Levi Strauss shares surge, as jean giant makes return to the public market

Levi Strauss is going public again. Levi Strauss on Wednesday night priced its initial public offering at $17, topping original expectations of between $14 and $16 a share. Levi Strauss is also eyeing further expansion through new stores, further wholesale relationships and building out its online sales. For the year ended November 2018, Levi Strauss reported sales of $5.58 billion, a 13.7 percent jump over the year prior. Levi Strauss’ IPO won’t be the last chance for public investors to buy sh


Levi Strauss is going public again. Levi Strauss on Wednesday night priced its initial public offering at $17, topping original expectations of between $14 and $16 a share. Levi Strauss is also eyeing further expansion through new stores, further wholesale relationships and building out its online sales. For the year ended November 2018, Levi Strauss reported sales of $5.58 billion, a 13.7 percent jump over the year prior. Levi Strauss’ IPO won’t be the last chance for public investors to buy sh
Levi Strauss shares surge, as jean giant makes return to the public market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: lauren hirsch
Keywords: news, cnbc, companies, business, strauss, sales, return, market, surge, jean, jeans, billion, levi, shares, public, makes, plans, company, giant


Levi Strauss shares surge, as jean giant makes return to the public market

Levi Strauss is going public again. Here’s how it dominated the denim market for 150 years. 2 Hours Ago | 11:27

Shares of blue jeans giant Levi Strauss & Co. surged 32 percent in their debut on the New York Stock Exchange, giving the company a market capitalization of $8.7 billion and demonstrating strong demand for owning a part of the jean giant.

Levi Strauss on Wednesday night priced its initial public offering at $17, topping original expectations of between $14 and $16 a share.

The newly public company, trading under the symbol “LEVI,” has an opportunity to improve market share with women beyond its core business of men’s jeans. Its men’s business accounted for $4 billion of Levi’s $5.6 billion 2018 revenue and was a “key driver of its profits,” the company has said.

Levi Strauss is also eyeing further expansion through new stores, further wholesale relationships and building out its online sales. Geographically, it expects further growth in China, where just 3 percent of its revenue came from in 2018.

Those plans come even as the global jean industry has faced pressure from new competitors and alternatives like Lululemon Athletica leggings. Over the last 10 years, global jeans sales have climbed at a 3.5 percent compounded annual growth rate, slower than the entire apparel category, according to Bernstein analyst Jamie Merriman.

Still, Levi Strauss has carved out a unique place for itself, with its iconic brand and “exceptional quality at accessible prices,” the company says. For the year ended November 2018, Levi Strauss reported sales of $5.58 billion, a 13.7 percent jump over the year prior. That increase has come as the company also added to its marketing, which jumped by nearly 24 percent over the same year.

Some of the jean company’s efforts over the past few years to solidify its connection with customers include a presence at U.S. festivals and sporting events. In 2017, singer Beyonce wore the brand’s cutoff shorts for her headline performance at the Coachella music festival

The 166-year-old company first went public in 1971, but has been private for the last 34 years. The offering will give the descendants of its founders a chance to cash out some of their holdings. According to the prospectus, members of the Haas family will sell more than 21 million shares in the IPO.

The family, though, will continue to hold nearly 81 percent of voting power, through the company’s dual share structure. The family, through “Class B” stock, will have 10 votes for every 1 vote of common “Class A” shares.

Levi Strauss has said in its IPO documents filed with regulators that it plans to use proceeds from its offering to invest further in its business, including potential acquisitions or strategic investments. As of its IPO filing, it had no immediate plans for investments or acquisitions.

Levi Strauss’ IPO won’t be the last chance for public investors to buy shares in a jean company this year. VF Corp plans to spin off its jeanswear business, which includes Wrangler, Lee, Rock & Republic, into a new public company called Kontoor Brands in the first half of 2019. VF’s remaining brands, which include Vans, The North Face, Timberland and others, will remain under the VF Corp parent company.

Gap, meanwhile, is planning to spin off its Old Navy brand into its own publicly traded company, leaving the Gap brand, Banana Republic, Athleta, Intermix and Hill City under the parent company with a name still to be determined. Both new companies will sell jeans, along with other apparel.

CNBC’s Courtney Reagan contributed to this report


Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: lauren hirsch
Keywords: news, cnbc, companies, business, strauss, sales, return, market, surge, jean, jeans, billion, levi, shares, public, makes, plans, company, giant


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Pinterest hires Walmart CTO ahead of IPO

Pinterest has hired Walmart CTO Jeremy King as its head of engineering ahead of the company’s upcoming IPO. King announced his departure from Walmart Wednesday, according to a memo obtained by CNBC. He’ll now be responsible for Pinterest’s “visual discovery engine” that recommends posts and images to Pinterest users. King, who joined Walmart in 2011, had been heading up the largest retailer in the world’s technology arm known as Walmart Labs. Prior to joining Walmart, King served as a vice presi


Pinterest has hired Walmart CTO Jeremy King as its head of engineering ahead of the company’s upcoming IPO. King announced his departure from Walmart Wednesday, according to a memo obtained by CNBC. He’ll now be responsible for Pinterest’s “visual discovery engine” that recommends posts and images to Pinterest users. King, who joined Walmart in 2011, had been heading up the largest retailer in the world’s technology arm known as Walmart Labs. Prior to joining Walmart, King served as a vice presi
Pinterest hires Walmart CTO ahead of IPO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: sara salinas, lauren thomas, source
Keywords: news, cnbc, companies, ipo, ahead, sales, responsible, technology, engineering, pinterest, cto, visual, according, hires, company, walmart, king


Pinterest hires Walmart CTO ahead of IPO

Pinterest has hired Walmart CTO Jeremy King as its head of engineering ahead of the company’s upcoming IPO.

King announced his departure from Walmart Wednesday, according to a memo obtained by CNBC. He’ll now be responsible for Pinterest’s “visual discovery engine” that recommends posts and images to Pinterest users.

Last month Pinterest filed confidentially for a public offering, after a decade as a private company. An IPO and subsequent public disclosures would open the company and its underlying tech up to heightened scrutiny.

The company is seeking a valuation of at least $12 billion, according to The Wall Street Journal.

King, who joined Walmart in 2011, had been heading up the largest retailer in the world’s technology arm known as Walmart Labs. He was responsible for helping put new technology, like shelf-scanning robots, in Walmart stores and helping the company compete with Amazon online.

In the latest quarter, Walmart’s e-commerce sales surged 43 percent. And the company ended 2018 with online sales growth of 40 percent, thanks to some of the services rolled out under King like in-store pickup and grocery delivery.

“Not only is Jeremy a respected engineering leader, but from the moment we met him, we knew his values around putting the customer first were aligned with our own focus on Pinners,” Pinterest CEO Ben Silbermann said in a statement. “As we build products to inspire people to create a life they love, Jeremy’s technical experience and leadership are a perfect combination to build a visual discovery engine for all.”

Prior to joining Walmart, King served as a vice president of software development and engineering at eBay, according to his LinkedIn profile.

Pinterest has been named to the CNBC Disruptor 50 List six straight years, ranking in the 36th spot for 2018.

WATCH: How Pinterest, Lyft, Uber IPOs might affect FAANG stocks


Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: sara salinas, lauren thomas, source
Keywords: news, cnbc, companies, ipo, ahead, sales, responsible, technology, engineering, pinterest, cto, visual, according, hires, company, walmart, king


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Amazon is launching Belei, its first skin care line, as it pushes further into private-label products

Amazon is getting into another category in retail: skin care. The company on Wednesday said it’s launching its first dedicated skin care line, called Belei. For Amazon, the move into skin care offers it the opportunity to sell goods at higher margins than groceries. Sales in the skin care category were up 13 percent, NPD Group said, contributing 60 percent of total industry gains. Skin care sales amounted to $5.6 billion in 2018.


Amazon is getting into another category in retail: skin care. The company on Wednesday said it’s launching its first dedicated skin care line, called Belei. For Amazon, the move into skin care offers it the opportunity to sell goods at higher margins than groceries. Sales in the skin care category were up 13 percent, NPD Group said, contributing 60 percent of total industry gains. Skin care sales amounted to $5.6 billion in 2018.
Amazon is launching Belei, its first skin care line, as it pushes further into private-label products Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-20  Authors: lauren thomas, indranil bhoumik, mint, getty images
Keywords: news, cnbc, companies, privatelabel, care, pushes, skin, products, sales, retail, amazon, sells, brands, belei, sell, launching, beauty, stores, line


Amazon is launching Belei, its first skin care line, as it pushes further into private-label products

Amazon is getting into another category in retail: skin care.

The company on Wednesday said it’s launching its first dedicated skin care line, called Belei. It will sell items including moisturizers, eye cream and spot treatments, ranging in price from $9 to $40.

Amazon has increasingly been adding its own in-house brands, including ones for clothing, shoes, snack foods, baby diapers and mattresses. The move threatens the other brands that currently sell on its platform, as Amazon has the power to give its own labels top placement on the website. Other rivals that sell the same items at higher prices also can be threatened as sales shift to Amazon’s cheaper alternative.

Amazon currently has 138 private labels, according to TJI, a subscription business that tracks Amazon’s further foray into retail.

“Our goal is to help customers spend less time and money searching for the right skincare solutions,” Kara Trousdale, head of beauty for private brands on Amazon, said in a statement.

As Amazon grows more in bricks-and-mortar retail, it could start to put its in-house brands on shelves in stores, too. This is something it’s already started to do at Amazon 4-star, a location in New York that sells a wide array of merchandise from stationary to cooking utensils. Amazon hasn’t been able to change the products its sells at Whole Foods stores as much because the grocery chain’s lease agreements say it must primarily sell food there. But it’s reportedly looking to launch a new grocery store business where it has more autonomy to pick what it wants to sell there.

For Amazon, the move into skin care offers it the opportunity to sell goods at higher margins than groceries. It could impact the likes of beauty brands such as Procter & Gamble’s Olay, Estee Lauder and Clinique, which make similar face serums and cleansing wipes, in addition to retail outlets like Sephora and Ulta, which also sell skin care.

The prestige beauty industry in the U.S. reached $18.8 billion last year, up 6 percent year over year, according to data from The NPD Group. Sales in the skin care category were up 13 percent, NPD Group said, contributing 60 percent of total industry gains. Skin care sales amounted to $5.6 billion in 2018.


Company: cnbc, Activity: cnbc, Date: 2019-03-20  Authors: lauren thomas, indranil bhoumik, mint, getty images
Keywords: news, cnbc, companies, privatelabel, care, pushes, skin, products, sales, retail, amazon, sells, brands, belei, sell, launching, beauty, stores, line


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Online retailer ASOS hit by teething problems at US warehouse

British online retailer ASOS said its new warehouse in Atlanta, United States, struggled to cope with demand in its second quarter, resulting in a dip in U.S. sales and adding to challenges in the French and German markets. “These delayed shipments will be recognised in (quarter three) and U.S. trading is now regaining momentum,” he said on Tuesday. “We will be increasing investment in price and marketing in the second half, particularly in France and Germany,” he said. “Given the actions we are


British online retailer ASOS said its new warehouse in Atlanta, United States, struggled to cope with demand in its second quarter, resulting in a dip in U.S. sales and adding to challenges in the French and German markets. “These delayed shipments will be recognised in (quarter three) and U.S. trading is now regaining momentum,” he said on Tuesday. “We will be increasing investment in price and marketing in the second half, particularly in France and Germany,” he said. “Given the actions we are
Online retailer ASOS hit by teething problems at US warehouse Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: bloomberg, getty images
Keywords: news, cnbc, companies, online, group, growth, retailer, asos, trading, performance, warehouse, teething, hit, million, germany, problems, sales, second, targets, quarter


Online retailer ASOS hit by teething problems at US warehouse

British online retailer ASOS said its new warehouse in Atlanta, United States, struggled to cope with demand in its second quarter, resulting in a dip in U.S. sales and adding to challenges in the French and German markets.

Chief Executive Nick Beighton said the company’s U.S performance was behind plan because higher-than-expected demand at its new facility caused a significant short-term despatch backlog, which had now been cleared.

“These delayed shipments will be recognised in (quarter three) and U.S. trading is now regaining momentum,” he said on Tuesday.

Beighton said ASOS, which targets style-conscious twenty-somethings, continued to outperform in Britain, with sales growth of 14 percent in the quarter, but its two biggest markets in continental Europe – France and Germany – continued to be challenging.

“We will be increasing investment in price and marketing in the second half, particularly in France and Germany,” he said. “Given the actions we are taking together with an improving U.S. performance, we believe the group will deliver stronger growth in the second half.”

He said he was confident the group would meet the full-year targets it lowered in December, when it cut its sales growth forecast to 15 percent and its earnings before interest and tax (EBIT) margin target for the year to around 2 percent, blaming a poorly executed Black Friday promotional campaign.

ASOS reported total retail sales up 11 percent in constant currency to 641.3 million pounds ($850.4 million) in the quarter to February 28.

The retailer’s shares were trading 5.3 percent lower on Tuesday morning.


Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: bloomberg, getty images
Keywords: news, cnbc, companies, online, group, growth, retailer, asos, trading, performance, warehouse, teething, hit, million, germany, problems, sales, second, targets, quarter


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Here’s how cybersecurity vendors drive the ‘hacking’ news cycle

Smaller vendors particularly struggle because top corporations already have contracts or strong customer relationships with the biggest companies. Exposing a security flaw, no matter how small, can garner big headlines if it’s at a big company. As a result, vendors often try to make a big deal out of minor breaches that don’t expose important company or customer information. For instance, all four executives said vendors tried to draw their attention to potentially exposed data on Amazon and Mic


Smaller vendors particularly struggle because top corporations already have contracts or strong customer relationships with the biggest companies. Exposing a security flaw, no matter how small, can garner big headlines if it’s at a big company. As a result, vendors often try to make a big deal out of minor breaches that don’t expose important company or customer information. For instance, all four executives said vendors tried to draw their attention to potentially exposed data on Amazon and Mic
Here’s how cybersecurity vendors drive the ‘hacking’ news cycle Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: kate fazzini, steven puetzer, the image bank, getty images
Keywords: news, cnbc, companies, big, heres, sales, drive, cybersecurity, security, tried, negative, vendors, cycle, data, pitch, hacking, phone, company


Here's how cybersecurity vendors drive the 'hacking' news cycle

It’s hard for cybersecurity companies to get noticed. Smaller vendors particularly struggle because top corporations already have contracts or strong customer relationships with the biggest companies.

This is where the threat of negative media coverage comes in. Exposing a security flaw, no matter how small, can garner big headlines if it’s at a big company. Enough press coverage can spark weeks of outrage and land top leaders in front of Congress.

However, breaches that actually cause damage are relatively rare. As a result, vendors often try to make a big deal out of minor breaches that don’t expose important company or customer information.

For instance, all four executives said vendors tried to draw their attention to potentially exposed data on Amazon and Microsoft Azure cloud servers. None of this data included any current material information.

In one case, a database housed business plans for a 10-year-old project that had already been reported on and was now irrelevant. In another case, the data included information about customers — but only their names and the fact that they had attended a technology conference several years earlier. There were no further personally identifying details, Social Security numbers or other data that would have raised the ire of regulators or even senior company executives.

But the representatives pressured the execs on the phone, saying they had repeatedly tried to warn them about these minor issues and were ready to go to media outlets.

Fearing negative publicity, these execs typically agreed to spend around an hour allowing the vendor to offer “free services” to fix the problem, followed by a bigger pitch for paid services.

Two of the executives also said vendors used questionable tactics just to get through to their phone. Vendors have called in to report “emergency” incidents, then once they got past the company’s gatekeepers, turned the “alert” into a sales pitch. They have also lied to administrative staff about their reasons for calling, characterizing their call as a matter of grave security importance, only to present a sales pitch once they’d worked their way up to the right executive.

All told, this results in a great deal of wasted time. Worse, as one executive said, “I distrust most of them, so it’s possible I miss the people who may be trying to raise actual issues.”


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: kate fazzini, steven puetzer, the image bank, getty images
Keywords: news, cnbc, companies, big, heres, sales, drive, cybersecurity, security, tried, negative, vendors, cycle, data, pitch, hacking, phone, company


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Marijuana grower Tilray rallies after sales more than double

Shares of Tilray jumped after the company reported that its cannabis sales more than doubled over the last year. Tilray on Monday reported fourth-quarter revenue of $15.5 million, buoyed 2018 sales to $43.1 million — up 110 percent from last year. First, it expanded its alliance with Sandoz, a division of Swiss drugmaker Novartis, in an effort to increase access to medical cannabis to patients around the world. Tilray said it plans to work with Novartis’ generic drug business and supply non-smok


Shares of Tilray jumped after the company reported that its cannabis sales more than doubled over the last year. Tilray on Monday reported fourth-quarter revenue of $15.5 million, buoyed 2018 sales to $43.1 million — up 110 percent from last year. First, it expanded its alliance with Sandoz, a division of Swiss drugmaker Novartis, in an effort to increase access to medical cannabis to patients around the world. Tilray said it plans to work with Novartis’ generic drug business and supply non-smok
Marijuana grower Tilray rallies after sales more than double Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: thomas franck
Keywords: news, cnbc, companies, marijuana, rallies, double, million, medical, strategic, share, tilray, cannabis, grower, sales, reported, company, quarter


Marijuana grower Tilray rallies after sales more than double

Shares of Tilray jumped after the company reported that its cannabis sales more than doubled over the last year.

Tilray on Monday reported fourth-quarter revenue of $15.5 million, buoyed 2018 sales to $43.1 million — up 110 percent from last year. The surge was driven by bulk sales, the first months of the legal adult-use market in Canada and accelerated wholesale exports, according to its latest financial update. Analysts had expected fourth-quarter sales of $14.1 million.

In premarket trading Tuesday, the British Columbia-based company’s stock was up nearly 3 percent.

“Our team made significant progress on our long-term initiatives including increasing production capacity, expanding and strengthening strategic partnerships, and acquiring complementary businesses to accelerate our future growth and leadership position in medical and adult-use cannabis,” Tilray CEO Brendan Kennedy said of the company’s financial report.

Net loss for the quarter was $31 million, or 33 cents per share, compared to $3 million, or 4 cents per share, for the prior-year period. The company also said that the number of kilograms of cannabis and derivative products increased nearly three-fold to 2,053 from 694 kilograms compared to the fourth quarter of 2017.

Kilograms sold in 2018 increase over two-fold to 6,478 from 3,024 in the prior year.

The most recent quarter was busy for Tilray, which expanded strategic partnerships with a number of global partners.

First, it expanded its alliance with Sandoz, a division of Swiss drugmaker Novartis, in an effort to increase access to medical cannabis to patients around the world. Tilray said it plans to work with Novartis’ generic drug business and supply non-smokable and non-combustible medical cannabis products where legal.

The Canadian company also disclosed a research and development partnership with Budweiser-parent AB InBev focused on non-alcohol THC and CBD beverages. Each company intends to invest up to $50 million, for a total of up to $100 million, Tilray said.


Company: cnbc, Activity: cnbc, Date: 2019-03-18  Authors: thomas franck
Keywords: news, cnbc, companies, marijuana, rallies, double, million, medical, strategic, share, tilray, cannabis, grower, sales, reported, company, quarter


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From econoboxes to hypercars, new EVs dominate Geneva Auto Show

Churning out an astounding 1,900 horsepower, Ferrari’s Pininfarina Battista is one of the most powerful automobiles ever produced. It also happens to be all electric, one of a score of battery-based vehicles debuting at this week’s Geneva Motor Show, which runs through Sunday. While “electrification,” whether hybrid, plug-in or all-electric, has yet to make a serious dent in the global automotive market from a sales standpoint, carmakers are moving to adopt the technology at a rapid rate. Nowher


Churning out an astounding 1,900 horsepower, Ferrari’s Pininfarina Battista is one of the most powerful automobiles ever produced. It also happens to be all electric, one of a score of battery-based vehicles debuting at this week’s Geneva Motor Show, which runs through Sunday. While “electrification,” whether hybrid, plug-in or all-electric, has yet to make a serious dent in the global automotive market from a sales standpoint, carmakers are moving to adopt the technology at a rapid rate. Nowher
From econoboxes to hypercars, new EVs dominate Geneva Auto Show Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-16  Authors: paul a eisenstein, company handout, paul eisenstein cnbc, meghan reeder
Keywords: news, cnbc, companies, technology, score, hypercars, serious, geneva, evs, auto, weeks, swiss, sundaywhile, sales, standpoint, season, dominate, vehicles, econoboxes


From econoboxes to hypercars, new EVs dominate Geneva Auto Show

Churning out an astounding 1,900 horsepower, Ferrari’s Pininfarina Battista is one of the most powerful automobiles ever produced. It also happens to be all electric, one of a score of battery-based vehicles debuting at this week’s Geneva Motor Show, which runs through Sunday.

While “electrification,” whether hybrid, plug-in or all-electric, has yet to make a serious dent in the global automotive market from a sales standpoint, carmakers are moving to adopt the technology at a rapid rate. Nowhere has that been more apparent than at this year’s Swiss car show, the biggest of the season for Europe and a harbinger of products that will be rolling out globally in the coming year.


Company: cnbc, Activity: cnbc, Date: 2019-03-16  Authors: paul a eisenstein, company handout, paul eisenstein cnbc, meghan reeder
Keywords: news, cnbc, companies, technology, score, hypercars, serious, geneva, evs, auto, weeks, swiss, sundaywhile, sales, standpoint, season, dominate, vehicles, econoboxes


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From econoboxes to hypercars, new EVs dominate Geneva Auto Show

Churning out an astounding 1,900 horsepower, Ferrari’s Pininfarina Battista is one of the most powerful automobiles ever produced. It also happens to be all electric, one of a score of battery-based vehicles debuting at this week’s Geneva Motor Show, which runs through Sunday. While “electrification,” whether hybrid, plug-in or all-electric, has yet to make a serious dent in the global automotive market from a sales standpoint, carmakers are moving to adopt the technology at a rapid rate. Nowher


Churning out an astounding 1,900 horsepower, Ferrari’s Pininfarina Battista is one of the most powerful automobiles ever produced. It also happens to be all electric, one of a score of battery-based vehicles debuting at this week’s Geneva Motor Show, which runs through Sunday. While “electrification,” whether hybrid, plug-in or all-electric, has yet to make a serious dent in the global automotive market from a sales standpoint, carmakers are moving to adopt the technology at a rapid rate. Nowher
From econoboxes to hypercars, new EVs dominate Geneva Auto Show Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-16  Authors: paul a eisenstein, company handout, paul eisenstein cnbc, meghan reeder
Keywords: news, cnbc, companies, sales, geneva, score, evs, hypercars, technology, sundaywhile, econoboxes, weeks, season, serious, auto, swiss, dominate, standpoint, vehicles


From econoboxes to hypercars, new EVs dominate Geneva Auto Show

Churning out an astounding 1,900 horsepower, Ferrari’s Pininfarina Battista is one of the most powerful automobiles ever produced. It also happens to be all electric, one of a score of battery-based vehicles debuting at this week’s Geneva Motor Show, which runs through Sunday.

While “electrification,” whether hybrid, plug-in or all-electric, has yet to make a serious dent in the global automotive market from a sales standpoint, carmakers are moving to adopt the technology at a rapid rate. Nowhere has that been more apparent than at this year’s Swiss car show, the biggest of the season for Europe and a harbinger of products that will be rolling out globally in the coming year.


Company: cnbc, Activity: cnbc, Date: 2019-03-16  Authors: paul a eisenstein, company handout, paul eisenstein cnbc, meghan reeder
Keywords: news, cnbc, companies, sales, geneva, score, evs, hypercars, technology, sundaywhile, econoboxes, weeks, season, serious, auto, swiss, dominate, standpoint, vehicles


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High labor costs eat into JD Wetherspoon’s profit

British pubs group JD Wetherspoon Plc posted an 18.9 percent fall in first-half pretax profit on Friday, hit by high labor costs. The company, like most restaurant chains in the country, has been battling high staff costs, property prices and power bills as well as a move away from pub drinking by younger Britons. The FTSE 250, which relies heavily on alcohol sales at its restaurants, said on Friday labour costs increased by about 33 million pounds, accounting for the biggest chunk of overall co


British pubs group JD Wetherspoon Plc posted an 18.9 percent fall in first-half pretax profit on Friday, hit by high labor costs. The company, like most restaurant chains in the country, has been battling high staff costs, property prices and power bills as well as a move away from pub drinking by younger Britons. The FTSE 250, which relies heavily on alcohol sales at its restaurants, said on Friday labour costs increased by about 33 million pounds, accounting for the biggest chunk of overall co
High labor costs eat into JD Wetherspoon’s profit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: reuters with cnbccom, robert alexander, getty images
Keywords: news, cnbc, companies, younger, profit, pubs, rose, sales, increased, labor, jd, eat, company, wetherspoons, likeforlike, costs, weeks, high


High labor costs eat into JD Wetherspoon's profit

British pubs group JD Wetherspoon Plc posted an 18.9 percent fall in first-half pretax profit on Friday, hit by high labor costs.

The company, like most restaurant chains in the country, has been battling high staff costs, property prices and power bills as well as a move away from pub drinking by younger Britons.

The FTSE 250, which relies heavily on alcohol sales at its restaurants, said on Friday labour costs increased by about 33 million pounds, accounting for the biggest chunk of overall costs.

It expects results for the current financial year to remain unchanged.

The company said like-for-like sales rose 9.6 percent in the six weeks to March 10, helped by good weather this year, while total sales increased 10.9 percent.

The owner and operator of more than 900 pubs in UK and Ireland said like-for-like sales rose 6.3 percent in the 26 weeks to January 27.


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: reuters with cnbccom, robert alexander, getty images
Keywords: news, cnbc, companies, younger, profit, pubs, rose, sales, increased, labor, jd, eat, company, wetherspoons, likeforlike, costs, weeks, high


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‘Dungeons and Dragons’ has found something its early fans never expected: Popularity

The days of hiding away in a basement rolling dice and playing “Dungeons and Dragons” in darkness is over. In each of the last five years, sales of “Dungeons and Dragons” merchandise has grown by double digits. The fifth edition was so well-received by fans of “Dungeons and Dragons” that sales that year grew double digits. “The fifth edition has completely blown that model out of the water. Every kind of statistical model we’ve been able to to use from the history of ‘Dungeons and Dragons’ has b


The days of hiding away in a basement rolling dice and playing “Dungeons and Dragons” in darkness is over. In each of the last five years, sales of “Dungeons and Dragons” merchandise has grown by double digits. The fifth edition was so well-received by fans of “Dungeons and Dragons” that sales that year grew double digits. “The fifth edition has completely blown that model out of the water. Every kind of statistical model we’ve been able to to use from the history of ‘Dungeons and Dragons’ has b
‘Dungeons and Dragons’ has found something its early fans never expected: Popularity Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: sarah whitten, source, critical role, geek
Keywords: news, cnbc, companies, popularity, fifth, twitch, dragons, edition, tito, early, game, expected, sales, dungeons, fans, video, wizards


'Dungeons and Dragons' has found something its early fans never expected: Popularity

The days of hiding away in a basement rolling dice and playing “Dungeons and Dragons” in darkness is over.

More than 40 years after the first edition of “Dungeons and Dragons” hit shelves, video platforms Twitch and YouTube are leading a renaissance of the fantasy roleplaying board game — and business is booming.

“DnD has been around for 45 years and it is more popular now than it has ever been,” said Greg Tito, senior communications manager, at Wizards of the Coast. In each of the last five years, sales of “Dungeons and Dragons” merchandise has grown by double digits.

The company, owned by toymaker Hasbro, attributes this massive sales boom to the launch of the fifth edition of the game in 2014 and to “Critical Role,” a weekly show on live streaming video platform Twitch that features voice actors from TV shows and video games playing “Dungeons and Dragons.”

“You now no longer feel alone, you now no longer feel like that outcast,” said Matthew Lillard, actor and co-founder of Beadle and Grimms, a gaming company. “You are surrounded by people like you. There is a Twitch community. There is a story being told out there that is something that you love and there is no more of this fear of loving that thing out loud.”

The newest edition of “Dungeons and Dragons” centers more on storytelling than previous versions, Tito said, allowing players to focus more on narrative than the technical game mechanics.

“The fifth edition is a remarkable edition that is a lot easier to engage with as a new player and it really supports changing rules,” said Deborah Ann Woll, actress and dungeon master of Geek & Sundry’s “Relics and Rarities,” a “Dungeons and Dragons” show. “I love that they are very much like this is a guidebook and a blueprint and if you want to do something else or can’t remember a rule, just make it up. I like that they aren’t rigid.”

The fifth edition was so well-received by fans of “Dungeons and Dragons” that sales that year grew double digits. And that growth has continued, Tito said. Wizards of the Coast doesn’t disclose exact sales figures for the brand.

“When a new edition for a game like this releases, there is that flurry of activity, people get really excited about it and then, historically, that excitement has waned,” he said. “The fifth edition has completely blown that model out of the water. With the release in 2014, it has grown and only continued to grow. Every kind of statistical model we’ve been able to to use from the history of ‘Dungeons and Dragons’ has been broken at this point. So, we are in uncharted territory.”


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: sarah whitten, source, critical role, geek
Keywords: news, cnbc, companies, popularity, fifth, twitch, dragons, edition, tito, early, game, expected, sales, dungeons, fans, video, wizards


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