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Earlier this week, analysts at UBS trimmed their profit forecasts for Next, Marks & Spencer, Debenhams, N Brown and Halfords, saying "the promotional environment remained intense" in the UK.
John Butler, chief UK economist at HSBC, says that despite the embarrassing climbdown of December's pre-Budget report, when Brown was forced to halve his forecasts for economic growth last year, the Treasury's forecasts for next year still look too optimistic.
Ball Two: The company reports stellar fourth-quarter earnings of $914 million and offers an overly ambitious prediction that volume growth will come in the low range of forecasts for next year (about 5% volume growth).
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Mr. Levy raised his revenue forecasts for this year and next.
Looking ahead, the forecasts for next week remain uncertain.
However, hopes of a mini-heatwave were dampened by forecasts for next week.
"With inflation forecasts for next year sliding, the Bank is under no pressure to hike rates.
"Consensus forecasts for next year's US profit growth border on the hallucinatory," says Tim Bond of Barclays Capital.
On November 21st, Morgan Stanley Dean Witter slashed its forecasts for next year's profits by one-fifth.
Analysts at UBS have cut their earnings forecasts for next year, and moved their recommendation from buy to neutral.
Unemployment hovered between 0 and 1percentt (while forecasts for next spring are as high as 10percentt).
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com