Corporate Finance

Finance Roundup for Executives

Be informed, get involved, and shape the world through finance.
Kerry MarunaFebruary 23, 2016

CFOs of retail companies have fairly tepid views on business prospects for 2016, following a poor year that was capped by disappointing holiday-season sales.

Among 100 retailer finance chiefs polled by BDO, three quarters said they expect sales to increase this year, but on average they pegged the increase at only 3.4%. That’s down from 3.9% in last year’s annual survey of such CFOs by the auditing and advisory firm, and 5.1% the year before that.

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Read: “Retail CFOs on 2016: Down, but Not Out”

Caterpillar is one of the most renowned industrial brands. It makes the kind of heavy machinery — loaders, excavators and off-road trucks — that is used in the construction, mining and transport industries when things need to get dug out or shifted somewhere. But the firm’s latest results, released on January 28, show that it is struggling to shift its own products. “This past year was a difficult one for many of the industries and customers we serve,” it said. Revenues in 2015 were nearly 15% lower than they were in 2014, and 29% below the 2012 peak.

Read: “Manufacturing: A Hard Pounding”

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Manufacturing: A Hard Pounding

A vital chunk of the world economy is beset by weakness.

 

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Retail CFOs on 2016: Down, but Not Out

A poor 2015 and market turbulence dampen their near-term outlook, but long-range planning stays stable.

 

Eurozone Growth Slows for 2nd Straight Month

Markit’s purchasing managers index for February increases the odds that the European Central Bank will impose more stimulus measures in March.

 

Icahn Enterprises Facing Downgrade to Junk

Activist investor Carl Icahn’s holding company has suffered significant losses on its energy investments, imperiling its credit rating.

 

Sysco to Buy U.K.’s Brake Group for $3.1B

The deal will increase Sysco’s presence in European food service distribution but investors are concerned it is paying too much for Brakes.

 

Apple Not Budging in Fight Over Data With FBI

The company says a government panel should review the issues raised by the dispute over access to a terrorist’s iPhone.

 

Activist Fund Seeks Overhaul of Redbox Parent

Engaged Capital accuses the board of Outerwall of “speculative growth strategies, reckless capital allocation and poor corporate governance.”

 

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