Peloton to cut jobs, shut stores and raise prices in company-wide revamp

Aug 12 (Reuters) – Peloton Interactive Inc (PTON.O) said on Friday it would cut jobs, shut stores and raise prices on its exercise equipment including treadmills and top-end bikes as it undertakes a company-wide revamp to shore up its revenue and improve cash flow. Shares of the company surged about 11% in afternoon trade after … Read more

Take-Two forecasts annual adjusted sales below estimates on waning demand

Aug 8 (Reuters) – Take-Two Interactive Software Inc (TTWO.O) forecast its annual adjusted sales below expectations on Monday, crippled by waning demand for many of its titles as easing of COVID-19 constraints dampens stay-at-home gaming . Shares of the New York-based company, which fell nearly 30% this year, dropped 7% in extended trading. The surging … Read more

Green Thumb’s quarterly cannabis sales hit New Jersey high

FILE PHOTO – Marijuana plants for the adult recreational market sit on the back of a tractor for planting at Hepworth Farms in Milton, New York, US, July 15, 2022. REUTERS/Shannon Stapleton Register now for FREE unlimited access to Register Aug 3 (Reuters) – Green Thumb Industries Inc (GTII.CD) posted a more than 14% … Read more

Nintendo Q1 Switch sales slump 22% to 3.43 million units

Different models of the Nintendo Switch are seen on display in a GameStop in Manhattan, New York, US, December 7, 2021. REUTERS/Andrew Kelly Register now for FREE unlimited access to Register Maintained annual sales Switch forecast at 21 million units Forecasting second year of Switch sales decline Nintendo to release new ‘Pokemon’ titles in … Read more

Hong Kong June retail sales decline at a slower pace

June tourist arrivals soar 563.1% y/y after May’s 252.7% growth June jewellery, watch sales up 2.3% y/y vs May’s 7.7% rise Govt expects spending vouchers to support consumption demand HONG KONG, Aug 2 (Reuters) – Hong Kong’s retail sales in June fell at a slower pace than the previous month, official data released on Tuesday … Read more

Ray-Ban maker EssilorLuxottica sees Americas sales growth slow

Ray-Ban sunglasses are pictured for sale in a Sunglass Hut, both brands owned by EssilorLuxottica SA, in Manhattan, New York City, US, November 30, 2021. REUTERS/Andrew Kelly Register now for FREE unlimited access to Register H1 operating margin up 100 basis points to 18.4% Comparable revenue up 7% to 6.39 bln euros Sales growth … Read more

Hermes snubs luxury resale market

The logo of Hermes is seen on a store in Paris, France, April 24, 2020. REUTERS/Charles Platiau/File Photo Register now for FREE unlimited access to Register PARIS, July 29 (Reuters) – Birkin bag maker Hermes (HRMS.PA) is not interested in getting involved in the fast-growing second-hand luxury market which has attracted some of its … Read more

Spain’s Fluidra first-half net profit slips 4.5%, improves sales outlook

The entrance of Fluidra SA is pictured in a business complex, which is a Spain-based company active in the pool and wellness equipment business, outskirts of Barcelona, ​​Spain, April 28, 2022. REUTERS/Nacho Doce Register now for FREE unlimited access to Register BARCELONA, July 29 (Reuters) – Spain’s Fluidra (FLUI.MC) said on Friday first-half net … Read more

US goods trade deficit, business spending data may salvage second-quarter GDP

Goods trade deficit drops 5.6% to $98.2 billion in June Wholesale inventories increased 1.9%; retail stocks up 2.0% Core capital goods orders rise 0.5%; shipments gain 0.7% WASHINGTON, July 27 (Reuters) – The US trade deficit in goods narrowed sharply in June as exports surged, while business spending on equipment remained strong, reducing the risk … Read more

Sales growth at Kering’s Gucci slows in Q2 as China weighs

Gucci products are displayed in the window of a store on Old Bond Street in London, Britain June 2, 2016. REUTERS/Neil Hall/File Photo Register now for FREE unlimited access to Register PARIS, July 27 (Reuters) – Sales at French luxury group Kering’s ( PRTP.PA ) top brand Gucci rose by just 4% in the … Read more