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Warmer-than-usual winter stings Dick’s 4Q

CORAOPOLIS / AP Dick’s Sporting Goods fiscal fourth-quarter performance missed Wall Street’s view as warmer-than-usual winter weather crimped the sporting goods retailer’s sales. It also provided guidance below analysts’ estimates. The stock dropped more than 5 percent this week. Many people are wondering how Dick’s will fare now that rival Sports Authority has filed for Chapter 11 bankruptcy protection. Last ...

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Kenya Airways plans $690mn reorganisation, downsizing

NAIROBI / Bloomberg Kenya Airways Ltd., sub-Saharan Africa’s third-largest airline, is planning a 70 billion-shilling ($690 million) restructuring programme that includes reducing its fleet and cutting staff, Chief Executive Officer Mbuvi Ngunze said. The carrier, based in the capital, Nairobi, has been working on a turnaround plan after reporting the largest loss in Kenyan corporate history last year. The carrier plans ...

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Amazon leases 20 jets to build out logistics network

NEW YORK / AP Amazon is taking to the skies. The e-commerce powerhouse has finalised an agreement to lease 20 Boeing jets from Air Transport Services Group Inc. as it builds out its US delivery capabilities. Amazon has been investing heavily in its shipping infrastructure, adding sorting centers, which sort packages by zip code and deliver them to post offices. ...

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