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The article under consideration is about the profit of large companies in different spheres of life. The text of the article provides the information on which companies increased and decreased their profit in the beginning and during pandemic, and what reasons existed for that.
The authors also pay attention to the forecast of the future for businessmen, which is based on real facts.
This article is of interest to those who like to read world news, business news, as well as to those who are studying English as a foreign language. Students can enlarge their vocabulary reading this text.
Key words: pandemic, business, profit, company, stock index, increase.
While the Pandemic Wrecked Some Businesses, Others Did Fine. Even Great
The article under the title “While the Pandemic Wrecked Some Businesses, Others Did Fine. Even Great” is written by Peter Eavis and Niraj Chokshi on November, 20 in 2020.
This article is about the situation in business after pandemic. Some companies increased their profit, some of them lost. For example, Amazon said about 70 % increase in earnings. But pandemic had played a bad role for such a company as Delta Air Lines.
In the beginning of the article the authors of the text tell about improvements of some companies in business in autumn in comparison with the spring, when the pandemic has just begun. This can be confirmed by the investigations results of some analysts, who inform 80% of companies in the S&P 500 stock index have exceeded expectations.
The authors think that being at home during pandemic people began to use online services more than usual. The companies, which could offer their services online, have won. Some companies during pandemic run their businesses better, than ever.
For example, a mortgage company was afraid that people would not be able to pay credits, but received help from the federal regulator. And refinancing helped as well. So, the Mr. Cooper’s revenue in the first nine months of the year was up 40 percent.
Further in the text the authors say, why people could pay everyday expenses. There are some reasons for this. First of all, people who haven’t lost jobs, stopped spending money for fun and trips, and this is a real economy for them. The second reason is stimulus payments from the government.
Thriving companies this month include Ford, General Motors, and large restaurant chains. The automakers had to close their factories for about two months in the beginning of pandemic, but sales started picking up this summer. As for the restaurant chains, for example, Papa John’s reported surging sales, profits and cash flow and announced a new stock buyback program.
It must be said there are losers between companies as well. For example, Olive Garden has in-restaurant business, and their sales declined. Among other losers there may be called Hertz, Avis Budget Group, united and American Airlines.
In conclusion the authors of the text say the leaders of different companies believe the Congress will help to pay their workers.
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