Sales fell 1.5% to $30.45 billion during the latest period. For the full year, sales fell nearly 2% to $104.78 billion.
“It is certainly not good for investment,” Smeaton tells me, with the wry understatement common to Scots. “Or for the U.S. consumer. They are paying higher prices.” MorphCostume’s outfits now cost 9% more, after Smeaton’s business was hit by a $3 million duty bill.
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Reading is on the decline—even as it remains the top habit among the highly successful