Retail sales rose 8 10 of 1 percent in august

Share to Twitter Share to Linkedin To say we are in uncharted territory is an understatement. We’ve been through Black Swan events before, but what seems different this time around is the high level of uncertainty that is still present several weeks into the pandemic in the U.S. (months globally). Normally at this juncture, we have a better understanding of what transpired and a clearer path forward. But for retail, the big question on everyone’s mind is, with as much as $20 billion in retail rents due , where do we go from here? I’ve been in this business for many years on both sides of the aisle and often tenants and landlords come to the negotiating table with differing viewpoints. But that mentality must be put aside for the industry to pull through this crisis. At the risk of waxing poetic – now, more than ever, is the time for landlords and retailers to come together if we are to have shopping centers and stores for quarantined-weary consumers to … [Read more...] about $20 Billion In Retail Rents Due: Why Collaboration Is The Only Way Forward

Share to Twitter Share to Linkedin Hamburg-based travel retailer Gebr. Heinemann was rejoicing this week as it ousted Dufry by winning the tender to run the core retail business at Düsseldorf Airport, Germany’s fourth busiest air gateway after Frankfurt, Munich and Berlin. Heinemann—with revenue of $2.2 billion (€2.1 billion) in 2021—will run a new ten-year concession to operate four duty-free and travel retail stores across all three terminals (A, B, C) from January 10, next year. The 43,000 square feet of space is currently operated by World Duty Free, a Dufry company, and will be stocked with familiar products ranging across liquor, tobacco, confectionery, beauty, fashion, accessories, watches and jewelry. The victory is sweet. World Duty Free, acquired by Dufry in 2015 , took the Düsseldorf concession away from Heinemann in January 2013 after 20 years at the airport. Getting it back was always going to be an objective for family-owned Heinemann which … [Read more...] about Dufry Loses Retail Toehold In Germany As Heinemann Returns To Country’s Fourth Busiest Airport

Share to Twitter Share to Linkedin A girl rides up an escalator at Aeropostale's flagship store in Times Square in New York, U.S. ... [+] Photographer: Ramin Talaie/Bloomberg At first blush, the news of Simon Property Group and General Growth Properties stepping in to save failing retailer Aéropostale from certain bankruptcy seems surprising – but a deeper look reveals, it’s anything but. The deal, a reported $243 million, between Simon, GGP and Authentic Brands Group (operators of Juicy Couture among others) was initially slated to keep all 229 Aéropostale stores open at the two landlord’s properties. However, it appears the two largest mall operators in the country were able to use their relationships and influence to convince other Aéropostale landlords to provide rent concessions for an additional 171 stores – bringing the tally of locations that will remain open to 400. Are Landlords Now in the Business of Retailing? The common … [Read more...] about Mall Owners Play Offense In Aéropostale Deal

Share to Twitter Share to Linkedin One of the biggest challenges for any purpose-led brand pursuing game-changer status isn’t breeding a fanbase who ‘get it’ but selling a vital new narrative to the hardcore apathetic. For fashion, mired in climate crisis and battling the clock to cultivate a circular economy, retuning fans’ mindsets (America throws away and 2150 pieces of clothing every second and even people with positive eco intentions are loathe to sacrifice what they perceive as an identify-defining hobby ) is now mission imperative. Dutch fashion brand 1/OFF Paris, whose couturiers splice together or respectfully reinterpret iconic vintage garments to create ultra-covetable new pieces (think: a Levi’s denim jacket with Chanel’s quintessential ladies-who-lunch tweed; double layered jeans; or two oversized classic men’s blazers tailored into a freshly feminized silhouette) is doing just that. Selling to an audience including legions of the … [Read more...] about 1/OFF Paris: 400% Growth For The Upcycled Fashion Brand Taking Sustainability To Luxury’s Eco-Apathetic

NORTHFIELD, Ill. (AP) — Kraft Foods Inc. will cut 1,600 positions in North America as it prepares to split its business in two. The Northfield, Ill.-based food company said Tuesday that it plans to eliminate the positions throughout the U.S. and Canada during the coming year. The cuts will be made among its sales, corporate and other business units. About 20 percent of the job eliminations are currently open positions. Kraft has roughly 127,000 employees worldwide, including 46,500 in North America. The company announced in August that it would split into two independent companies: a global snacks business and North American grocery business. Kraft said the moves are needed to help the businesses run more effectively. The bulk of the cuts — about 40 percent — will be made among sales positions. Kraft plans to contract sales for its grocery business to two agencies: Acosta Sales & Marketing for its grocery store and big box retailer sales and Crossmark for convenience store … [Read more...] about Kraft Foods to cut up to 1,600 positions

Share to Twitter Share to Linkedin Given Chloe, Poppy and Cara Delevingne’s respective professional successes over the years, it’s surprising it took a global pandemic to join forces. The sisters’ very first collaborative venture—Della Vite—launched in the UK in August 2020 with the unveiling of two premium Proseccos: Della Vite Prosecco Superiore DOCG and Della Vite Treviso DOC. And, despite a general apathy towards the Italian sparkling wine at the time, it went down a storm. “I think for anyone bringing a new product to the market, there are always concerns associated with it, but there was something quite liberating about bring something new, fresh and exciting to a category which didn’t have the best reputation,” says Chloe. “Entry-level Prosecco is a saturated market, but there aren’t many better-quality options out there. People don’t tend to have a favourite brand of Prosecco in the same way as they do champagne or gin. That’s what we’re … [Read more...] about The Delevingne Sisters On Prosecco, Pandemics And Pink Drinks

- A + A KUALA LUMPUR (June 27): MyNews Holdings Bhd posted its ninth consecutive quarter in the red, with a net loss of RM10.22 million in the second quarter ended April 30, 2022 (2QFY22), from RM10.32 million a year ago. The results came amid higher revenue, offset by higher cost of sales and expenses amid an increase in the number of outlets which also contributed to higher footfall. Quarterly revenue rose 35.74% to RM141.10 million, from RM103.94 million, the group said. Losses per share stood at 1.51 sen, from 1.5 sen. On a quarterly basis, the group’s net loss widened in 2QFY22, from a net loss of RM7.86 million in 1QFY22, while revenue improved by 1.2% from RM139.44 million. The weaker quarter-on-quarter performance was due to additional costs incurred in establishing and promoting the launch of 26 new CU stores in the quarter, it said. For the six-month period ended April 30 (1HFY22), the group’s net loss narrowed to RM18.08 million from a net loss of … [Read more...] about MyNews maintains expansion mode as it continues to bleed in 2QFY22

For many individuals, obtaining tax benefits , and not retirement planning, is the primary objective of investing in the National Pension System (NPS) . This despite the scheme gaining popularity in the recent years as a pure-play retirement tool. As per the Pension Funds Regulatory of Authority of India (PFRDA) data, the non-government sector subscriber base rose 2.4 lakh in the financial year 2021-22 up to August. During the same period last year, the system had seen 1.6 lakh new subscribers being added to its fold. Do I get extra tax breaks if my employer offers NPS? If you contribute to NPS under the All Citizens’ Model, you are eligible for deductions under section 80C, with a limit of Rs 1.5 lakh. Your contributions as an employee will also entitle you to this tax benefit. Moreover , you can claim an additional break of Rs 50,000 under section 80CCD (1B). Now, if you are a salaried employee and your cost-to-company structure is such that your employer … [Read more...] about Explained: How corporate NPS works and offers additional tax benefits

Borrowing costs of Indian states are likely to rise in the coming weeks as the Reserve Bank of India ’s (RBI) rate hike cycle becomes more entrenched and the supply of state papers rises, money market experts and bankers told Moneycontrol on June 27. A majority of those expect the yield on the 10-year state development loan (SDL) to rise above 8 percent in the coming weeks. “In the first quarter of this fiscal year, supply of debt was limited. But in the second half of this fiscal year, we expect state debt supply to rise and that should put upward pressure on (state) bond yields,” said Ritesh Bhusari, deputy general manager, treasury, at South Indian Bank. To put in perspective, the cut-off yield for 10-year SDL ranged from 7.83 percent to 7.86 percent at an auction on June 21, according to data from the RBI. Prior to that, at an auction on June 14, Tamil Nadu’s 10-year paper was sold at a cut-off yield of 7.94 percent, while Haryana’s 10-year bond was sold at 7.95 percent. … [Read more...] about States’ borrowing cost set to rise on higher debt supply, RBI’s rate cues, experts say

(Image: Shutterstock) Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Mahindra & Mahindra Ltd (M&M) is likely to report a year on year growth of about six times or 520 percent in standalone profit after tax to Rs 1,000 crore for the quarter ended March today. Sequentially, PAT is seen declining 25 percent due to higher cost of raw materials and other expenses as well as lower other income. Revenue for the Mumbai based automaker is expected to grow 26 percent on year to Rs 16,880 crore aided by increase in volumes, higher realisations and improved product mix in favour of better priced sports utility vehicles (SUV). The company had reported a standalone PAT of Rs 162.5 crore during the corresponding period in the previous financial year while achieving a revenue of Rs 13,338 crore. PAT was impacted by an exceptional … [Read more...] about M&M Results Preview | Profit to decline 25% sequentially on higher costs