retail-trade
Top StoriesChristmas Shopping Begins Early as Britons Face Cash Crunch
BusinessSupermarket Operator Ahold Hikes 2022 Earnings Outlook Again
InvestingEuropean Shares Ease From Eight-Week Highs as U.S. Midterm Results Pour In
Top StoriesAhold Turns to Solar Panels, Lowers Thermostats to Save Energy
Britain’s M&s Warns of ‘gathering Storm’ of Higher Costs and Weak Consumer
Date: November 9, 2022
By James Davey LONDON (Reuters) -British retailer Marks & Spencer warned on Wednesday of a “gathering storm” of higher costs and pressure on household budgets, as it reiterated full-year profits would fall. The 138-year old clothing and food group, one of the biggest names in British business, reported a 24% decline in profit before tax...
Primark Owner Ab Foods Warns of ‘substantial’ Cost Inflation
Date: November 8, 2022
By James Davey LONDON (Reuters) -Primark owner Associated British Foods faces “substantial and volatile” input cost inflation that will hit results in its new financial year, it said on Tuesday, taking the shine off a 42% jump in 2021-22 profit. AB Foods, which also owns sugar, grocery, ingredients and agricultural businesses, reiterated a September forecast...
Pandora Braces for Recession Despite Resilient Demand
Date: November 8, 2022
By Nikolaj Skydsgaard COPENHAGEN (Reuters) -Danish jewellery maker Pandora reported third-quarter sales just above expectations on Tuesday and said it is braced for recession even though shopper demand has proven resilient in the face of soaring living costs. “Despite macroeconomic and geopolitical uncertainty, the shopping patterns of our consumers are so far largely unchanged,” Chief...
Kellogg Raises Annual Forecasts on Higher Prices as Margin Pressure Looms
Date: November 3, 2022
(Reuters) -Kellogg Co raised its full-year sales and profit forecasts on Thursday as demand for pricier cereals and snacks stays strong in North America amid relentless cost pressures. The cereal maker’s shares were down about 6% at $71.20 as the company warned its profit margins in the fourth quarter would not improve as much as...
Inter Ikea Posts 45% Profit Fall on Costs, Russia
Date: November 3, 2022
STOCKHOLM (Reuters) – IKEA franchiser Inter IKEA posted a 45% fall in pre-tax profit for the year through August to 931 million euros ($908 million) as it passed on some, but not all, costs to store owners. The fall reflected higher raw material and transport costs as well as the closure of its factories in...
Zalando Sees Fy Results at Lower End of Target Range
Date: November 3, 2022
FRANKFURT (Reuters) -Zalando, Europe’s biggest online fashion retailer, said it now expects its full-year revenues and operating profit to reach the lower end of its target range as it reported quarterly financial results. Zalando as well as rivals such as ASOS and Boohoo are feeling the impact of waning consumer confidence amid soaring inflation. Zalando...