Business and financial news - CNNMoney.com, CNN: Business
Sun, 06/17/2012 - 7:34pm
World markets started the week higher Monday in an initial positive reaction to Greek elections that put the main pro-bailout party on top.
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Campbell Soup Co. reported stable profit in its latest quarter that topped Wall Street expectations despite declining sales, as the company aggressively cut costs to deal with what it called a tumultuous time in the food industry.
Canadian retail sales rose more than expected in March in dollar terms, led by sales of cars, food and alcohol, but volumes were disappointing.
Ann Inc. reported a weaker-than-expected 1.2% increase in sales in its first quarter as the retailer continues to struggle with weak traffic and competition.
Hibbett Sports said its first-quarter profit fell 3.5% as weak sales in February prompted markdowns and cut into margins.
Foot Locker posted a better-than-expected 14% increase in profit as the sportswear retailer continues to benefit from sales growth.
An American mutual-fund company has become Nintendo’s largest shareholder, placing a growing bet on signs of a revival in the Japanese videogame company’s fortunes.