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Britain’s Next Sticks to Outlook After Quarterly Sales Rise
Date: November 2, 2022
By James Davey LONDON (Reuters) -British clothing retailer Next reaffirmed full-year guidance that was cut in September as it reported a 0.4% rise in third-quarter full-price sales, slightly ahead of its expectations, sending its shares higher. Next, which trades from about 500 stores and online and is often considered a gauge of how British consumers...
Exclusive-Tesla Plans Mass Production Start for Cybertruck at End of 2023-sources
Date: November 1, 2022
(Reuters) – Tesla aims to start mass production of its Cybertruck at the end of 2023, two years after the initial target for the long-awaited pickup truck Chief Executive Elon Musk unveiled in 2019, two people with knowledge of the plans told Reuters. Tesla said last month that it was working on readying its Austin,...
Tech Rout Widens as Meta Sinks After Results
Date: October 27, 2022
(Reuters) -A carnage in U.S. technology stocks widened on Thursday as shares of Meta Platforms Inc sank 20% after the Facebook parent’s costly metaverse bets and the impact of soaring inflation on ad spending spooked investors. Meta was set to lose about $67 billion in market value, if losses hold through the session, adding to...
Tapestry Deepens Push Into China, Undeterred by Luxury Market Slump
Date: October 26, 2022
By Casey Hall SHANGHAI (Reuters) -Baoji, an industrial city in northwest China with a population of 3 million, doesn’t conform to most people’s idea of a luxury goods market. Sometime soon, however, it will be home to a store for American brand Coach. The store is one of 30 in China that Coach parent Tapestry...
Alphabet’s Miss Fans Inflation Fears Across Digital Advertising
Date: October 26, 2022
By Sheila Dang and Eva Mathews (Reuters) -Google parent Alphabet Inc’s disappointing ad sales sparked worries across the digital media sector on Tuesday as advertisers cut back on their spending in the face of an economic slowdown. Alphabet called out slowing spending by advertisers on YouTube, said financial services spending was cooling on Google, and...
Netflix Targets Global Tv Ad Market as Next Business to Disrupt
Date: October 19, 2022
By Dawn Chmielewski and Lisa Richwine (Reuters) – Netflix Inc upended the global entertainment industry about a dozen years ago with a streaming video service that rendered network television programming schedules and movie screening times all but irrelevant. Now, Netflix is gunning for the last reel of the pay TV business: its estimated $153 billion...