(Reuters) – As the coronavirus epidemic spreads in China and beyond, U.S. companies will see profits stagnate in 2020, according to a Goldman Sachs (NYSE:) report.
Several big names in the U.S. consumer and tech sectors have already warned of a hit from the rapid spread of the epidemic that has disrupted supply chains, hurt global travel and led to temporary shutdowns of businesses.
Here’s a list of some big names from Corporate America that have announced a financial impact from the outbreak.
** Apple Inc (O:) warned it was unlikely to meet its March-quarter sales forecast as the iPhone maker’s manufacturing facilities in China were ramping up slower than expected.
** Microsoft Inc (O:) said it does not expect to meet its quarterly revenue forecast for its Windows and personal computing business due to a hit to its supply chain.
** PC maker HP Inc (N:) said it factored in an 8 cents per share impact into its second-quarter profit outlook as it expects coronavirus outbreak to hit its businesses and supplies.
** Canada Goose Holdings Inc (TO:) (N:) forecast an annual revenue hit of up to C$51.6 million.
** Versace owner Capri Holdings Ltd (N:) warned of a $100 million hit from the outbreak and cut its annual revenue forecast.
** Estee Lauder Cos Inc (N:) trimmed its fiscal 2020 per-share earnings forecast, in part due to the impact from the outbreak.
** Ralph Lauren Corp (N:) has closed about two-thirds of its 110 stores in China and expects a $55 million to $70 million hit to its fourth-quarter sales in Asia.
** Coach handbag maker Tapestry Inc (N:) warned of its second-half financial results being dented by about $200 million to $250 million in sales and 35 cents to 45 cents in earnings per share.
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