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US: Despite Strong earnings from IBM and a mega merger in the bank industry the stock market was flat near the close, with investors showing some disappointment about the broad tech sector's earnings and forecasts. Boots reported Christmas sales in line with expectations and promised to lower more prices and extend opening hours in its battle with the grocers. Like-for-like sales at its core chemist chain were up 4.1 percent which was in line with the range of analysts' forecasts of 2.0-5.9 percent but above the consensus. Peacock low-cost clothes retailer said its performance in the third quarter meant it expected to meet forecasts for its financial year to end-March. Like-for-like sales fell by 0.3 percent in the 13 weeks to December 27, but grew by 4.8 percent in the 39 weeks to December 27 Geest said annual operating profit would be in line with expectations as it increased prices to help offset higher raw material costs. Total sales rose about 12 percent in the year to January 3, with UK sales of fresh prepared foods its key market up about six percent |
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