and sedans fell for a third year in 2020 as the coronavirus hurt already weak demand in the industry’s top global market, an industry group reported Wednesday. Sales declined 6% compared with 2019 to 20.2 million, according to the China...
Tiffany posts holiday sales gain helped by China, online
NEW YORK (AP) — Tiffany & Co. on Tuesday reported a 2% gain in preliminary holiday sales, helped by strong sales in China and online. The New York-based jewelry company said its net sales for the Asia-Pacific region rose 20% for the Nov. 1 through Dec. 31 compared with the same time in 2019. That...
Late sales rebound helps US automakers avoid 2020 disaster
DETROIT (AP) — Sales of new vehicles in the U.S. fell 14.6% last year, but a second-half rebound from a coronavirus-related plunge in the spring kindled optimism for a recovery later this year. Automakers on Tuesday reported selling 14.57 million new vehicles for the year, a far cry from the five previous...
US factories grew in December at fastest pace since mid-2018
WASHINGTON (AP) — American factories grew in December at the fastest pace in more than two years as manufacturing continued to weather the pandemic better than the battered services sector. The Institute for Supply Management reported Tuesday that its gauge of manufacturing activity rose to 60.7% last...
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