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NEW YORK, United States (AFP) — Nike reported solidly higher third-quarter earnings Tuesday, but warned a tough North American selling environment would crimp profit margins. The sports apparel and sneaker giant scored profits of $1.1 billion for the quarter ending February 28, up 20 percent from the year-ago period. Revenues came in at $8.43 billion, up five percent from the year-earlier period, but a bit below the $8.47 billion expected by analysts. Gross margins contracted […]
SEOUL, South Korea (AFP) — Samsung heir apparent J.Y. Lee took a major step towards control of the family-run conglomerate on Thursday, joining the board as the company reported a 30 percent profit plunge following a highly damaging recall crisis. The move is being seen as a coronation of sorts of the 48-year-old Lee, who is already vice chairman of Samsung Electronics and has seen his influence grow since his father, Samsung patriarch Lee Kun-hee, […]
