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Guess?, Inc. GES is in solid shape, courtesy of its impressive digital operations and other strategic growth endeavors. Notably, this Zacks Rank #1 (Strong Buy) stock has surged 53.9% in the past three months compared with the industry’s growth of 24.3%. Moreover, the stock has comfortably outperformed the Zacks Consumer Discretionary sector’s increase of 12% during the same period.
Let’s dive deeper.
E-commerce Business: A Key Driver
Guess? is benefitting from its solid digital efforts. In fact, the company’s online business remained operational amid the coronavirus-induced store closures. Notably, Guess?’s e-commerce business in North America and Europe increased 9% year over year in the second quarter of fiscal 2021. In its last earnings call, management notified that is optimistic about its online growth in the remaining half of 2020. In this regard, the company is increasing its marketing investment, repositioning product offerings and finishing the implementation of Salesforce platform.
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ThinkstockA new earnings reporting season kicks off this week, with the big banks and a few other companies leading the way. Although coronavirus concerns have been minimized as the broad markets have stabilized, there still will be an impact on these reports.
Banks will be central in leading the economic recovery, through small business lending, among other things. The numbers that these institutions post will be an important barometer for what comes next.
24/7 Wall St. has put together a preview of some of the major companies kicking off the new earnings reporting season.
Citigroup Inc. (NYSE: C) is expected to reveal its third-quarter results on Tuesday before the open. The consensus estimates call for $0.90 in earnings per share (EPS), as well as $17.17 billion in revenue. Citigroup stock recently has been trading near $45 a share. The consensus price target is $65.36. The stock has a 52-week
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The coronavirus pandemic has taken a heavy toll on the management-consulting industry.
© Samantha Lee/Business Insider
The coronavirus pandemic has taken a heavy toll on the management-consulting industry. Samantha Lee/Business Insider
The market for consultants has declined this year to an estimated $132 billion from $160 billion because of decreased client demand, according to research platform Statista. The crisis put a strain on corporate budgets, forcing some to cancel or pause projects with major clients. Giant advisory firms including KPMG and Accenture have laid off thousands of workers, and some consultancies like Ernst & Young have deferred promotions and performance bonuses for employees.
COVID-19 forced leading consultancies to cut travel budgets, shut down offices, and collaborate remotely with clients and colleagues.
The novel coronavirus has fundamentally changed the way consultants do business. Business Insider reviewed research and spoke with prominent leaders at major consultancies like PwC, KPMG, and
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The administration of President Donald Trump on Tuesday moved to impose major new limits on use of the controversial H-1B visa, intended for jobs requiring specialized skills and widely used by Silicon Valley technology firms.
The new rules are expected to reduce the pool of skilled labor and raise costs for tech companies and other employers. Critics say that could force companies to move some operations outside the U.S.
The push to limit foreign workers comes one month before the election and as the nation still reels from the coronavirus pandemic. Employment levels are 10.7 million jobs down from February, before the virus hit and many businesses were closed.
Department of Homeland Security acting deputy secretary Ken Cuccinelli said a third of applicants would be denied under the new rules.
The changes are expected to have a significant effect on the tech industry in the Bay Area, where federal government