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☆ Businesses in China's Wuhan face fresh worries after COVID easing
▼ + stars: | 2022-12-12 | by ( Martin Quin Pollard | ) www.reuters.com time to read: +4 min

WUHAN, China, Dec 12 (Reuters) - Infections are delivering a fresh kick in the teeth for many small businesses in China's central city of Wuhan, despite the easing of most stringent curbs last week. "This street is considered a top location in Wuhan," Zhu added. The only queue within several hundred metres was outside a pharmacy, where people waited to stock up on medicines to treat the symptoms of COVID. People just do not have much money anymore, said a Wuhan taxi driver, surnamed Sun, adding that subsidies had made the 2020 lockdown more manageable than this year's measures. "Now, it’s a tiny bit better, but I can only make enough to pay back the company my monthly taxi rental fee."

☆ UK Black Friday shopper traffic up 3.7% - Sensormatic
▼ + stars: | 2022-11-26 | by ( ) www.reuters.com time to read: +1 min

LONDON, Nov 26 (Reuters) - Black Friday shopper numbers across Britain rose 3.7% year-on-year, according to data from Sensormatic Solutions, providing some relief to the country's beleaguered retailers. The increase was driven by high streets, where footfall was up 13.9% year-on-year. However, shopper numbers on Black Friday were still down 21.3% on pre-pandemic levels, Sensormatic said. Separate data from Barclaycard Payments showed the volume of Black Friday payment transactions rose 3.2% compared to 2021. Reporting by James Davey; Editing by Mike HarrisonOur Standards: The Thomson Reuters Trust Principles.

☆ Dollar Tree cuts 2022 profit view again as inflation threatens margins
▼ + stars: | 2022-11-22 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

The increased footfall from discount-hunting shoppers helped the company lift its annual sales outlook and post a strong third quarter. An increase in prices at Dollar Tree banner stores to $1.25 from the traditional $1 supported margins during the period, but company executives said the lack of flexibility to adjust prices could lead to margin pressures in the short term. The price cuts, however, helped Family Dollar post its strongest quarterly same-store sales jump since 2020 and grow quarterly traffic for the first time in three years. Dollar Tree now expects annual per-share profit at the lower half of its previously estimated range of $7.10 to $7.40. The company raised its forecast for full-year net sales to between $28.14 billion and $28.28 billion, from $27.85 billion to $28.10 billion earlier.

☆ Gap Inc. launches its store on Amazon
▼ + stars: | 2022-11-10 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

New York CNNBusiness —Gap announced Thursday that it has officially launched its store on Amazon. While shoppers were able to buy Gap merchandise on Amazon previously through third-party sellers, the new partnership with Amazon Fashion marks the first time that Gap itself is selling its products on the online marketplace. The items, available for purchase beginning today on Amazon US and Amazon Canada, include the basics that Gap is known for — hoodies, T-shirts, denim, socks, underwear and sleepwear for adults, kids and infants. Gap (GPS) Inc. said its Amazon store will also include Baby Gap (GPS)-branded items such as nursery furniture, strollers, bassinets and cribs. None of the Gap items are exclusive to Amazon (AMZN), however, and will also be available for purchase in Gap stores and on Gap.com.

☆ Theater chain AMC in need of more blockbuster movies, shares fall
▼ + stars: | 2022-11-08 | by ( Chavi Mehta | ) www.reuters.com time to read: +2 min

Nov 8 (Reuters) - AMC Entertainment Holdings Inc (AMC.N) said its third-quarter loss widened, with the theater chain operator burning through more cash to keep its 950 theaters running as fewer blockbuster releases reduced footfall in cinemas. The company also said it raised just $36.4 million from the sale of 14.9 million of its preferred shares APE , listed in August, sending them down 5.6% in extended trading. On an earnings call with investors, Chief Executive Adam Aron noted the number of big movie titles being released by major studios was still down 20% to 30% versus pre-pandemic norms. It is this: movie theater operators need more movies," he said. "The question for AMC comes down to how to stem losses and manage its balance sheet while facing fewer major movies in the pipeline and ongoing operational challenges," said Jamie Lumley, analyst at Third Bridge.

Goldman Sachs analysts predict gross finance costs for the listed UK real estate firms it covers may rise by 75% over the next five years. UK REITs are using less leverage now than before the financial crisis. Leisure and retail property vacancy rates also remain above pre-pandemic levels, Local Data Company figures show, at 10.6% and 15.4% respectively. The stock market also signals growing investor caution around UK commercial property, with an index of 15 UK REITs down 44% so far in 2022 (.TRXFLDGBPREIC) compared with a 9.8% fall in the wider FTSE 350 (.FTLC) . UK REITs index vs 30-year gilt yield($1 = 0.8906 pounds)Register now for FREE unlimited access to Reuters.com RegisterEditing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ Posh ice cream, craft beer in vogue as Chinese downsize their love of luxury
▼ + stars: | 2022-10-13 | by ( Casey Hall | ) www.reuters.com time to read: +3 min

SHANGHAI, Oct 14 (Reuters) - Chinese consumers are typically known for lavish spending on high-end handbags, clothes and accessories that sustain Western luxury brands. Brands that have jumped on the trend include Kweichow Moutai (600519.SS), best known for $300 bottles of baijiu, the Chinese spirit popular at banquets. It debuted baijiu-infused ice cream at $10 a cup in May, racking up 2.5 million yuan ($350,000) of sales on the first day. Chinese consumers are "spoiling themselves with those little things and they're loving something novel," said Mark Tanner, founder of marketing agency China Skinny. "When times aren't so good, people want to feel better, guilty pleasures like ice cream can help," said Low.

☆ Cineplex makes approach for Cineworld's U.S. franchise, WSJ reports
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +2 min

Cineworld and Cineplex have been locked in a multimillion-dollar legal battle since the London-listed company rescinded its offer to buy Cineplex more than two years ago. Cineworld has since been struggling to rein in massive debt and this month filed for bankruptcy in the United States. Cineplex is in early talks with Cineworld's lenders about taking over Regal in exchange for debt and stock backed by the combined business, the WSJ reported, citing people familiar with the matter. Cineworld's restructuring adviser Alix Partners and financial adviser PJT Partners did not respond immediately to a Reuters request for comment. Cineworld and Cineplex held talks this year about merging operations while settling the legal judgment but failed to reach an agreement, the WSJ added.

☆ Macau casino operators soar as China allows tour groups after nearly 3 years
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

A woman rest next to the decoration inside the Wynn Palace casino resort in Macau, China December 20, 2019, on the 20th anniversary of the former Portuguese colony's return to China. Sands China (1928.HK) rose more than 13%, Wynn Macau (1128.HK) climbed 7%, Galaxy Entertainment (0027.HK) advanced 10% while shares of SJM (0880.HK) and MGM China (2282.HK) jumped 8% each. Currently, Chinese tourists to Macau need to book a visa appointment followed by a week-long approval process. The individual visa scheme accounted for around 50% of Chinese visitors to Macau in 2019 while tour groups accounted for around 25% of visitation. In the first phase, the resumption of tour groups will come from five provinces -- Guangdong, Shanghai, Zhejiang, Jiangsu and Fujian -- which represented almost 60% of mainland visits to Macau in 2019.

☆ The metaverse: How it became real estate's new frontier
▼ + stars: | 2022-09-23 | by ( Thomas Page | ) edition.cnn.com time to read: +12 min

The metaverse – a growing number of immersive virtual online worlds where users live and play – has become a hotbed of real estate speculation. Look beyond the numbers, however, and you’ll find whole professions being shaken up, from architects and designers to developers and real estate agents. But could real estate in the metaverse ever become as reliable an investment as bricks and mortar? “It’s hard to know if the real estate inside (metaverses) is going to be stable … Least of all us, and we’re deeply in it,” said Yorio. “It’s very possible that real estate in the metaverse is a stable investment in the future,” said Robson, of analytics company WetMeta, in an email.

LONDON, July 18 (Reuters) - Sales of electric fans, hoses, air conditioning units and sprinklers are soaring as Britons swelter amid record temperatures, retailers said. 2 supermarket group which also owns the Argos general merchandise business, said sales of fans last week rose 1,876% versus the week before, while sales of air conditioning units were up 2,420% and sales of paddling pools were up 814%. On Monday, 10 out of the top 15 most-sold items in Amazon's (AMZN.O) UK home and kitchen section were fans. Department store group John Lewis said sales of fans and air conditioning units were up 709% year-on year. It said sales of smart technology that controls temperatures leapt 95%, while sales of hoses had increased by 56% and sales of water cans by 21%.

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