Montauk restaurants hit by drop in sales amid soaring hotel prices in Hamptons
Normally bustling Montauk restaurants are suffering a dramatic drop in activity as rising hotel prices send inflation-hit Hamptons guests seeking cheaper destinations, Side Dish has learned. A wine and spirits distributor to Montauk restaurants said “drinks” sales are down about 20% this year. “That’s a really big number,” said a full-time East End salesman, adding […]
KFC, Pizza Hut sales slump as sticky inflation hampers parent Yum’s bottom line
Yum! Brands, the parent company of KFC and Pizza Hut, reported a larger-than-expected drop in same-store sales in the second quarter as high inflation led lower-income Americans to spend less on eating out. U.S. same-store sales for its Yum Fried Chicken (KFC) division fell 5% in the second quarter, down from a 7% decline in […]
U.S. Automakers in China Suffer Dire Situation with ‘Tumbling’ Sales
American automakers, as well as those based in other parts of Europe and Asia, are seeing their sales in China plummet and are being forced to withdraw from the market. General Motors (GM) and Ford Motor Company Fighting Auto expert Michael Dunn has described sales in China as “plunging.” Other automakers, including Germany’s Volkswagen and […]
Nintendo profit plunge 55% as sales of Switch console slump
Nintendo said on Friday that sales of its seven-year-old gaming console, the Switch, had slumped and its profits had fallen 55%. The stock fell nearly 10% on Friday following the disappointing earnings report. Japanese video game company Nintendo’s sales for the first quarter, which ends in June as part of the Bank of Japan’s fiscal […]
Despite tough times for Tesla, EV sales set new record in second quarter
EV sales increased by more than 11% in the second quarter. (iStock ) The electric vehicle (EV) market is booming around the world, despite tough times for EV giant Tesla, with research firm reporting that U.S. electric vehicle sales rose 11.3% in the second quarter of 2024. Report from Kelley Blue BookQuarterly sales reached a […]
Apple’s iPhone sales better than expected as demand picks up ahead of AI launch
Apple Inc. on Thursday forecast solid growth after third-quarter iPhone sales beat Wall Street expectations despite disappointing overall performance in China. The company’s shares rose 1% in after-hours trading. Apple said its fourth-quarter sales would grow at the same rate as the 4.9% increase in the April-June quarter. LSEG data showed sales of $85.78 billion […]
Apple beats earnings forecast despite decline in iPhone sales | Apple
Apple reported better-than-expected profits for the third quarter of 2024, with buzz about new AI capabilities helping to offset continued declines in key market China. Despite a decline in iPhone sales compared to the same period a year ago, revenue beat analyst expectations, rising 4.9 percent to $85.78 billion for the three months ended June […]
Hershey cuts yearly guidance, profit after 17% drop in sales
Hershey’s on Thursday reported a 17% drop in second-quarter sales and sharply cut its full-year profit and sales outlook. Shares plunged 4.5% early Thursday morning but have since risen 5%. The Pennsylvania-based candy company, which has a market capitalization of $38.83 billion, like many in the food and snack industry, has been struggling as consumers […]
NBC breaks record in advertising sales as Paris Olympics ratings soar
While U.S. athletes slowly win Olympic gold medals, NBC is celebrating platinum advertising revenues. NBCUniversal announced Wednesday that advertising revenues for the Paris Summer Olympics set a new record for the company, surpassing the previous record of $1.25 billion generated by the last Olympics in Tokyo. The media giant declined to disclose how much advertising […]
German Car Parts Giant ZF Lays Off Thousands over Lousy Electric Vehicle Sales
Slumping sales of electric vehicles have forced German auto parts maker ZF Friedrichshafen AG to make job cuts, according to reports. The cuts are in response to “changes in the mobility sector, especially in the area of electric vehicles.” “The workforce in Germany will be reduced by 11,000 to 14,000 jobs from the current level […]