Corporate Gloom Spreads in Europe as Rolls-Royce to Nestle Miss
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While Rolls-Royce Holdings Plc’s gas turbines and Jimmy Choo Plc’s $1,995 peep-toe sandals have nothing in common, today the two companies encapsulated the corporate decline that’s gripping Europe.
It’s been a tough week for European companies, with Rolls-Royce cutting its full-year target for sales and cash flow, leading the stock to drop the most in eight months, while Jimmy Choo sold shares to the public at the bottom end of its range.