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Article: Boat sales pull down Brunswick: Shares fall 7% after earnings warning.
- Article from:
- Chicago Tribune (Chicago, IL)
- Article date:
- July 13, 2006
CopyrightCOPYRIGHT 2006 Chicago Tribune. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: James P. Miller
Jul. 13--Shares of Brunswick Corp. dropped sharply Wednesday after the nation's leading recreational boat-maker, citing "significant declines" in sales at the retail level, warned investors that second-half earnings will fall well short of expectations. The downbeat disclosure by the Lake Forest-based manufacturer, whose stock slid more than 7 percent to its lowest close in more than 2 1/2 years, represents unambiguous evidence that rising interest rates and high fuel costs are beginning to take a toll on the boating industry. In view of the "precipitous" deterioration in sales, said Morningstar analyst Marisa Thompson, it appears ...
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