NEW YORK— A tight labor market and a shrinking pool of talented workers make "I'm quitting" some of the most dreaded words a small business owner can hear. Staff turnover is a fact of life, but it's particularly painful at small companies competing with larger businesses for workers. But he also discovered after talking to employees that they felt the culture in his...
German sportswear firm Adidas reported stronger-than-anticipated second-quarter net profit on Thursday, with the company saying it remains firmly on track to hit it's full-year targets.
The company also said that it will cut 2,200 jobs, or 22 percent of its global non-manufacturing workforce, and plans to sell factories in Mexico, as part of a $650 million cost-saving program. The company's net sales fell 13.7 percent to $840.7 million in the second quarter ended June 30, short of the $851.8 million analysts had expected, according to Thomson...
The company also said that it will cut 2,200 jobs, or 22 percent of its global non-manufacturing workforce, and plans to sell factories in Mexico, as part of a $650 million cost-saving program. Mattel's net sales fell 13.7 percent to $840.7 million in the second quarter ended June 30, short of the $851.8 million analysts had expected, according to Thomson Reuters...
SAN FRANCISCO, June 29- As Toys "R" Us Inc stores across the United States marked their final day in business on Friday, the bankrupt toy retailer posted a farewell message to customers on its website next to an image of its iconic Geoffrey the Giraffe mascot thanking them and urging them to "Play on!" More than 700 Toys "R" Us stores are shuttering in the United States.
*China cuts import tariffs on 1,449 consumer products for most favoured nations. BEIJING, May 31- China will cut import tariffs on nearly 1,500 consumer products ranging from cosmetics to home appliances from July 1, in a bid to boost imports as part of efforts to open up the economy. The move would be in step with Beijing's pledge to its trade partners- including the...
BEIJING, May 30- China will cut import tariffs on a range of consumer items including apparel, cosmetics, home appliances, and fitness products starting from July 1, the state council, or cabinet, said on Wednesday. The decision, which was announced after a state council meeting led by Premier Li Keqiang, aims to further open China's consumer market, will force its...
*China aims for fairer, more transparent investment environment. BEIJING, May 30- China will cut import tariffs on a range of consumer items including apparel, cosmetics, home appliances, and fitness products starting from July 1, the state council, or cabinet, said on Wednesday. The move, which was announced after a state council meeting led by Premier Li Keqiang,...
China plans to cut import tariffs for automobiles and car parts on July 1, opening up greater access to the world's largest auto market amid an easing of trade tensions with the United States. China is looking to boost domestic consumption amid signs of slowing momentum in the world's second-largest economy. The survey results would also be welcome news to...
*Tariff cuts to be more broad-ranging than previous reductions- Bloomberg. BEIJING, May 24- China plans to cut import tariffs on some consumer products ranging from food and cosmetics as early as July 1, Bloomberg reported on Thursday, citing unidentified sources. The move would be in step with Beijing's pledges to its trade partners- including the United States-...
"If you're a young brand, it's hard to be found," said Shaun Rein, an analyst with China Market Research Group, who covers Asian toy producers. The total value of deals in the U.S. toy industry has soared to $962.7 million since Toys' R' Us filed for bankruptcy on Sept. 19 last year, compared to $85.4 million in the same period a year ago, according to Thomson Reuters data.
WASHINGTON, April 30- U.S. consumer prices accelerated in the year to March, with a measure of underlying inflation surging to near the Federal Reserve's 2 percent target as last year's weak readings dropped out of the calculation. The rise in the annual inflation measures reported by the Commerce Department on Monday was anticipated by economists and Fed...
April 23- Hasbro Inc reported a bigger-than-expected drop in quarterly revenue on Monday, blaming the liquidation of Toys' R' Us and unsold toy inventory in Europe for a $100 million shortfall in revenue. Shares of the company fell nearly 5 percent to $78.80 before the bell and were set to open at their lowest since December 2016 as the company also fell 23 cents per...
Chief Executive Officer Margaret Georgiadis' announcement of her departure on Thursday came after just 14 months at the helm that has seen the company's share price cut in half. "This may imply that the business is struggling to the degree she feels it impossible to turn around and the options are running thin," said Stephanie Wissink, an analyst with broker...
April 19- Mattel Inc said on Thursday that board member and digital media executive Ynon Kreiz will replace Chief Executive Margaret Georgiadis, who is stepping down after only 14 months at the helm of the maker of Hot Wheels and Barbie dolls. Kreiz is a former head of digital media company Maker Studios, which assembled a stable of YouTube stars and was acquired...
April 19- Mattel Inc, which has been trying to revive its tepid sales, said on Thursday its director and former digital media executive Ynon Kreiz will replace Chief Executive Margaret Georgiadis, who has decided to step down after a 14- month tenure. Kreiz, who is the former head of digital media company Maker Studios that assembled a stable of YouTube stars and...
April 13- Toy company MGA Entertainment said on Friday it put in an $890 million bid for Toys' R' Us stores in the U.S. and Canada. Billionaire Isaac Larian, who heads MGA Entertainment, put in a bid of $675 million for stores in the United States and $215 million for stores in Canada, MGA said in a statement. The funds to purchase the stores will come from Larian's own...
PARIS, March 20- Vivendi Chairman Vincent Bollore has lost a two-year battle against the founders of Ubisoft, with his French media group announcing plans to sell its stake in the video games maker for 2 billion euros. Vivendi's exit, however, is a setback for Bollore amid growing concerns about other ventures in Italy. The Vivendi sale brings Ubisoft two new...
PARIS, March 20- Vivendi said on Tuesday it is to sell its stake in Ubisoft for 2 billion euros in a victory for the video games maker which has long opposed the French media group's involvement in the company. Ubisoft said the transaction included an investment by two new long-term investors, the Relationship Investing arm of Ontario Teachers' Public Equities...
CHICAGO/ NEW YORK, March 17- When Toys' R' Us secured a $3.1 billion bankruptcy loan in September, toy makers were reassured they would be paid for goods delivered to the company as it tried to emerge from Chapter 11.. While the downfall of Toys' R' Us came quickly in the United States, the Wayne, New Jersey- based retailer is still trying to find a buyer for its businesses in...
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