Author: Reuters
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Kimberly-Clark kept its annual forecast intact and beat first-quarter sales estimates on Tuesday, as lower prices at the Kleenex tissue maker helped draw budget-strained consumers amid persisting geopolitical and macroeconomic uncertainties. Please sign in to ensure you can read our agenda-setting intelligence, analysis and advice. Or get in touch at support@businessoffashion.com if you experience difficulties.
The Confederation of British Industry’s monthly measure of retail sales volume dropped to its lowest reading since the series started in 1983, as 77 percent of firms reported sales were down compared with a year ago.
U.S. consumer sentiment fell to a record low in April as the war with Iran fanned inflation fears, a survey showed on Friday.
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The Italian cashmere maker said its board adopted a ‘strengthened trade compliance procedure’ in December, after commissioning a risk assessment and gap analysis by an external law firm.
In a letter, a group of 15 Democrats in the US House of Representatives asked CEOs to detail how they passed tariff costs on to consumers, small businesses and other suppliers.
Filatex, one of India’s biggest polyester yarn producers, is paying nearly 30 percent more for the petroleum-derived feedstocks — purified terephthalic acid (PTA) and monoethylene glycol (MEG) — that it needs to make yarn, as Chinese suppliers raise prices and Middle East supply is disrupted, managing director Madhu Sudhan Bhageria told Reuters. Please sign in to ensure you can read our agenda-setting intelligence, analysis and advice. Or get in touch at support@businessoffashion.com if you experience difficulties.
Procter & Gamble on Friday warned of a $150 million hit to its annual profit from higher input cost due to the Middle East conflict, even as demand for its pricier hair and skin care products helped the consumer goods bellwether top quarterly expectations. Please sign in to ensure you can read our agenda-setting intelligence, analysis and advice. Or get in touch at support@businessoffashion.com if you experience difficulties.
Critics of Heidi O’Neill’s appointment are focusing on the downturn in Nike’s DTC business near the end of her tenure at the sportswear giant.