H&M shares drop 13% after CEO casts doubt on June sales
H&M shares fell 13% on Thursday after its CEO questioned the company’s ability to meet its full-year profit targets and predicted weak sales in June. The Swedish company said its sales this month were expected to fall 6 percent year-on-year in local currency terms, due in part to continuing bad weather in many markets. Chief […]
US auto sales projected to slump in June due to disruption from CDK outage
Ryan Payne, President of Payne Capital Management, appeared on “Mornings with Maria” to explain the latest data on the auto industry. U.S. new vehicle sales are expected to fall this month compared to June 2023 due to an outage at software provider CDK Global that affected dealerships across the country, according to a new report. […]
Bud Light’s Sales Implosion, Explained (by Mises)
Estimated Reading Time: 4 minutes I stopped drinking Bud Light decades ago, so when the Dylan Mulvaney controversy exploded last month, I didn’t need to consider if I’d stop drinking Anheuser-Busch’s most popular product. What’s clear is that many others have decided to quit the beer over the brand’s decision to wade into transgender politics. […]
Paramount Global reveals more layoffs, asset sales on the way
Paramount Global executives have warned of further job cuts as part of a $500 million cost-cutting plan to stem a “totally unacceptable” decline in the media giant’s profitability. About 500 employees learned of the tough plans, which also include revamping the Paramount+ streaming service and hiring bankers to sell unspecified assets, during an all-hands meeting […]
TV sales for Euro 2024 help triple profits at retailer AO World | AO World
Online electrical goods retailer AO World saw its profits almost triple, helped by a surge in tumble dryer sales during a wet winter and strong Euro 2024 TV sales. Revenues at the retailer, which sells 15% of household appliances in the UK, have also been boosted by the continued popularity of air fryers, which it […]
X CEO Linda Yaccarino shakes up inner circle amid pressure from Elon Musk to boost sales, cut costs: report
Linda Yaccarino, the chief executive of social media platform X, has revamped her entourage amid pressure from owner Elon Musk to boost sales and cut costs, the Financial Times reported on Sunday. Earlier this month, Yaccarino fired his right-hand man, Joe Benarroch, his chief business operations and communications officer, the Post reported, citing three people […]
Starbucks warned to chop customer wait times as sales slip
Starbucks is being asked to come up with ways to reduce wait times. There’s nothing worse than having a barista waiting during the morning rush, and with Starbucks’ sales set to fall in 2024, experts are urging the coffee giant to speed up the process to boost customer loyalty. The coffee roasting company reported its […]
Home sales drop for third straight month as prices hit record high
U.S. existing home sales fell for a third straight month in May, the most active time of the year for the housing market, as rising mortgage rates and record home prices discouraged many would-be buyers from buying. U.S. existing home sales fell 0.7% from the previous month to a seasonally adjusted annual rate of 4.11 […]
Home Sales Drop For Third Straight Month, Prices Hit Record High
(Photo by Joe Raedl/Getty Images) James Myers of OANFriday, June 21, 2024 10:24 AM U.S. existing home sales fell for a third straight month in May as rising mortgage rates and record prices discouraged many would-be buyers from buying at a time when the housing market is usually at its most robust. advertisement Existing home […]
Biden Administration Moves Ukraine to Top of List for US Weapons Sales
The Biden administration has decided to put Ukraine at the top of the list of countries receiving air defense weapons, effectively forcing the U.S. ally to wait at least 16 months to receive the same weapons. The administration said that Russia has stepped up missile and drone attacks on Ukraine in recent months in an […]