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Chief Financial Officer Bruce Besanko said on a post-earnings call that there is going to be higher cost of shipping as Kohl’s invests more in its online business. “We also know that in the fourth quarter, there is just generally more promotion that happens. And so we’ll take effect of that in our gross margin outlook,” Besanko added. Kohl’s raised the lower end of its adjusted full-year earnings forecast to $5.35-$5.55 per share from its earlier forecast of $5.15-$5.55. But the midpoint of the range was below the analyst average estimate of $5.51, according to IBES data from Refinitiv gold wedding cufflinks uk sale.
While the upcoming holiday season is widely expected to help rekindle sales after years of declines due to competition from online rivals, weak outlooks from Kohl’s and other big department store chains such as Macy’s (M.N) and Nordstrom Inc (JWN.N) indicate that the growth is still some time away gold wedding cufflinks uk sale. “Overall, the market backdrop has been quite volatile lately,” Oppenheimer & Co analysts said in a note. “Investors seem concerned ..and have been willing to lighten positions in retail – especially on any results less than stellar,” they added..
FRANKFURT (Reuters) – Germany’s financial watchdog has asked Deutsche Bank (DBKGn.DE) to provide information on its dealings with Danske Bank (DANSKE.CO), which is caught up in money laundering allegations, a source close to the matter said on Tuesday. After evaluating the data, the regulator – BaFin – will decide whether to launch a formal investigation into Deutsche Bank, the source said. BaFin declined to comment. A spokesman for Deutsche Bank said: “We are neither aware of any investigation by BaFin nor have we received any formal requests for information.” gold wedding cufflinks uk sale.
On Monday, Deutsche Bank confirmed for the first time that it had acted as a correspondent bank for Danske Bank in Estonia. “Our role was to process payments for Danske Bank,” a spokesman for Deutsche Bank said on Monday. “We terminated the relationship in 2015 after identifying suspicious activity.”. A spokesman for Danske Bank declined to comment on its relationship with Deutsche Bank gold wedding cufflinks uk sale. A whistleblower, who revealed alleged money laundering involving Danske Bank, had said on Monday that a major European bank helped process up to $150 billion in suspicious payments, or nearly two-thirds of the transactions under scrutiny..
The source, who spoke on condition of anonymity, said BaFin was trying to determine to what extent Deutsche, as correspondent bank, should have been aware of who was behind the transactions it was helping to process. A finance industry expert at a major consulting firm said that regulators increasingly expect correspondent banks to know the senders and receivers of the funds they help to transfer, especially in high risk regions gold wedding cufflinks uk sale. The Wall Street Journal reported on Tuesday that Deutsche Bank found in an internal investigation that it handled about $150 billion in potentially suspicious transactions for Danske Bank. A Deutsche Bank spokesman declined to comment on the Journal report..