Cisco reports 13% drop in sales
Network equipment maker Cisco reported a 13% drop in year-on-year sales to $9bn for the first quarter of its 2010 financial year, which pushed down earnings 19% to $2.1bn.
Retail sales fell for the tenth month in a row, with a balance of 47% of retailers registering drops in the first two weeks of the year, according to the CBI business group's Distributive Trades Survey.