{"id":3763,"date":"2023-01-18T18:44:29","date_gmt":"2023-01-18T17:44:29","guid":{"rendered":"https:\/\/monocle.lu\/?p=3763"},"modified":"2023-01-26T18:07:07","modified_gmt":"2023-01-26T17:07:07","slug":"il-est-venu-le-temps-des-profit-warning","status":"publish","type":"post","link":"https:\/\/monocle.lu\/en\/2023\/01\/18\/il-est-venu-le-temps-des-profit-warning\/","title":{"rendered":"The Era of Profit Warnings is Upon Us"},"content":{"rendered":"<p><iframe src=\"https:\/\/player.rss.com\/tutovalo\/797093\" style=\"width: 100%\" title=\"Le Billet de Monocle\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><a href=\"https:\/\/rss.com\/podcasts\/tutovalo\/797093\/\">Le Billet de Monocle &#8211; Il est venu le temps des Profit Warning | RSS.com<\/a><\/iframe><\/p>\n<p>We hate to be the bearers of bad news, but the corporate landscape is at odds with the surging markets. This week, we present a concise recap of the latest happenings on the frontlines.<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #ff0000;\"><strong>Banks Struggling to Find Deals<\/strong><\/span><\/p>\n<p>As the quarterly earnings season kicked off, the banking sector found itself navigating a tougher macroeconomic climate. With interest rates on the rise, merger and acquisition activities have come to a screeching halt. As a result, commissions have dwindled, and profit margins have taken a hit.<\/p>\n<p class=\"translation-block\">Let's zoom in on Goldman Sachs. Their revenue contracted by 16%.<\/p>\n<p>However, the blow was even more severe as their net margin plummeted by 66%, amounting to a mere $1.3 billion compared to nearly $4 billion the previous year.<\/p>\n<p>In response, the firm is laying off 3,000 employees and planning to restructure certain divisions. If you happen to be a Goldman employee, brace yourself for a bonus cut of 50% this year.<\/p>\n<p><strong>Morgan Stanley has joined the ranks. Their net income has declined by 40%, and the Investment Banking division's revenue has experienced a 50% slump.<\/strong> suit le mouvement. R\u00e9sultat net en baisse de 40%. Le chiffre d\u2019affaires de la division Banque d\u2019Affaires d\u00e9croche de moiti\u00e9.<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #ff0000;\"><strong>Retail Losing Steam<\/strong><\/span><\/p>\n<p class=\"translation-block\">Lululemon, the yoga leggings specialist, saw its stock decline by 9% last Monday. The sportswear retailer announced a decrease in gross margin for the last quarter.<\/p>\n<p>This was attributed to higher costs and larger discounts offered to clear inventory (which stood at $1.7 billion at the end of October, twice as much as the previous year).<\/p>\n<p class=\"translation-block\">Fnac Darty also issued a warning to its investors on Tuesday evening. December was a challenging month for them, with sales contracting by 5%. The group had initially projected \u20ac500 million in earnings for the 2021-2023 period. Now, they expect to achieve that by 2021-2024, assuming all goes well. The stock took a 7% nosedive yesterday.<\/p>\n<p>To make matters worse, the company's executives chose to remain tight-lipped about January's performance\u2014an ominous sign.<\/p>\n<p>Yesterday's release of US retail sales data further confirms the downtrend: a decline of 1.1% in December, surpassing economists' expectations of a milder decline (-0.9%).<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #ff0000;\"><strong>A Plethora of Profit Warnings<\/strong><\/span><\/p>\n<p class=\"translation-block\">French video game developer Ubisoft saw a 14% drop in its stock last Thursday after announcing that \"holiday season trends, especially during the last weeks of December and early January, were significantly and surprisingly slower than expected.\"<\/p>\n<p class=\"translation-block\">Meanwhile, Covestro, the German expert in chemistry and materials, also issued a Profit Warning on Friday evening. The company candidly expressed how they have been \"undeniably affected by the sharp rise in energy and raw material costs, as well as the weakening global economy.\"<\/p>\n<p class=\"translation-block\">That's it for today. However, please bear in mind that we approach quarterly results with utmost caution. Therefore, we will be diligently monitoring Netflix's earnings, as they anticipate an additional 4.5 million subscribers for the quarter. Stay tuned.<\/p>\n<hr \/>\n<p><strong>Market and portfolio focus<\/strong><\/p>\n<p><strong>Behaviour:<\/strong><\/p>\n<p>Throughout the week of January 11-17, our fund experienced a modest decline of 0.29%. While the S&amp;P500 remained stable in the United States, the CAC 40 demonstrated an impressive 2.2% upward surge.<\/p>\n<p><strong>Lines:<\/strong><\/p>\n<p>Pfizer (3.6% of the fund): We took advantage of the stock's decline to strengthen our position.<\/p>\n<p>Have a great week,<br \/>\nPierre<\/p>","protected":false},"excerpt":{"rendered":"<p>We hate to be the bearers of bad news, but the corporate landscape is at odds with the surging markets. This week, we present a concise recap of the latest happenings on the frontlines.<\/p>","protected":false},"author":8,"featured_media":3764,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-le-billet-de-monocle"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Monocle - Il est venu le temps des Profit Warning<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Monocle - Il est venu le temps des Profit Warning\" \/>\n<meta property=\"og:description\" content=\"On ne veut pas plomber l\u2019ambiance, mais le newsflow des soci\u00e9t\u00e9s est en contradiction avec ces march\u00e9s qui montent. Cette semaine, on vous fait un petit r\u00e9capitulatif des nouvelles du front.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/monocle.lu\/en\/2023\/01\/18\/il-est-venu-le-temps-des-profit-warning\/\" \/>\n<meta property=\"og:site_name\" content=\"Monocle\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-18T17:44:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-26T17:07:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/monocle.lu\/wp-content\/uploads\/2023\/01\/PW.png\" \/>\n\t<meta property=\"og:image:width\" content=\"664\" \/>\n\t<meta property=\"og:image:height\" content=\"361\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"L&#039;\u00e9quipe Monocle\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"L&#039;\u00e9quipe Monocle\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/monocle.lu\/2023\/01\/18\/il-est-venu-le-temps-des-profit-warning\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/monocle.lu\/2023\/01\/18\/il-est-venu-le-temps-des-profit-warning\/\"},\"author\":{\"name\":\"L'\u00e9quipe Monocle\",\"@id\":\"https:\/\/monocle.lu\/#\/schema\/person\/f095305e6c0f0cb67a0905de33670595\"},\"headline\":\"Il est venu le temps des Profit Warning\",\"datePublished\":\"2023-01-18T17:44:29+00:00\",\"dateModified\":\"2023-01-26T17:07:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/monocle.lu\/2023\/01\/18\/il-est-venu-le-temps-des-profit-warning\/\"},\"wordCount\":571,\"publisher\":{\"@id\":\"https:\/\/monocle.lu\/#organization\"},\"image\":{\"@id\":\"https:\/\/monocle.lu\/2023\/01\/18\/il-est-venu-le-temps-des-profit-warning\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/monocle.lu\/wp-content\/uploads\/2023\/01\/PW.png\",\"articleSection\":[\"Les Billets de Monocle\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/monocle.lu\/2023\/01\/18\/il-est-venu-le-temps-des-profit-warning\/\",\"url\":\"https:\/\/monocle.lu\/2023\/01\/18\/il-est-venu-le-temps-des-profit-warning\/\",\"name\":\"Monocle - 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