Polis

Polis is a platform designed to manage door-to-door sales and cause-based canvassing. The company’s application identifies the best prospects and uses that data to create a route for canvassers and salespeople doing outreach in a given area. Polis says their data is derived from 1,000-plus variables, including demographics, values, emotional sentiments, opinions and behavior. Top investors include Haystack VC and Initialized Capital.


Polis is a platform designed to manage door-to-door sales and cause-based canvassing.
The company’s application identifies the best prospects and uses that data to create a route for canvassers and salespeople doing outreach in a given area.
Polis says their data is derived from 1,000-plus variables, including demographics, values, emotional sentiments, opinions and behavior.
Top investors include Haystack VC and Initialized Capital.
Polis Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: cnbccom staff
Keywords: news, cnbc, companies, uses, sentiments, route, salespeople, variables, data, sales, values, polis


Polis

Polis is a platform designed to manage door-to-door sales and cause-based canvassing. The company’s application identifies the best prospects and uses that data to create a route for canvassers and salespeople doing outreach in a given area. Polis says their data is derived from 1,000-plus variables, including demographics, values, emotional sentiments, opinions and behavior. Top investors include Haystack VC and Initialized Capital.


Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: cnbccom staff
Keywords: news, cnbc, companies, uses, sentiments, route, salespeople, variables, data, sales, values, polis


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Los Angeles Rams star Aaron Donald takes an ownership stake in Ready Nutrition sports drink company

Aaron Donald #99 of the Los Angeles Rams walks off the field following the Rams’ 17-12 loss to the Pittsburgh Steelers at Heinz Field on November 10, 2019 in Pittsburgh, Pennsylvania. Los Angeles Rams star Aaron Donald is expanding his playbook off the field, taking an ownership stake in Ready Nutrition — a Pennsylvania-based startup that makes protein-infused sports drinks, protein powder and snacks. According to Ready Nutrition, products are available in over 8,000 outlets across the country,


Aaron Donald #99 of the Los Angeles Rams walks off the field following the Rams’ 17-12 loss to the Pittsburgh Steelers at Heinz Field on November 10, 2019 in Pittsburgh, Pennsylvania.
Los Angeles Rams star Aaron Donald is expanding his playbook off the field, taking an ownership stake in Ready Nutrition — a Pennsylvania-based startup that makes protein-infused sports drinks, protein powder and snacks.
According to Ready Nutrition, products are available in over 8,000 outlets across the country,
Los Angeles Rams star Aaron Donald takes an ownership stake in Ready Nutrition sports drink company Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: jabari young
Keywords: news, cnbc, companies, wants, rams, takes, stake, los, ready, nutrition, million, donald, ownership, pittsburgh, drink, sales, cavanaugh, star


Los Angeles Rams star Aaron Donald takes an ownership stake in Ready Nutrition sports drink company

Aaron Donald #99 of the Los Angeles Rams walks off the field following the Rams’ 17-12 loss to the Pittsburgh Steelers at Heinz Field on November 10, 2019 in Pittsburgh, Pennsylvania.

Los Angeles Rams star Aaron Donald is expanding his playbook off the field, taking an ownership stake in Ready Nutrition — a Pennsylvania-based startup that makes protein-infused sports drinks, protein powder and snacks.

Donald, 28, met founder and President Pat Cavanaugh through the defensive tackle’s Pittsburgh-based foundation AD99 Solutions. Both men also attended the University of Pittsburgh where Donald was an All-American athlete and Cavanaugh played football and basketball more than two decades earlier.

“I’ve looked at hundreds of brand partnerships over the past couple years and have found very few that match my standards and interests in making a difference in a global community,” Donald said in a statement. “The fact that Pat, also a Pitt guy, shares the same mindset about hard work and helping others, and runs the business with that mindset every day, made Ready the perfect fit for me.”

Ready Nutrition, which was founded in 2012 and is based outside of Iron City, is poised to eclipse $100 million in total sales next year and is generating double-digit annual sales growth, Cavanaugh said.

“Our sales are, what we feel, are significant and are growing as we get larger, they are accelerating more. A lot of companies, when they get bigger, that growth percentage slows down, we’re accelerating,” Cavanaugh said, declining to provide specific details.

Terms of the investment weren’t disclosed, but is Donald is taking a small stake in the company as a growth investor that will rise over time along with the value of the company, according to someone familiar with the deal.

The company produces all-natural, organic sports nutrition products, including protein bars, powders, and most notably, its protein water. According to Ready Nutrition, products are available in over 8,000 outlets across the country, including Sam’s Club, online via Amazon and at athletic teams at more than 200 universities. Ready Nutrition is also the “official sports nutrition brand” of four NCAA division 1 conferences: Atlantic 10, Big Sky, Conference USA, and Southland Conference.

The fitness drink industry has attracted other top athletes as investors. Retired Los Angeles Lakers star player Kobe Bryant reportedly invested $6 million to take a 10% stake in Bodyarmor in 2014 that was reportedly worth more than $200 million last year, according to ESPN.

Ready Nutrition is trying to attract even younger athletes, “which we define as high school and down,” Cavanaugh said.

Cavanaugh said the plan is to connect to the company’s core message through Donald’s personal story that “he’s heard his whole life up until he made it to the league, which was too small, too slow, not being quick enough … We want to use him and say, ‘OK, I don’t care if you’re an All-American or what your level is right now, you can control how you’re going to move forward, and you can do it this way.'”

Donald, who will earn roughly $9.1 million for the 2019 season, signed a six-year, $135 million extension with the Rams in 2018. He’s currently third on the team with 5.5 sacks this season, and spent his bye week in the Pittsburgh area to work on Ready Nutrition’s marketing plan.

“You don’t see too many guys doing that,” Cavanaugh said of Donald. “He wants to be involved with the brand beyond using the product, which he has been. He wants to get into the weeds. He’s a guy that likes to understand the business and at the end of the day. He wants to help the product. He wants to talk to the kids,” Cavanaugh said.


Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: jabari young
Keywords: news, cnbc, companies, wants, rams, takes, stake, los, ready, nutrition, million, donald, ownership, pittsburgh, drink, sales, cavanaugh, star


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Tyson Foods earnings miss forecasts as slaughterhouse fire hurts beef sales

A package of Tyson Foods Inc. Tyson Foods fell short of Wall Street estimates for quarterly revenue and profit on Tuesday after a fire at a Kansas slaughterhouse hurt sales volumes in its beef business, the company’s biggest segment. As a result, volumes in Tyson’s business fell 4.2% in the fourth quarter to Sept. 28, with sales down 1.3%. Still, profit margins for U.S. beef processors set record highs after the fire as beef prices climbed. Net income attributable to Tyson fell to $369 million,


A package of Tyson Foods Inc.
Tyson Foods fell short of Wall Street estimates for quarterly revenue and profit on Tuesday after a fire at a Kansas slaughterhouse hurt sales volumes in its beef business, the company’s biggest segment.
As a result, volumes in Tyson’s business fell 4.2% in the fourth quarter to Sept. 28, with sales down 1.3%.
Still, profit margins for U.S. beef processors set record highs after the fire as beef prices climbed.
Net income attributable to Tyson fell to $369 million,
Tyson Foods earnings miss forecasts as slaughterhouse fire hurts beef sales Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-12
Keywords: news, cnbc, companies, margins, beef, volumes, miss, earnings, pork, forecasts, hurts, slaughterhouse, million, sales, tyson, fell, share, foods


Tyson Foods earnings miss forecasts as slaughterhouse fire hurts beef sales

A package of Tyson Foods Inc. Ballpark brand hotdogs are arranged for a photograph in Tiskilwa, Illinois.

Tyson Foods fell short of Wall Street estimates for quarterly revenue and profit on Tuesday after a fire at a Kansas slaughterhouse hurt sales volumes in its beef business, the company’s biggest segment.

Shares of the maker of Ball Park hotdogs and Jimmy Dean sausages fell about 4% before the opening bell. They have gained nearly 55% this year.

Tyson grappled with the fire as the global meat industry focused on increasing sales China, where an outbreak of a fatal pig disease has slashed pork production.

U.S. producers have been hampered due to tariffs imposed by Beijing as part of the countries’ trade war.

The fire at the Holcomb, Kansas, slaughterhouse in August left restaurants, food service companies, and grocery chains scrambling to buy beef from other facilities.

As a result, volumes in Tyson’s business fell 4.2% in the fourth quarter to Sept. 28, with sales down 1.3%. The fire also resulted in $31 million of net incremental costs, the company said.

Still, profit margins for U.S. beef processors set record highs after the fire as beef prices climbed.

At the same time, cattle prices tanked because the fire temporarily eliminated a key buyer of livestock, prompting a U.S. government investigation into the market.

Tyson’s operating margins for beef were 9.7%, up from 8.9% a year earlier. Margins declined in its pork, chicken and prepared foods units.

Excluding items, the company earned $1.21 per share, compared with the average analyst estimate of $1.29, according to IBES data from Refinitiv.

Total sales rose nearly 9% to $10.88 billion on strength in its pork and chicken segments, but missed the average estimate of $11 billion.

Net income attributable to Tyson fell to $369 million, or $1.01 per share, in the fourth quarter to Sept. 28, from $537 million, or $1.47 per share, a year earlier.


Company: cnbc, Activity: cnbc, Date: 2019-11-12
Keywords: news, cnbc, companies, margins, beef, volumes, miss, earnings, pork, forecasts, hurts, slaughterhouse, million, sales, tyson, fell, share, foods


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Alibaba breaks Singles Day record of more than $30 billion in sales and climbing

Chinese e-commerce giant Alibaba set a new sales record on Singles Day, the world’s largest 24-hour shopping event. Gross merchandise value (GMV), a figure that shows sales across Alibaba’s various shopping platforms, surpassed last year’s 213.5 billion yuan record (nearly $30.5 billion) on Monday afternoon local time, and kept rising through the rest of the day. It was the 11th edition of the annual Singles Day event — also called the Double 11 shopping festival because it falls on Nov. 11. Ali


Chinese e-commerce giant Alibaba set a new sales record on Singles Day, the world’s largest 24-hour shopping event.
Gross merchandise value (GMV), a figure that shows sales across Alibaba’s various shopping platforms, surpassed last year’s 213.5 billion yuan record (nearly $30.5 billion) on Monday afternoon local time, and kept rising through the rest of the day.
It was the 11th edition of the annual Singles Day event — also called the Double 11 shopping festival because it falls on Nov. 11.
Ali
Alibaba breaks Singles Day record of more than $30 billion in sales and climbing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: arjun kharpal
Keywords: news, cnbc, companies, climbing, breaks, platforms, alibaba, ecommerce, sales, shopping, help, singles, record, event, billion, day


Alibaba breaks Singles Day record of more than $30 billion in sales and climbing

Chinese e-commerce giant Alibaba set a new sales record on Singles Day, the world’s largest 24-hour shopping event.

Gross merchandise value (GMV), a figure that shows sales across Alibaba’s various shopping platforms, surpassed last year’s 213.5 billion yuan record (nearly $30.5 billion) on Monday afternoon local time, and kept rising through the rest of the day.

It was the 11th edition of the annual Singles Day event — also called the Double 11 shopping festival because it falls on Nov. 11. During the 24-hour period, which began at midnight in Singapore and Hong Kong, Alibaba offered huge discounts across its e-commerce sites such as Tmall.

Alibaba’s Singles Day sales last year exceeded the spending by consumers during any single U.S. shopping holiday such as Black Friday or Cyber Monday.

To help boost sales, Alibaba expanded the number of discounted items available in this year’s event and put a heavy emphasis on livestreaming via its platforms to help sell goods. Live streaming has become a big part of the shopping experience on Chinese e-commerce sites.

Online personalities often speak to their followers and talk about products as well. On Wednesday, Kim Kardashian did a livestream announcing her fragrance brand KKW will be available for sale on Tmall.


Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: arjun kharpal
Keywords: news, cnbc, companies, climbing, breaks, platforms, alibaba, ecommerce, sales, shopping, help, singles, record, event, billion, day


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5 things to know before the stock market opens Monday

Drew Angerer |Getty ImagesU.S. stock futures were pointing to a lower open on Monday on Veterans Day. Alibaba’s Singles Day hit sales recordA screen shows the gross merchandise volume, a measure of sales, after 12 minutes 49 seconds of Singles Day sales, as it reaches about 7,147,554,107 USD in Hangzhou in China’s eastern Zhejiang province early on November 11, 2019. AFP | Getty ImagesChinese e-commerce giant Alibaba set a new sales record on Singles Day, the world’s largest 24-hour shopping eve


Drew Angerer |Getty ImagesU.S. stock futures were pointing to a lower open on Monday on Veterans Day.
Alibaba’s Singles Day hit sales recordA screen shows the gross merchandise volume, a measure of sales, after 12 minutes 49 seconds of Singles Day sales, as it reaches about 7,147,554,107 USD in Hangzhou in China’s eastern Zhejiang province early on November 11, 2019.
AFP | Getty ImagesChinese e-commerce giant Alibaba set a new sales record on Singles Day, the world’s largest 24-hour shopping eve
5 things to know before the stock market opens Monday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: matthew j belvedere
Keywords: news, cnbc, companies, card, market, apple, day, york, things, dimon, opens, getty, uber, credit, singles, stock, know, sales


5 things to know before the stock market opens Monday

1. Dow faces pressure at open

Traders and financial professionals work on the floor of the New York Stock Exchange (NYSE) at the closing bell on October 2, 2019 in New York City. Drew Angerer |Getty Images

U.S. stock futures were pointing to a lower open on Monday on Veterans Day. Stocks on Wall Street trade on a normal schedule, but the bond market is closed for the holiday. The Dow Jones Industrial Average, S&P 500 and Nasdaq all finished at record highs again Friday. In the week ahead, President Donald Trump speaks Tuesday during an Economic Club of New York luncheon. Federal Reserve Chairman Jerome Powell appears on Capitol Hill on Wednesday and Thursday. House Democrats open public impeachment hearings this week. However, markets have so far ignored the process and see a conviction of the president by the Republican-controlled Senate as unlikely.

2. Alibaba’s Singles Day hit sales record

A screen shows the gross merchandise volume, a measure of sales, after 12 minutes 49 seconds of Singles Day sales, as it reaches about 7,147,554,107 USD in Hangzhou in China’s eastern Zhejiang province early on November 11, 2019. AFP | Getty Images

Chinese e-commerce giant Alibaba set a new sales record on Singles Day, the world’s largest 24-hour shopping event. Gross merchandise value, a figure that shows sales across Alibaba’s various shopping platforms, surpassed last year’s nearly $30.5 billion Monday afternoon local time, and kept rising through the rest of the day. Pop star Taylor Swift played songs from her new album “Lover” to open the event. Singles Day, 11/11, has its origins as an unofficial holiday started by Chinese college students getting together to celebrate being single. Alibaba started offering discounts to singles in 2009 and it took off and became a global online shopping phenomenon.

3. Goldman Sachs’ Apple Card under scrutiny

Source: Apple

The New York Department of Financial Services is launching an investigation into the credit card practices of Goldman Sachs after a tech entrepreneur accused the bank’s Apple Credit Card algorithm of discriminating against women when determining credit card limits. David Heinemeier Hansson, creator of website builder software Ruby on Rails, condemned Apple Card for providing him a credit limit that is 20 times higher than his wife, even though the couple files joint tax returns and his wife has a higher credit score. Hansson’s tweet went viral and got a comment from Apple co-founder Steve Wozniak, who alleged that Apple Card gave him 10 times the credit limit that his wife received.

4. Dimon faces questions about US wealth gap

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., gestures while speaking during a Bloomberg Television interview at the JPMorgan Global Markets Conference in Paris, France, on Thursday, March 14, 2019. Christopher Morin | Bloomberg | Getty Images

The growing wealth gap separating the rich from the rest of the U.S. is an issue that needs to be resolved, J.P. Morgan Chase CEO Jamie Dimon told CBS’ “60 Minutes” in an interview that aired Sunday. Dimon also deflected questions about his $31 million in compensation in 2018. He said J.P. Morgan’s board sets his salary. “I have nothing to do with it,” he said, and reiterated there are solutions to income inequality, such as changing the minimum wage and lowering taxes for the poor and the middle class.

5. Uber CEO regrets comments he made about murdered journalist

Dara Khosrowshahi, chief executive officer of Uber Technologies Inc., speaks during an interview in Tokyo, Japan, on Wednesday, July 3, 2019. Akio | Bloomberg | Getty Images

Uber CEO Dara Khosrowshahi expressed regret for describing the murder of journalist Jamal Khashoggi as a “mistake.” Khosrowshahi made his original remarks to “Axios on HBO” TV series. Referring to the government of Saudi Arabia, the Uber chief told the show, “I think that government said that they made a mistake.” Asked by CNBC for comment, an Uber representative pointed to Khosrowshahi’s statement to Axios expressing regret for the language he used on the show. “I said something in the moment that I do not believe. When it comes to Jamal Khashoggi, his murder was reprehensible and should not be forgotten or excused,” according to the statement.


Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: matthew j belvedere
Keywords: news, cnbc, companies, card, market, apple, day, york, things, dimon, opens, getty, uber, credit, singles, stock, know, sales


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Stocks making the biggest moves after hours: DXC Technology, Reata Pharmaceuticals and Grocery Outlet

Check out the companies making headlines after the bell:Shares of DXC Technology plunged 17% during extended trading after the IT company reported second quarter earnings. DXC posted adjusted earnings of $1.38 per share, which represents a nearly 32% decrease from the same quarter a year ago. Grocery Outlet shares spiked nearly 8% after the company raised its full year earnings, same store sales and adjusted EBITDA guidance. Grocery Outlet expects same store sales growth of approximately 4.9%, e


Check out the companies making headlines after the bell:Shares of DXC Technology plunged 17% during extended trading after the IT company reported second quarter earnings.
DXC posted adjusted earnings of $1.38 per share, which represents a nearly 32% decrease from the same quarter a year ago.
Grocery Outlet shares spiked nearly 8% after the company raised its full year earnings, same store sales and adjusted EBITDA guidance.
Grocery Outlet expects same store sales growth of approximately 4.9%, e
Stocks making the biggest moves after hours: DXC Technology, Reata Pharmaceuticals and Grocery Outlet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: ganesh setty
Keywords: news, cnbc, companies, making, company, earnings, million, store, pharmaceuticals, dxc, stocks, outlet, reata, share, technology, cents, hours, shares, quarter, sales, adjusted, grocery, moves


Stocks making the biggest moves after hours: DXC Technology, Reata Pharmaceuticals and Grocery Outlet

Check out the companies making headlines after the bell:

Shares of DXC Technology plunged 17% during extended trading after the IT company reported second quarter earnings. DXC posted adjusted earnings of $1.38 per share, which represents a nearly 32% decrease from the same quarter a year ago. Revenue came in at $4.85 billion, a 3.2% decrease compared to the same period last year. DXC’s shares are down approximately 45% year to date.

Grocery Outlet shares spiked nearly 8% after the company raised its full year earnings, same store sales and adjusted EBITDA guidance. The supermarket company expects adjusted diluted earnings between 73 cents and 74 cents per share, up from its prior range of 68 cents to 71 cents per share. Grocery Outlet expects same store sales growth of approximately 4.9%, exceeding its prior range of 3% to 4%. The company expects adjusted EBITDA between $167 million and $168 million, also up from its prior range of $162 million to $165.5 million.

In its third quarter, the company posted a same store sales increase of 5.8% and a net sales increase of 13.1%, amounting to $652.5 million. Adjusted EBITDA came in at $44.2 million, representing a 13.2% increase compared to the same quarter a year ago.

Reata Pharmaceuticals shares tanked nearly 8% after the bell following the company’s announcement of promising test results of its drug treating patients with chronic kidney disease. Based on the positive results, Reata said it plans to go forward with seeking regulatory approval for marketing the drug both domestically and internationally. Reata’s shares are up approximately 280% year to date.


Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: ganesh setty
Keywords: news, cnbc, companies, making, company, earnings, million, store, pharmaceuticals, dxc, stocks, outlet, reata, share, technology, cents, hours, shares, quarter, sales, adjusted, grocery, moves


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Inflation, retail sales, and other news affecting your money in the week ahead

Inflation likely to remain below Fed’s targetWhat’s happening: Two inflation reports are scheduled for release in the week ahead. Economists forecast slight increase in consumer spendingWhat’s happening: The monthly retail sales report for October is scheduled for release Friday. Economists currently forecast a slight increase in spending, after retail sales fell for the first time in seven months in September. They track the monthly retail sales report closely because consumer spending accounts


Inflation likely to remain below Fed’s targetWhat’s happening: Two inflation reports are scheduled for release in the week ahead.
Economists forecast slight increase in consumer spendingWhat’s happening: The monthly retail sales report for October is scheduled for release Friday.
Economists currently forecast a slight increase in spending, after retail sales fell for the first time in seven months in September.
They track the monthly retail sales report closely because consumer spending accounts
Inflation, retail sales, and other news affecting your money in the week ahead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-09  Authors: anna-louise jackson
Keywords: news, cnbc, companies, services, sales, prices, spending, consumer, week, money, ahead, release, scheduled, retail, inflation, affecting, report


Inflation, retail sales, and other news affecting your money in the week ahead

Inflation likely to remain below Fed’s target

What’s happening: Two inflation reports are scheduled for release in the week ahead. Wednesday’s measures the average change in consumer prices, or what you pay for various goods and services, including food and housing. Thursday’s report focuses on the other side, the producers, and the average change in prices these companies set for the products they sell. Economists currently project both measures increased in October compared with September. Why it matters: The Federal Reserve is tasked with keeping prices in check and closely tracks changes in prices for goods and services. They monitor a measure that excludes food and energy, which tend to have more wild price swings. While the Fed’s preferred measure is different than the two scheduled for release in the week ahead, all three show that inflation remains below the central bank’s long-term target of 2%. Policymakers have cut interest rates three times this year, citing inflation as a factor. Even so, inflation has yet to pick up materially; as of September it’s increasing at an annual rate of 1.7%, compared with a pace of 1.5% in May. What it means for you: When prices go up, our dollars don’t stretch as far when we’re buying groceries or paying for services. The Fed closely monitors changes in the cost of living to decide whether further rate cuts are warranted. Traders don’t see a greater than 20% chance of another such cut until at least March 2020.

Economists forecast slight increase in consumer spending

What’s happening: The monthly retail sales report for October is scheduled for release Friday. This details how much American consumers spent on things like clothing and food. Economists currently forecast a slight increase in spending, after retail sales fell for the first time in seven months in September. Even so, a report from the Federal Reserve showed that consumers are borrowing less money via revolving credit, like credit cards. This amount fell in September for the second straight month, the first consecutive declines since 2012. Why it matters: Even amid signs of slowing in the broader economy, consumer spending has held up so far — but some people on Wall Street are worried that may change. They track the monthly retail sales report closely because consumer spending accounts for more than two-thirds of U.S. economic growth. What it means for you: Perhaps you haven’t made any changes to your shopping habits, but what your neighbors do matters to the overall economy. What’s more, the all-important holiday shopping season is here. Spending between November 1 to December 31 accounts for about 20% of annual retail sales each year, and holiday sales are expected to increase about 4% compared with 2018, according to the National Retail Federation.

The bottom line


Company: cnbc, Activity: cnbc, Date: 2019-11-09  Authors: anna-louise jackson
Keywords: news, cnbc, companies, services, sales, prices, spending, consumer, week, money, ahead, release, scheduled, retail, inflation, affecting, report


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Gap’s Old Navy spinoff plans in doubt with CEO Art Peck out

Traffic passes by an Old Navy and GAP stores in Times Square, March 1, 2019 in New York City. Gap Inc.’s plans to spin off its once-star Old Navy brand are being called into question with the ouster of CEO Art Peck. With Peck’s abrupt departure, analysts are doubting a looming split of Old Navy and Gap will go through, especially with the Old Navy brand in such poor shape. Until recently, Old Navy had been the star of Gap’s portfolio, bringing in about $8 billion in annual sales. “With the CEO d


Traffic passes by an Old Navy and GAP stores in Times Square, March 1, 2019 in New York City.
Gap Inc.’s plans to spin off its once-star Old Navy brand are being called into question with the ouster of CEO Art Peck.
With Peck’s abrupt departure, analysts are doubting a looming split of Old Navy and Gap will go through, especially with the Old Navy brand in such poor shape.
Until recently, Old Navy had been the star of Gap’s portfolio, bringing in about $8 billion in annual sales.
“With the CEO d
Gap’s Old Navy spinoff plans in doubt with CEO Art Peck out Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: lauren thomas
Keywords: news, cnbc, companies, ceo, planned, apparel, options, spinoff, old, navy, gap, spin, plans, doubt, think, gaps, peck, sales, art


Gap's Old Navy spinoff plans in doubt with CEO Art Peck out

Traffic passes by an Old Navy and GAP stores in Times Square, March 1, 2019 in New York City.

Gap Inc.’s plans to spin off its once-star Old Navy brand are being called into question with the ouster of CEO Art Peck.

The San Francisco-based apparel retailer announced Thursday evening that Peck has stepped down from the position he had held since 2015. Peck has been replaced temporarily by Robert Fisher, son of Gap’s founders Donald and Dorothy Fisher.

With Peck’s abrupt departure, analysts are doubting a looming split of Old Navy and Gap will go through, especially with the Old Navy brand in such poor shape.

Gap shares were down 7% Friday morning. The stock as of Thursday’s market close had tumbled nearly 30% this year. Gap is valued at roughly $6.9 billion.

The company announced in February it planned to split Gap into two publicly traded companies — Old Navy and Gap, which would still have been led by Peck and would include Banana Republic and athletic performance brands Athleta and Hill City. The separation had been scheduled to be completed next year.

Until recently, Old Navy had been the star of Gap’s portfolio, bringing in about $8 billion in annual sales. It has been successful at offering basic apparel like white tees, jeans and logo hoodies at lower prices, rivaling the likes of T.J. Maxx and Ross Stores.

Today’s shoppers have countless options for finding less-expensive apparel online and at fast-fashion players like H&M, which recently reported a return to sales growth. Shopping at second-hand merchants and clothing rental options are also cutting into apparel sales.

Gap said Thursday that same-store sales fell 4% companywide in the third quarter, including a disappointing 4% drop at Old Navy.

“We have to think this new development will make the original timeline of the planned Old Navy separation extremely difficult,” Evercore ISI analyst Omar Saad said in a note to clients.

“An already skeptical market is going to have a hard time embracing [a] fundamentally challenged Gap/Banana Republic combination without a leader and clearly articulated turnaround plan,” he added.

“What about the spin?!” RBC Capital Markets analyst Kate Fitzsimons said. “With the CEO departure, while there is no update on the Old Navy spin planned for 2020, we think the board may be re-evaluating their options.”


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: lauren thomas
Keywords: news, cnbc, companies, ceo, planned, apparel, options, spinoff, old, navy, gap, spin, plans, doubt, think, gaps, peck, sales, art


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More US retailers set to participate in Alibaba’s Singles’ Day shopping extravaganza this year

And as the Chinese retail giant has courted more brands to participate, retailers around the world are bracing for the biggest shopping event of the year. Alibaba’s Singles’ Day debuted on Nov. 11, 2009, as a day for those people not in romantic relationships to celebrate themselves by shopping online. Alibaba’s Single’s Day in 2018 did over $30 billion, and that number is expected to grow. Trade tensions between the U.S. and China could hit American brands participating in Singles’ Day this yea


And as the Chinese retail giant has courted more brands to participate, retailers around the world are bracing for the biggest shopping event of the year.
Alibaba’s Singles’ Day debuted on Nov. 11, 2009, as a day for those people not in romantic relationships to celebrate themselves by shopping online.
Alibaba’s Single’s Day in 2018 did over $30 billion, and that number is expected to grow.
Trade tensions between the U.S. and China could hit American brands participating in Singles’ Day this yea
More US retailers set to participate in Alibaba’s Singles’ Day shopping extravaganza this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: lauren thomas
Keywords: news, cnbc, companies, retailers, singles, brands, shopping, participate, billion, chinese, day, alibabas, china, event, set, sales, extravaganza


More US retailers set to participate in Alibaba's Singles' Day shopping extravaganza this year

Alibaba CEO Daniel Zhang speaks in front of a screen showing total sales at over 213.5 billion yuan (30.7 billion USD) shortly after the end of the 11.11, or “Singles Day” shopping festival, at the 2018 Tmall 11:11 Global Shopping Festival gala in Shanghai early on November 12, 2018.

Alibaba’s annual e-commerce extravaganza is about to begin.

And as the Chinese retail giant has courted more brands to participate, retailers around the world are bracing for the biggest shopping event of the year.

Alibaba’s Singles’ Day debuted on Nov. 11, 2009, as a day for those people not in romantic relationships to celebrate themselves by shopping online. The 24-hour phenomenon trounces Amazon’s Prime Day. In fact, it is expected to generate more sales than the U.S. shopping holidays Black Friday and Cyber Monday, and spending on Thanksgiving Day, combined, according to Adobe Analytics.

Adobe, which checks the online transactions of 80 of the top 100 internet retailers in the U.S., has forecast the five-day stretch from Thanksgiving to Cyber Monday this year will bring in $29 billion in online sales. Alibaba’s Single’s Day in 2018 did over $30 billion, and that number is expected to grow.

“Think of 11.11 as the Super Bowl for brands,” Jiang Fan, president of Alibaba’s Taobao and Tmall businesses, said in an interview with CNBC. “It’s an opportunity to pull out all the stops to wow Chinese consumers.”

Alibaba touts the event with over-the-top fashion shows and concerts. This year, American pop singer Taylor Swift will perform at the “Countdown Gala.”

The company says it has grown to more than 200,000 participating brands from 27 in 2009, and 60,000 in 2017.

The impressive sales figures, and all-around commotion, make the event one that more American companies are finding ways to participate in — even ones that don’t participate in Prime Day, at that.

About 24% of U.S. retailers say they plan to run promotions for Singles’ Day, Adobe said, after conducting a poll of 402 U.S. retailers that do annual sales of more than $500,000. That will include deals on Alibaba’s platforms in China and on retailers’ U.S. websites. Former Snap exec Imran Khan’s new fashion website Verishop, for example, says it will be running a site-wide sale of 25% off.

Alibaba says participating global brands include Apple, Estee Lauder and even some younger start-ups like sneaker maker Allbirds, which is using the event to highlight a new ad campaign on sustainability.

“Some of the most innovative marketing campaigns and new product launches are coming from U.S. brands this year,” Fan said. “I think all eyes are on us [and 11.11] each year to see what the future of retail looks like and how to best succeed in the China market.”

Trade tensions between the U.S. and China could hit American brands participating in Singles’ Day this year, however, a separate study by Alix Partners said.

Seventy-eight percent of people think their consumption of American brands during Singles’ Day will be impacted, while 70% say the trade war will impact their overall purchasing. AlixPartners surveyed 2,022 Chinese consumers about their intentions.

Factors behind that tepid sentiment include both the possibility that American goods will cost more than competing Chinese items, or that Chinese consumers will opt for items made outside the U.S. Still, companies should participate regardless or risk falling behind on Chinese consumers’ radars, according to the firm.

“Businesses need to get in on the action if they’re not already selling during this event, as Singles’ Day participation has become a barometer of a brand’s presence in the market,” AlixPartners directors Jason Ong and Michael McCool said in their report. “Brands are frequently assessed by their success in this event, so they can’t afford to miss out on a substantial sales drive.”

AlixPartners’ study also predicted apparel, footwear and sporting goods to be best sellers this year, followed by beauty products and lifestyle electronics.

On Singles’ Day, “[the] China consumption market is huge, and U.S. brands and retailers need to think about whether they want to expand into China — if they have products that have an edge over local or other foreign brands,” Charlie Poon, analyst at consulting group Coresight Research, said in an interview.

Alibaba shares have climbed more than 36% year-to-date. Its market cap has grown to roughly $487 billion.


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: lauren thomas
Keywords: news, cnbc, companies, retailers, singles, brands, shopping, participate, billion, chinese, day, alibabas, china, event, set, sales, extravaganza


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The death of the DVD: Why sales dropped more than 86% in 13 years

At its peak, DVD sales reached $16.3 billion and were 64% of the U.S. home video market. These days, DVD sales account for less than 10% of the total market, with total sales hitting $2.2 billion in 2018. It’s likely that Blu-Ray sales fractionally impacted the decline of DVD sales, but the fact that DVD sales still outpace Blu-Ray sales shows it’s not the real culprit. So after hitting a high of $16.3 billion in DVD sales in 2005, there was a 3% drop in 2006. In the meantime, DVD sales continue


At its peak, DVD sales reached $16.3 billion and were 64% of the U.S. home video market.
These days, DVD sales account for less than 10% of the total market, with total sales hitting $2.2 billion in 2018.
It’s likely that Blu-Ray sales fractionally impacted the decline of DVD sales, but the fact that DVD sales still outpace Blu-Ray sales shows it’s not the real culprit.
So after hitting a high of $16.3 billion in DVD sales in 2005, there was a 3% drop in 2006.
In the meantime, DVD sales continue
The death of the DVD: Why sales dropped more than 86% in 13 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: sarah whitten
Keywords: news, cnbc, companies, services, death, decline, sales, digital, billion, streaming, video, market, nash, dvd, dropped


The death of the DVD: Why sales dropped more than 86% in 13 years

DVD movies are displayed for sale at a Wal-Mart Stores Inc. location in Burbank, California, U.S., on Tuesday, Nov. 22, 2016.

DVD sales have been on the decline for over a decade, but a slew of new streaming services and a shift in how consumers are watching movies and TV shows could be the final death knell for the technology.

The same can be said for Blu-Ray discs.

At its peak, DVD sales reached $16.3 billion and were 64% of the U.S. home video market. That was 2005. These days, DVD sales account for less than 10% of the total market, with total sales hitting $2.2 billion in 2018.

Blu-Ray discs, which have always been slightly more expensive than DVDs, launched in 2006. At most, Blu-Ray sales reached $2.37 billion in 2013, before falling to $1.8 billion in 2018. It’s likely that Blu-Ray sales fractionally impacted the decline of DVD sales, but the fact that DVD sales still outpace Blu-Ray sales shows it’s not the real culprit.

Instead, a combination of the Great Recession, a rise in customers buying on-demand and digital copies of films and the launch of streaming services is what has caused DVD sales to decline more than 86% in the last 13 years.

And that decline could get worse as more streaming services enter the market. Disney+, Peacock and HBO Max are all arriving within the next year. Apple TV+ rolled out on Nov. 1, and Disney+ arrives Tuesday.

Leading up to the economic downturn, there was a big boom in DVD sales. Between 2001 and 2005 customers had transitioned away from VHS and were buying up not only new films as they came out, but older films that were being released on DVD.

However, once customers had bought the DVD versions of those library films, their DVD spending started to decrease. So after hitting a high of $16.3 billion in DVD sales in 2005, there was a 3% drop in 2006. But, in 2007, DVD sales actually rose about half a percent.

The real inflection point was the Great Recession. From 2007 to 2008, DVD sales slumped 26%, falling to $11.6 billion from $15.7 billion. Bruce Nash, founder and president of Nash Information Services, said consumers ditched DVD spending as their disposable income shriveled, kicking off the demise of the DVD industry.

The U.S. home video market also slumped during the same period. After hitting a high of $25.2 billion in 2005, by the end of 2008, total sales of DVDs, Blu-Rays, on-demand video and digital had fallen 28% to $17.9 billion.

The DVD sales decline was compounded in the years after the economy had recovered because of the rise of video on-demand — renting and buying movies through cable subscriptions — and digital downloads began to grow in popularity.

Consumers could rent movies for as low as 99 cents and buy a movie outright for around $10. For comparison, DVD prices were around $20 and Blu-Rays were closer to $25. Many had adopted digital film purchases during the economic downturn because it was a cheaper option.

“What we’ve seen is that the digital market is very different from physical market,” Michael Smith, professor of information technology and marketing at Heinz College and Tepper School of Business, said. “And when someone moves from physical market to digital market, they move across all platforms. Once they go digital, they don’t go back to DVD.”

And as customers were transitioning to digital, streaming services also arrived on the scene. (Data on the subscription service model is only available starting in 2011.)

“The big fundamental shift here is that when you look at a film you want to watch, and maybe you missed it in theaters, 10 to 15 years ago, you can buy the DVD or rent from Blockbuster,” Nash said. “Now, I’ve got HBO and [the film is] going to be on HBO in a couple months. It’s not worth buying the DVD to watch it. I’ll just wait a bit.”

Since 2011, platforms like Netflix, Hulu and HBO have seen sales balloon 1,231% to $12.9 billion. In the meantime, DVD sales continued to slip, falling more than 67% between 2011 and 2018.

With the help of streaming services, the home video market has also been revived. In 2018, the U.S. market reached $23.2 billion.

“Now the question is: Is $25 billion just the natural cap?” Nash asked.


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: sarah whitten
Keywords: news, cnbc, companies, services, death, decline, sales, digital, billion, streaming, video, market, nash, dvd, dropped


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