Home » Goods & Commodities

Mattel CEO Promises Growth Following Sales Slump

Mattel posted a drop in sales for the first quarter that was more than was expected, as U.S. as well as some retailers in Europe were left with too much inventory following a holiday shopping season that was muted. New CEO Margo Georgiadis said the company viewed its results for the first quarter as disappointing and was not reflective of what can be delivered by Mattel. Georgiadis has been the CEO since February after running the commercial operations for Google in the United States. Mattel addressed the majority of its inventory issues but work... 
 

Burberry Misses Estimates on Sales

Burberry Group Plc the luxury retailer based in the UK posted quarterly sales that missed estimates by analysts as a sales decline continues to accelerate in its Americas region and dropping revenue for Hong Kong showed how tough a task incoming CEO Marco Gobetti is facing. Retail revenue for the fourth quarter increased 2% related to comparable sales, said the company whose headquarters are in London. That amount was less than the estimated increase of 5%. Shares fell their most in the past six months upon the news. Sluggish sales growth at Burberry... 
 

Tesla Deliveries Set Record for One Quarter at 25,000

Tesla Inc., the U.S. electric car maker, announced on Sunday its vehicle deliveries for the first quarter had surged by 69% from the same period one year ago to set a record for one quarter of 25,000. Tesla said out of all the vehicles that had been delivered, close to 13,450 were its Model S sedan and 11,550 were its SUV Model X. The vehicle maker said it is expecting to deliver between 47,000 and 50,000 Models S and X combined during the first six months of 2017. During the fourth quarter of 2016, deliveries dropped 9.4% because of production... 
 

FedEx Comes Up Short on Earnings

Facing much higher costs despite transporting millions of packages during this past holiday season, FedEx missed expectations on Wall Street Tuesday for the quarter just ended. The three-month period included the majority of the 2016 holiday shopping and shipping season that included projected record setting days during December. Coming through at that time, which is a critical time for the company, CEO at FedEx Frederick Smith was pleased. However, analysts said that the company faced infrastructure and fuel costs that that were higher. An industry... 
 

Brazil Looks to Calm Fears Over Export and Sale of Meat

Brazilian president Michel Temer, who is confronting a huge corruption scandal that is tarnishing the country’s lucrative meat industry, on Sunday met with executives as well as foreign diplomats in an attempt to assuage the health concerns that are tarnishing a sector that represents $12 billion of Brazil’s exports annually. The meetings followed raids by Brazilian police Friday that are investigating whether companies were paying bribes to conceal conditions deemed unsanitary at meatpackers. Temer is working to protect one of the few sectors... 
 

Dollar General Increasing Pay, Lowering Price and Adding Perishable Goods

As its investors question if the footprint of Dollar General is becoming too large, the retailer must prove its new stores are not the only method of growing sales. To do that, the chain is doing things similar to Walmart. After another drop is sales growth across its established stores, Dollar General outlined on Thursday a strategy it says will drive the business moving forward. While its new plan includes another 1,000 stores in 2017, it incorporates investments that should increase performance at stores in existence. Dollar General knows it... 
 

Shares of Staples Fall After Earnings Come Up Short

Office supplies retailer Staples saw its shares drop on Thursday after posting a continued drop in sales of its traditional supplies such as printer ink and paper helping drag the company to a loss during its most recently ended quarter. For the quarter, that ended January 31, Staples posted total sales of $4.6 billion which were 3% less that for the same period one year ago. The company posted a net loss from its continued operations of $615 million equal to 94 cents per share. Analysts were expecting Staples to have a profit of 25 cents a share,... 
 

Opel Sold by General Motors to PSA

General Motors has sold Opel to the PSA Group in a deal that values Opel at €2.2 billion or $2.3 billion, said the carmaker on Monday. The sale creates another regional giant in carmakers that will challenge Volkswagen the current leader in the market. The maker of Citroen and Peugeot has vowed it will return Opel and Vauxhall its British brand to profitability. It targeted a 2% operating margin within the next three years and one of 6% before the start of 2026 underpinned by €1.7 million in cost savings between the two. Shares of PSA were up... 
 

China Becomes Germany’s Largest Trading Partner

In 2016, China for just the first time became the biggest trading partner of Germany. China overtook both the United States and France with the U.S. dropping to third place and France remaining in second indicated new data released on Friday. German exports to and imports from China increased in 2016 to over €170 billion equal to $180 billion, showed figures from the Federal Statistics Office. This development is likely welcomed by the government of Germany, which has put a goal of safeguarding global free trade following the threat by U.S. President... 
 

Household Debt Closing in on Levels of 2008

American households around the country are taking on more debt every day. Total debut for households increased at the end of last year to over $12.58 trillion. That represented an increase of more than $266 billion from the 2016 third quarter. This data came from a report released by the Federal Reserve Bank of New York. For the full year, debt in American households increased by more than $460 billion, its largest increase in nearly a decade. The current figures for debt load in American households are closing in on levels of 2008 when total debt... 
 

Reckitt Benckiser Paying $16.6 Billion for Mead Johnson

Reckitt Benckiser agreed to acquire Mead Johnson Nutrition, the maker of baby formula, based in the U.S. That takes the Britain-based consumer goods business into new territory and expands its presence across developing markets. Reckitt, which makes Durex condoms, Mucinex cold medicine and Lysol cleaners, said Friday it would pay $90 per share in cash for Mead Johnson. That represents a premium of 30% to the closing price of Mead on the day prior to Rickett announcing it was holding advanced talks with the Enfamil baby formula maker. Including the... 
 

Yum China Beats Expectations in First Earnings Report

Chinese fast-food company Yum China Holdings, which was spun off by its parent in the U.S. last October, topped expectations for earnings in its first quarterly results thanks to help from its expanding chain of KFC restaurants. The company’s profit was 17 cents per share, which excluded certain items in comparison to analyst expectations of 10 cents per share. Growth in sales at same stores for KFC gave results a boost, while its division of Pizza Hut did not perform as well as expected. The results indicate that Yum China has had a solid start... 
 

U.S. Company Leading Race to Buy Airbag Maker Takata

Takata is narrowing down a buyer from the United States to help it get through its huge recall crisis with airbags. The troubled firm, based in Japan, established an independent committee that recommended the takeover bid of Key Safety Systems based in Detroit, Takata said via a prepared statement. However, the airbag maker said that a final decision had not been made. Autoliv was another top bidder based in Sweden, but its bid was rejected because of concerns over antitrust problems. Key Safety Systems did not respond immediately to requests for... 
 

Amazon Will Spend Nearly $1.5 Billion on Air Cargo Hub

Amazon’s new investment, which could help to create over 2,000 new jobs, is just example of the company’s ambition to grow in logistics and shipping. The largest e-retailer in the world is planning to build its first air cargo hub in Hebron, Kentucky at Cincinnati/Northern Kentucky Airport for $1.49 billion, said company officials on Tuesday. The hub is scheduled to create as many as 2,700 jobs in the area. Amazon’s project will span 900 acres and would be the single largest investment ever by any business in northern Kentucky, said state... 
 

PepsiCo Plans for Super Bowl All About Water and No Calories

PepsiCo will water down its Super Bowl advertising. The beverage maker announced late Tuesday that its 30-second ad for Super Bowl LI will be for Lifewtr its new brand of premium bottle water. The spot is called Inspiration Drops and features a version of Love Me Now the song by John Legend. The use of the song was tailored to reflect the art direction of the ad and bring its imagery to life, said a prepared statement from PepsiCo. As announced previously, PepsiCo will use its sponsorship of the Super Bowl halftime show to plug its Pepsi Zero Sugar... 
 

McDonald’s Sells Majority of Hong Kong and China Business

McDonald’s Corp agreed on Monday to sell the bulk of its Hong Kong and China business to CITIC Ltd, a conglomerate that is state supported and Carlyle Group LP for $2.1 billion, as it seeks to expand quickly without using that much of its capital. The deal for 20 years caps a negotiation of months between private equity companies such as Carlyle and TPG Capital Management, McDonald’s and a number of other suitors in China. The fast food giant based in the U.S. said its local partners would help increase the speed of its growth in the No. 2 economy... 
 

J.C. Penney Sees Drop in Holiday Sales

The attack on retailers continued last this week when J.C. Penney Co posted a decline in sales at same-stores during the months of November and December, just the latest chain of department stores adding to the malaise in the retail sector as shoppers increasingly shun brick and mortar locations to shop online. Shares at J.C. Penney fell by 5.9% in early Friday trading, hitting the lowest price in the past seven months at $7.40 per share. The report by J.C. Penney came only one day after its biggest rivals Macy’s and Kohl’s said their sales... 
 

Weak Sales During Holiday Season Hit Macy’s and Kohl’s

More than 10,000 jobs will be cut by Macy’s and the department store chain detailed plans to shuttered dozens of its stores, following another poor holiday season for sales, providing additional evidence that the department store is no longer an integral part of American retailing. As with its rival Kohl’s, which warned on Wednesday of poor holiday sales as well, Macy’s has not solved the shift by the consumers to shopping online. Macy’s will shutter stores from Bangor, Maine to San Diego, California and use its savings to increase efforts... 
 

Hershey Names Michele Buck As New CEO

Hershey announced that Michele Buck an 11-year veteran with the company would be the next CEO and president of the chocolate maker, an appointment during a time when large food manufacturers are being challenged by startups that are much smaller. Buck is currently the company’s COO and will officially start as the top executive of the company March 1. She will succeed John Bilbrey who announced in October that he intended to retire in 2017 from the company. The maker of its namesake chocolate, Twizzlers and Reese’s said that the compensation... 
 

Retailers Stopping On-Call Scheduling

Six retailers in the U.S. will not require their hourly employees to check if they are needed for work and risk seeing shifts in their schedules cancelled at the last minute. On Tuesday, the announcement will be made by Eric Schneiderman the Attorney General of New York. The New York AG and his counterparts across seven states, including those in Illinois and California, have sent out letters to many companies over the past year requesting data about how they schedule. However, in those letters, officials said that workers could be harmed by schedules... 
 

Walmart Preparing for Last Minute Frenzy of Christmas Shoppers

Hoping for a smooth ride as the Christmas shopping seasonal rush comes to an end, Walmart is attempting to move more last minute shoppers over to its service of in-store pick up for orders online and push them to plan ahead. The world’s largest retailer on Tuesday said that shoppers could order an item through walmart.com up to 6 p.m. December 23 and would be able to pick it up at their choice of Walmart Supercenters anytime Christmas Eve the 24th. While Walmart has offered pick up in stores for a number of years, this marks the first year the... 
 

Michael Jordan Gains Ground on Getting His Name Back

Michael Jordan had gained ground in his long battle with a sportswear company in China over his name being used in the most populous country in the world. The former basketball superstar has been tied up in a legal battle for years with sports apparel maker Qiaodan Sports. Qiaodan is the name for Jordan in Chinese and the firm’s main logo is strikingly similar to the iconic image Air Jordan that Nike products use. The top court in China ruled Thursday that the sportswear maker based in China stop their use of two Chinese characters in Qiaodan.... 
 

McDonald’s Keeping As Much As 25% in Hong Kong and China Stores

McDonald’s Corp is trying to raise between $1 billion and $2 billion through the sale of its Hong Kong and China stores after the fast food giant based in the U.S. decided it would keep as much as a 25% minority stake, said a person who has knowledge of company plans. The company chose a consortium that is led by Carlyle Group LP a private equity business and CITIC Group Corp a conglomerate based in China to buy its stores and the decision to keep as much as 25% lowered the sale price from as much as $3 billion that was originally expected, said... 
 

Early Data from Cyber Monday Shows Sales Increasing Over 9%

While a steady stream of customers have been keeping retailers busy for a number of days thanks to discounts from holiday promotions, shoppers still took to Internet in large numbers for Cyber Monday. Early data shows that sales online for Monday November 28 were more than 9% higher than for Cyber Monday of last year. As of early Monday, over $540 million already had been spent for purchases online, according to tracking firm Adobe, whose software operates under many websites of retailers. While this special shopping day had reigned supreme for... 
 

Retailers Anticipating Strong Support for Small Business Saturday

The better known of the two may be Black Friday due to its huge deals but Small Business Saturday is a shopping day that puts its emphasis on community. Sponsored by American Express, Small Business Saturday takes place on the Saturday following Thanksgiving and focuses on supporting the small, local businesses in communities around the country. Small businesses that have been regular participants in the event said they have seen sales as well as foot traffic increase every year. Many small retailers around the country expect between 40% and 50%... 
 

European Union Car Sales in October Ended Flat

The new car market across the European Union was flat during October as demand dropped in the two largest countries of the bloc reported the Automobile Manufacturers Association or ACEA on Thursday. Total sales in the EU slightly exceeded 1.1 million, showed a statement released by the trade group that is based in Brussels, Belgium. That figure represented a slight drop of 0.02% in comparison to sales during October of 2015. In Germany, which is the largest car market in all of the EU, sales were down by over 5.6% finishing the month of October... 
 

Vodafone Takes Charge of $5 Billion Due to India Price War

Vodafone the telecoms group posted a net loss for the first six months of 2016 of €5 billion equal to $5.5 billion Tuesday after it wrote down its Indian business by $5 billion because of a price war starting due to a powerful rival entering the market. CEO Vittorio Colao announced that an improvement in markets across Europe was slightly ahead of company expectations with Germany and Italy leading the way, but competition intensified in India and would affect its cash flow there. The three largest telecoms in India’s mobile market are led by... 
 

McDonald’s Sales in U.S. Increase Amidst Competition

McDonald’s Corp has kept its turnaround on the right track during its most recent quarter despite an increase in competition across the U.S. The burger chain was aided by its all-day breakfast, its McPick value promotions and its Chicken McNuggets containing simpler ingredients, said company officials on Friday. U.S. restaurant sales at established locations increased 1.3% amidst softness across the industry that was partly blamed by executives on lower prices at the supermarket that helped to encouraged a certain number of diners to cook meals... 
 

U.S. Lifts Limits on Imports of Cuban Alcohol and Cigars

For a number of decades, Cuban cigars have been renowned for their intense flavor and difficulty in being obtained. The decade’s long embargo by the U.S. against Cuba has prevented Americans from returning with Cuban cigars, even if purchased while in other countries. Two years ago, limits were eased, but those returning could only bring back $100 worth of cigars. After the embargo became law in 1962, agents with U.S. customs began seizing cigars they were able to find in bags of travelers, calling it contraband. Some agents went as far as tearing... 
 

Coca Cola Acquiring Former SABMiller Africa Bottling Stake

Coca-Cola Co. on Monday announced that it would be exercising a clause of change of control, which gives it the right to acquire the former interest of SABMiller in Coca-Cola’s largest bottling company in Africa. This move takes place after Anheuser-Busch InBev on Monday closed on its SABMiller acquisition creating a behemoth in the beer industry with a huge footprint in Africa. As of the latter part of August, SABMiller held a stake of 54% in the bottling company Coca-Cola Beverages Africa, which handles 40% of the distribution of Coke volumes... 
 

Big Mac Not Known by Many Millennials

The Big Mac does not seem to be as big any longer. It is not about its size, but its popularity. One top franchisee with McDonald’s said in a memo, that was send to other franchisees during the summer, that the Big Mac is less relevant. One out of every five millennials, which is the core customer of the fast food industry, has tried McDonald’s flagship product, said the memo. Sales for hamburgers at U.S. restaurants for McDonald’s have been flat over the last couple of years. Prior to that, it had a growth rate of only 1% to 2% each year,... 
 

New Home Sales Plunge in August by 7.6%

New home sales pulled back during August, one month following a surge in sales to their highest level in over 9 years. In each region, activity dropped across the country with the exception of the West. Sales of new homes were down 7.6% in August to an adjusted annualized rate of just over 609,000, said the Commerce Department in a report released on Monday. Those numbers followed a July surge in sales that saw a 13.8% spurt to over 659,000, which was the fastest new home sales pace since October of 2007. Following the surge in July, analysts expected... 
 

General Mills Has Earnings Hit By Weak Sales of Yogurt

General Mills Inc posted sales that fell 7% during its most recent quarter, ending the three-month period at $3.9 million, due to a plunge in the United States of its Yoplait yogurt business as shoppers shift to brands that are Greek-style. General Mills, based in Minneapolis, has been struggling to keep abreast of the rapidly changing habits of eating of its customers, which have hurt brands like Cheerios cereal and cake mixes such as Betty Crocker. CEO Ken Powell recently prioritized the revamping of the cereal business in the U.S., by eliminating... 
 

Ford Pays $65 Million to Acquire Startup Chariot

Late last week, Ford Motors acquired Chariot a startup shuttle van company in a deal that was all cash. However, the price at the time of the deal was not disclosed, so it was not certain if the deal had been for a distressed startup being sold for a bargain price or if Ford paid a market price for a business that fits into its long term strategic plans. The automaker dished out $65 million for the company plus earn outs so employees who held stock options would be whole. The shuttle van startup raised just one round of funding of $3 million since... 
 

Drop in Prices of Food Pressures Distributors and Grocers

A continual slide in the price of food has put pressure on more U.S. distributors and grocers, weighing down their shares and prompting some to make revisions to their outlooks in earnings for the full year. Sprouts Farmers Market has cut its guidance for the quarter and 2016 due to significant deflation that is ongoing that its announced will likely not let up for a number of months. Shares at Sprouts, which is based in Arizona, fell by 14% to end trading on Wednesday at the price of $19.68, which is the lowest close for the company in over a year. Executives... 
 

Campbell Soup Weighed Down by Carrot Business

Campbell Soup Co posted an adjusted profit that was less than had been predicted due to a recalled product and higher costs as well as lower sales of its carrots. The company expects the same issues to dent sales the remainder of 2016. The largest soup maker in the world also released a full-year forecast for adjusted earnings that came up short of estimates on Wall Street, sending shares tumbling by over 6.5% to a low of over six months Thursday. The problems with the company, during the recently ended quarter centered on the Campbell Fresh business.... 
 

Abercrombie & Fitch Posts Drop in Sales for Quarter

Abercrombie & Fitch reported a drop in sales for its most recent quarter as well as releasing a cautious outlook for the rest of the year, as the retailer of apparel struggled to entice shoppers into its locations in malls. Abercrombie shares, which rose by over 20% the past year, dropped 11% in premarket trading on Tuesday. Sales at its locations open a minimum of 13 months will remain challenging during the second six months of the year, said a statement released by the company. In May, Abercrombie expected results to be better after making... 
 

Just Mayo Maker Under Inquiry

Prominent startup Hampton Creek that is attempting to bring the panache of the tech industry to ranch dressing, mayonnaise and other products is under scrutiny as regulators look into its business practices. A preliminary inquiry was opened by the Securities and Exchange Commission into startup Hampton Creek, says one person who was briefed on this situation, but asked that his name not be used publicly. The inquiry by the SEC came following a report that was recently released that described an organized Hampton Creek effort to buy large numbers... 
 

Target Corp Cuts Annual Forecast for Profit

During the just ended quarter, Target Corp posted sales at same-stores that fell and the retailer is expecting more declines that will hamper its turnaround. On Wednesday, Target Corp announced that its sales at its established locations were down for the first time in over two years while warning there would be additional declines, signs that the turnaround push by CEO Brian Cornell has now stalled. Target lowered its profit target for the year and warned that sales at same-stores would remain flat or drop up to 2% for the current fiscal year. Cornell... 
 

Home Depot Has 9.3% Increase in Profit from Latest Quarter

On Tuesday, Home Depot posted revenue and earnings that were mostly in line with estimates on Wall Street, as the largest retailer for home improvement in the world continued reaping the benefits of a strong U.S. housing market. The retailer reiterated as well its guidance for sales for the full year, while raising its forecast on earnings. Shares of Home Depot were unchanged during early premarket trading Tuesday morning. It is a strong quarter, but does not deliver on the upside that we have seen from the company the past couple of quarters, said... 
 

Michael Kors and Coach Hand Department Stores Another Setback

Department stores are already struggling as they face declining numbers of customers and on Tuesday and Wednesday were hit hard again by two brands that are considered big lures for department store shoppers. On Wednesday, Michael Kors announced it would lower the quantity of merchandise it sends to department stores. Coach, on Tuesday, said it was planning to pull purses and other products of its brand from 250 department stores or about 25% of brick and mortar locations. The two brands announced that the deep discounting that is now common amongst... 
 

Burger King Owner Same Store Sales Come Up Short

Despite getting a boost in sales from unique new products such as Mac ‘N Cheetos and Chicken Rings, Restaurant Brands International saw its sales in same stores come up short of expectations by analysts. The owner of Tim Hortons and Burger King posted earnings that reached 41 cents with revenue reaching $1.04 billion. The company had been expected by analysts to post earnings for the second quarter of approximately 35 cents per share with revenue reaching $1.05 billion. Revenues missed expectations by analysts for the second quarter primarily... 
 

McDonald’s Misses Expectations on Growth of Sales

McDonald’s Corp, the largest restaurant chain in the world posted sales growth for same stores that came up short of analyst expectations, which stoked concerned that the fast food industry in the U.S. was heading toward a recession. Sales at same-stores were up 3.1% globally, said the company based in Oak Brook, Illinois. Analysts however were expecting an increase of 3.6%. Analysts have raised some concern that restaurants could be hitting a downturn, which is a harbinger for a broad slump in the economy in the U.S. for 2017. Rivals in fast... 
 

PepsiCo Beats Wall Street on Profit With Help from Frito Lay

PepsiCo posted profit for the second quarter that topped expectations on Wall Street as the company slashed its costs and sold more snacks from Frito Lay than it expected. The company raised its earnings outlook for the full-year, which helped give a boost to its shares during premarket trading on Thursday. PepsiCo stock was trading 2% higher prior to the opening bell. The company announced that revenue from its North American Frito-Lay unit increased due to stronger volume of sales and pricing. The beverage unit in North America, which includes... 
 

Chipotle Giving Away Food to Win Customers Back

Chipotle Mexican Grill hopes that some free food will help them to win back some valued customers. The chain will launch its Chiptopia promotion for the summer beginning Friday that will reward customers for the number of times they visit. At the lowest level, diners who buy either four burritos or four other entrees will get the fifth free. The promotion was not aimed so much at luring in new customers but inducing the better patrons of the chain to return on a more regular basis. This is about getting customers who used to eat the most frequent... 
 

Rite Aid Posts Sales and Profit That Miss

Drugstore chain Rite Aid said reductions in drug costs would be short of their expectations in the short term. Rite Aid Corp, posted sales and earnings that disappointed for its just ended first quarter amidst pressure from pharmacy reimbursement rates. This week the company said it was not able to offset the pressure due in large part to efficiencies in drug purchasing that did not reach expectations, John Standley the CEO said. Standley added that the drug cost reductions would continue to remain short of expectations of the company during the... 
 

Consumer Prices Rise as Rents Move Up in U.S.

The U.S. cost of living excluding fuel and food rose during May, driven by the rising costs of rent. The core measure as it is called of the consumer price index was up 0.25 during May, the same as it was during April, a report on Thursday from the Labor Department showed. The broader overall measure of consumer prices was higher as well by 0.2%. Policy makers in the Federal Reserve project a strengthening of demand as well as more stable costs of energy and less appreciation of the U.S. dollar will give more businesses the opportunity to regain... 
 

Retail Sales: Higher Increase Than Forecasted as Consumers Spend

In May, retail sales increased more than had been forecasted, showing that consumer spending will give a boost to economic growth during the second three months of 2016. The increase of 0.5% in purchases comes after a jump of 1.3% in April that was the largest gain in almost one year, showed figures released on Tuesday by the U.S. Commerce Department in Washington. The average forecast by economists projected an increase of 0.3%. Excluding purchases of gasoline and autos, sales were up 0.3%. Steady increase in consumption helps give acceleration... 
 

TAG Heuer CEO: Watchmaker Pushing into China

On Saturday, the CEO of LVMH’s Swiss luxury watchmaker said the company was pushing the brand TAG Heuer in China, as its rivals pull back their investment in the most populous country in the world due to demand becoming weaker. Jean-Claude Biver the Chief Executive Officer of TAG Heuer said the company was pushing hard especially at the current time, much more that before due to all the other brands scaling back their investments in the country. He added that it meant their investment would now become much stronger. TAG has just minimal exposure... 
 

Signet Shares Drop As Report Alleges Diamond Swapping

Signet Jewelers the operator of Jared, Kay and Zales said it strongly objected to the allegations. Signet Jewelers shares dropped on Friday reaching a weeklong drop of 12% amidst reports that have questioned its customers’ credit quality and alleged that some employees at Signet replaced premium diamonds with less expensive substitutes that were manmade. In a prepared statement released Friday, the jeweler said it strongly objects to the recent allegations that have appeared on social media that claimed the company members had systematically mishandled... 
 
© 2006-2017 Ticker Report. Google+.