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Analysis-As Inflation Soars, European Consumer Goods M&A Slows
Date: July 28, 2022
By Richa Naidu LONDON (Reuters) – As a cost-of-living crisis with no end in sight sends shockwaves through Europe, deals in the region’s retail and consumer-products industries have slowed dramatically – even more so than in other sectors, data shows. Record inflation around the world has changed the way people shop, with many families trading...
Carrefour Raises 2022 Savings Goal, Confident on Second Half
Date: July 27, 2022
By Dominique Vidalon PARIS (Reuters) -Europe’s largest food retailer Carrefour said on Wednesday it was confident about the second half of the year after reporting higher first-half operating profit and raising its 2022 cost-savings target amid accelerating inflation. Carrefour said cash generation would remain above one billion euros in 2022, as it now aims for...
Gucci’s Sales Growth Eases in Q2 as China Lockdowns Weigh
Date: July 27, 2022
PARIS (Reuters) -Sales at French luxury group Kering’s top brand Gucci rose by just 4% in the second quarter, the group said on Wednesday, as a new round of lockdowns weighed on revenues in the key Chinese market. Overall sales for Kering, which is also home to fast-growing labels Saint Laurent and Bottega Veneta, came...
From Burgers to Bleach, Stressed Consumers Buy Cheap
Date: July 26, 2022
By Hilary Russ and Richa Naidu NEW YORK/LONDON (Reuters) -Some global consumers are showing signs of cracking, as shoppers stressed by record inflation stick to buying basics like food, bleach and cheap burgers, while those with bigger bank accounts are snapping up $3,000 Louis Vuitton handbags. Investors are closely watching corporate results for signs economies...
Europe’s High-Spending Tourists Set to Lift French Luxury Sales in Q2
Date: July 22, 2022
By Mimosa Spencer PARIS (Reuters) – Free-spending tourists in Europe are expected to drive brisk second quarter sales at French luxury groups LVMH, Gucci-owner Kering and Hermes, helping to offset the impact of disruptions in China from COVID-19 restrictions. High-end French and Italian fashion houses have been riding a wave of strong, post-pandemic demand for...
How Buy Now, Pay Later (bnpl) Is Impacting Brick-and-Mortar Stores
Date: July 22, 2022
By Monica Eaton-Cardone, COO and Co-Founder of Chargebacks911. “Buy now, pay later,” or “BNPL” plans are increasingly embraced by both merchants and consumers as an alternative payment method. BNPL offers a way to make purchases now, stretch payments out over several weeks, and do it all without any existing line of credit. Merchants are...