Lululemon raises full-year forecasts, unaffected by inflation, China curbs
Lululemon Athletica (LULU.O) on Thursday raised its full-year revenue and profit forecasts on strong demand for athleisure, and said the impact from COVID-19-related lockdowns in China was modest and more than offset by strength in other regions. Affluent U.S. customers have been helping the premium sportswear maker sustain the sales momentum it attained during the peak of…
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Grubhub Customers Learn There’s No Such Thing as a Free Lunch After All
Derived from M Science’s leading-edge data, the new platform provides daily, weekly, monthly and semi-annual visibility into competitive benchmarking and consumer behaviours. The new platform details customer spending patterns for more than 130 Global and Domestic Australian brands, including food delivery services, grocery stores, DTC platforms, sports betting and travel agencies. Companies include Just Eat,…
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Alibaba, Baidu Jump in US as China Vows Support for Tech
Chinese internet stocks jumped in US trading after a senior Communist Party official reaffirmed support for the industry, stoking optimism that regulators may ease a yearlong clampdown. The Nasdaq Golden Dragon China Index climbed 5.2% to its highest level in about two weeks. E-commerce giant Alibaba Group Holding Ltd. rose 6.4% while search engine operator…
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Royal Caribbean signals slow summer demand in Europe as Ukraine crisis weighs
Royal Caribbean Group (RCL.N) on Thursday flagged slow summer demand for European cruises due to the Ukraine crisis, after a dull first quarter as it reeled under a resurgence in COVID infections in some parts of the world. Shares of the cruise operator fell about 5% to $73.87 after Royal Caribbean Group said higher fuel…
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Domino’s expects sales pressure to persist after drop in first quarter
Domino’s Pizza Inc (DPZ.N) missed quarterly sales estimates on Thursday and warned staffing shortages and inflation would pressure its business further into the year, sending the fast-food chain’s shares down 5%. U.S. restaurants have struggled to keep their workers from leaving for higher-paying jobs, with Domino’s even offering consumers a $3 coupon code for picking…
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Hertz Shares Slide as Rebound in Business Travel Proves Elusive
Hertz Global Holdings Inc. reported a profit of 87 cents a share, beating analyst estimates of 80 cents amid a rebound in leisure trips, but investors remain wary of the slow return of corporate travel and sustainability of pricing gains. Hertz, which emerged from bankruptcy in October, said first-quarter revenue of $1.8 billion was up…
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