About You, one of Europe’s fastest growing online fashion stores, recently announced a positive adjusted EBITDA in the first quarter of 2023/2024, reaching break-even earlier than expected. Defying continued volatile market conditions, About You made significant progress on improving profitability and driving efficiency while still increasing revenue, customers, and orders. For the remaining year, About
PepsiCo missed expectations for second-quarter revenue as a series of price hikes and competition from private-label brands slowed sales of its snacks and soda mainly in the USA, its largest market. Analysts have said that product prices, which are starting to normalise after nearly two years of multiple hikes, are still higher than pre-pandemic levels,
While American children may wish summer vacation would never end, retailers want back-to-school season to start earlier than ever – preferably now – and are timing promotions ahead of Amazon’s Prime Day. With deals on sneakers, computers, kids’ clothing and backpacks, Walmart, Target and Shein hope to entice parents to start back-to-school shopping and capture dollars that
Spinneys, the UAE’s leading premium fresh food retailer, has announced the launch of its first-ever store in Riyadh, as part of a wide expansion plan throughout the Kingdom of Saudi Arabia. Its first store in Saudi Arabia is located in La Strada Yard in the popular An Nuzha district of Riyadh, spanning a retail space
Russians are still indulging in foreign-made Toblerone chocolate, showing the difficulty of USA manufacturer Mondelez’s plan to isolate its business in the country from its global operations. Facing continuing pressure from employees, activists and investors to leave Russia, Mondelez planned to make its business there “standalone with a self-sufficient supply chain” by the end of
Australia could impose billion dollar fines on big supermarket chains that fail to comply with an industry code of conduct, the federal government has said as it seeks to address concerns that suppliers have been unfairly squeezed on pricing. Grocers with more than A$5 billion ($3.3 billion) in annual revenue — currently Woolworths, Coles, Germany’s
McDonald’s will roll out its $5 meal deal from June 25 for a limited time at some restaurants across the USA, the burger giant has said, as fast-food chains ramp up cost-friendly options to boost spending among lower-income groups. Restaurant Brands International-owned rival, Burger King, is also considering a $5 ‘Your Way Deal’ as companies
Retail giant Walmart says it is against putting panic buttons in stores — a move that the New York legislature wants to require under a new law aimed at keeping retail workers safe. The New York State Senate recently passed legislation that would make most big retail chains, including Walmart, to put panic buttons in
Zara will expand its live shopping broadcasts to the UK, Europe and the United States this year, testing a format that is already wildly popular in China but one with which Western shoppers are less familiar. The fast-fashion brand is investing in new ways to engage shoppers as analysts expect sales to grow less strongly
Hong Kong and Singapore face extensive retail leakage, with residents in Asia’s top financial hubs preferring to shop and dine across their borders – Shenzhen for Hongkongers and Johor Bahru for Singaporeans – where they get more bang for their buck. Analysts expect the trend to persist, calling it a “new normal” in the case
