Group 1 Automotive To Cut U.K. Headcount By Approximately 10% - Update
(RTTNews) - While reporting financial results for the fourth quarter on Wednesday, Group 1 Automotive, Inc. (GPI) President and Chief Executive Officer Daryl Kenningham said the automotive retailer expects to cut its U.K. headcount by approximately 10 percent as it focuses on reducing costs in the U.K. in the first quarter of 2024.
"We continue to execute well in this evolving U.S. market. We experienced challenges in our U.K. operations during the current quarter with used vehicles and recognize we have some work ahead of us to bring our costs back in-line with recent trends," added Kenningham.
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Group 1 Automotive Boosts Dividend, Stock Repurchase Authorization
Automotive retailer Group 1 Automotive, Inc. (GPI) announced Wednesday its board of directors increased the Company's common stock repurchase authorization by $161 million to $200 million. The Company expects that any repurchase of shares will be funded by cash from operations. Repurchased shares will be held in treasury.
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806 дней спустя
European Stocks Close On Firm Note After ECB's Rate Decision
European stocks closed higher on Thursday with investors reacting to a slew of earnings and economic data, and the European Central Bank's decision of a 25-basis point interest rate cut.
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5ч 23мин назад
U.S. Dollar Falls As Economic Growth Slows More Than Expected
The U.S. dollar declined against its most major counterparts in the New York session on Thursday, after a data showed that the nation's economic growth fell short of economist estimates in the fourth quarter of 2024.
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6ч 1мин назад
TSX Rises To Record High On All-round Buying
The Canadian market is up firmly in positive territory a little before noon on Thursday with stocks from several sectors moving higher on strong buying support.
Mining stocks are up sharply following a notable increase in metal prices, and technology stocks are gaining in strength, tracking impressive earnings updates from a few big name U.S. tech companies.
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6ч 59мин назад
U.S. Pending Home Sales Unexpectedly Pull Back Sharply In December
After reporting four straight monthly increases by U.S. pending home sales, the National Association of Realtors released a report on Thursday showing pending home sales unexpectedly pulled back sharply in the month of December. NAR said its pending home sales index plunged by 5.5 percent to 74.2 in December after jumping by 1.6 percent to a downwardly revised 78.5 in November.
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8ч 16мин назад
U.S. Economic Growth Slows More Than Expected In Q4
U.S. economic growth in the fourth quarter of 2024 fell short of economist estimates, according to a report released by the Commerce Department on Thursday. The report said gross domestic product shot up by 2.3 percent in the fourth quarter after surging by 3.1 percent in the third quarter. Economists had expected GDP to jump by 2.6 percent.
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8ч 43мин назад
U.S. Jobless Claims Dip More Than Expected To 207,000
A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits pulled back by more than expected in the week ended January 25th. The Labor Department said initial jobless claims fell to 207,000, a decrease of 16,000 from the previous week's unrevised level of 223,000. Economists had expected jobless claims to slip to 220,000.
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8ч 58мин назад
U.S. Gross Domestic Product Jumps Less Than Expected In Q4
U.S. economic growth in the fourth quarter of 2024 fell short of economist estimates, according to a report released by the Commerce Department on Thursday.
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10ч 11мин назад
