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TechnologyRetail Technology Predictions for 2023
Top StoriesBritons Are Shopping for Holidays, Says Primark
Top StoriesBritain Facing Tomatoes Shortage After Overseas Harvests Disrupted
Top StoriesAnalysis-To Raise Prices or Not? Consumer Goods Makers Weigh Bets on Buyer Strength
Aussie Supermarkets Set to Capitalise on High Inflation, but Softer Demand Ahead
Date: February 20, 2023
By Harshita Swaminathan (Reuters) – Australian supermarkets will reap bigger profits in fiscal 2023 half-year due to decades-high inflation and increased savings, but analysts warned of a rough second-half as households reel from mounting expenses due to higher cost of living. Top supermarket chains Woolworths Group and Coles Group will likely see growth in their...
Gucci Banks on Private ‘salons’ for the Ultra-Rich to Revive Sales
Date: February 17, 2023
By Mimosa Spencer PARIS (Reuters) – Gucci is banking on new ultra-high-end “salons” offering merchandise priced at up to $3 million to help narrow a widening gap with rival Louis Vuitton as it waits for its new creative director to arrive. Chasing after the ultra-rich whose fortunes are largely immune to economic turbulence, Gucci will...
Aldi UK to Recruit 6,000 After Strong Christmas Trading
Date: February 16, 2023
LONDON (Reuters) – The British arm of German discounter Aldi said on Thursday it was looking to hire more than 6,000 workers, continuing its expansion plans after a robust performance over the key holiday season. New stores were planned in Norwich and Newcastle in England, it said in a statement. The company is also recruiting...
Shopify’s Revenue Forecast Fails to Impress, Shares Fall
Date: February 16, 2023
By Nivedita Balu (Reuters) -Shopify Inc on Wednesday forecast slowing revenue growth for the current quarter despite price hikes and new product launches, signaling that macroeconomic challenges were weighing on its merchants’ online businesses. U.S-listed shares of Shopify, which started 2022 as the most valuable Canadian company before losing three-quarters of its value, fell about...
Carrefour Predicts More Profit Growth This Year Despite High Inflation
Date: February 15, 2023
By Dominique Vidalon PARIS (Reuters) -Europe’s largest food retailer Carrefour is confident on its 2023 outlook after reporting record free cash flow of 1.26 billion euros ($1.35 billion) and another rise in full-year operating profit despite high inflation. Carrefour predicted further growth this year across its main three indicators – earnings before interest, taxes, depreciation...
Ikea Stores Owner Ingka Says Campaigns Help Boost Store Visits and Sales
Date: February 14, 2023
By Anna Ringstrom and Marie Mannes STOCKHOLM (Reuters) – Price cuts at IKEA as well as promotional campaigns which the budget furniture giant normally doesn’t do have boosted footfall and sales, the CEO of the company which owns most of its stores told Reuters, as it seeks to offset weak consumer confidence. Cost inflation and...