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☆ Wall Street banks name UK stocks to watch as Brits head to the polls
▼ + stars: | 2024-07-04 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

It would mark the second-highest pre-election performance since 1992, trailing only the 12.6% surge seen before the 1997 election, according to RBC's Fielding. "Overall, should a similar pattern to the 1997 election emerge in the future, the forward 1, 3, and 6-month periods could be notably strong." Genuit , Howden , and Travis Perkins were highlighted in the Building Materials sector, while Taylor Wimpey and Vistry were flagged in the homebuilders category. The bank specifically highlighted Barratt , Persimmon , and Taylor Wimpey as companies likely to benefit from these reforms. "Barratt and Taylor Wimpey remain our preferred Buy-rated names given the opportunities arising from potential planning reforms and relatively undemanding valuations."

Persons: Mark Fielding, RBC's Fielding, Fielding, Genuit, Travis Perkins, Taylor Wimpey, Ami Galla, Galla, —, Labour —, Barratt, Persimmon, " Barratt, AJ Bell Organizations: RBC Capital Markets, Conservative, Labour, RBC, FTSE, FTMC, Materials, AFC Energy, ITM Power, boohoo Locations: Howden, Germany, St, James's, London, Berkeley

☆ What is fast fashion, and why is it so controversial?
▼ + stars: | 2023-11-24 | by ( Amaya Mcdonald | Taylor Nicioli | ) edition.cnn.com time to read: +7 min

But while cheap chic may seem like the way to go, the fast fashion industry sees clothing pushed out on a scale that is even too large for most consumers to keep up with. Why is fast fashion so popular? Fast fashion accounts for “quick designs, quick manufacturing, quick marketing, quick retailing — it doesn’t leave the time to consider these bigger needs, like ethical considerations or rights of workers,” Osnes said. “The planet is on fire, and the truth is the fashion industry aids in a percentage of that.”Is ‘sustainable fashion,’ a viable alternative? But shop responsibly… try to use your budget to buy one good quality item,” Arya said, instead of a glut of fast fashion basics.

Persons: CNN —, Preeti Arya, Vox, Shein, Jade Gao, Beth Osnes, ” Osnes, “ It’s, ”, Aja Barber, Technology’s Preeti Arya, Richard Levine, Arya, ” Arya Organizations: CNN, Fashion Institute of Technology, New York Times, Times, Shein, Getty, United Nations Environment Programme, Greenpeace, George Washington University . Apparel, University of Colorado, Fashion Institute, Technology’s, Thrift Locations: New York, United States, Paris, Zara, Singapore, China, Guangzhou, AFP, India, Bangladesh, Pakistan

☆ These big names in retail could get hit by Temu's surging growth, Bank of America says
▼ + stars: | 2023-11-22 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

The explosive growth of Temu, the U.S. arm of Chinese e-commerce giant Pinduoduo , could spell trouble for some major retailers, according to Bank of America. Just six months ago, Temu's sales were only 4% of Target's. The analysts say Temu's growth has been fueled by aggressive advertising using influencers, social media and search, with daily active users reaching 40% of Amazon's level. Retailers at risk The BofA analysts say retailers competing on price alone are particularly exposed to Temu's disruption. Separately, analysts at UBS investment bank also see Temu's growth in a similar vein.

Persons: Thomas Thornton, Kohl, Zara, Inditex, Pinduoduo, Lowe, CNBC's Michael Bloom Organizations: Bank of America, Consumers, of America's, Navy, Urban Outfitters, Walmart, Target, UBS, Costco Locations: Temu, U.S, United States, Swiss

☆ Zalando cuts 2023 sales forecast as demand stays weak
▼ + stars: | 2023-11-02 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +3 min

Zalando packaging from an online delivery is seen discarded in a cardboard box in Galway, Ireland, August 27, 2020. Zalando now expects 2023 revenue to fall between 0.5% and 3%, having previously guided to a 1% decline at worst. An unusually warm September weighed on sales of autumn and winter clothes, Zalando said, exacerbating the impact of weak consumer sentiment. Gross merchandise volume - a measure of sales on the platform by Zalando and partner brands - fell by 2.4% from a year ago. The company's market value has dropped over the past two years as shoppers, freed from pandemic restrictions, returned to stores and ordered fewer clothes online.

Persons: Clodagh, Zalando, Clément Génelot, Bryan Garnier, Zalando's, Génelot, Gross, Helen Reid, Christian Schmollinger, Sonali Paul Organizations: REUTERS, Thomson Locations: Galway, Ireland, Paris, Germany, Austria, Switzerland

☆ Morning Bid: This Fed's not for turning
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +5 min

The U.S. Federal Reserve building is pictured in Washington, March 18, 2008. That thought was echoed by Cleveland Fed chief Loretta Mester, who said: "I suspect we may well need to raise the fed funds rate once more this year." Either way, this is not the sound of a Fed who thinks the inflation battle is won. Fed hawkishness, however, has kept futures markets pricing a 50-50 chance of another quarter point rate hike to the 5.50-5.75% range by year-end. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jason Reed, Mike Dolan, they've, Michelle Bowman, Loretta Mester, Michael Barr, hawkishness, Raphael Bostic, Susan Fenton Organizations: U.S . Federal, REUTERS, Reserve, Cleveland Fed, Institute, Supply, Bank of Japan, Reserve Bank of Australia, Big Tech, Atlanta Federal Reserve, Treasury, McCormick, PMI, Reuters, Thomson Locations: Washington, U.S

☆ TikTok is building an e-commerce team to go after pre-owned luxury bag buyers and sneakerheads
▼ + stars: | 2023-08-04 | by ( Dan Whateley | ) www.businessinsider.com time to read: +3 min

TikTok is hiring staffers to sell pre-owned luxury items like bags and collectibles like sneakers. Its investment in pre-owned goods shows how far the company's "everything store" ambitions extend. It's hiring a "Head of Pre-Owned Luxury" operation lead in Seattle to develop a go-to-market strategy and build a team of sellers focused on pre-owned luxury items. TikTok's plan to invest more in pre-owned luxury sales arrives as some TikTok Shop merchants have already been testing selling pre-owned luxury goods like jewelry, watches, and Chanel handbags, The Fashion Law reported. The market for pre-owned luxury items has exploded in China in the last few years, including on Douyin.

Persons: It's, TikTok, Chanel, trickier Organizations: Street, TikTok Locations: Seattle, China

☆ Some say 'deshopping' or returning already-worn clothes should be illegal. Others argue it's an invaluable marketing tool — so who's right?
▼ + stars: | 2023-07-25 | by ( Sara Davies | ) www.businessinsider.com time to read: +7 min

Last year, fashion returns created 750,000 tonnes of carbon-dioxide emissions in the UK. But shoppers who buy clothes with the intent of returning them after wearing them are adding fuel to the fire. The environment likely suffers from fashion returns a lot more than we dare to estimateStaff aren't the only ones that we need to consider. A big proportion of unwanted clothes that companies can't resell or recycle end up burned or in landfills. Last year, fashion returns were responsible for 750,000 tonnes of carbon-dioxide emissions in the UK.

Persons: Dani H, who's, —, Deshopping, Stuart Higgins, BearingPoint, wardrobing, Zeenia, Naqvee, PrettyLittleThing, aren't, Chloe Organizations: . Research, Service, Retailers, Marketing Management, Observer, Institute of Positive Locations: Wall, Silicon, Sheffield, England

☆ One consumer returns 95% of the clothes she buys online. Some say it should be illegal since it hurts workers and the environment, but companies don't seem to mind — heres why.
▼ + stars: | 2023-07-25 | by ( Sara Davies | ) www.businessinsider.com time to read: +7 min

Last year, fashion returns created 750,000 tonnes of carbon-dioxide emissions in the UK. Today, companies consider returns management to be more of a marketing tool, and handling returns well can help companies gain new customers and keep them coming back. The environment likely suffers from fashion returns a lot more than we dare to estimateStaff aren't the only ones that we need to consider. A big proportion of unwanted clothes that companies can't resell or recycle end up burned or in landfills. Last year, fashion returns were responsible for 750,000 tonnes of carbon-dioxide emissions in the UK.

☆ TikTok creators are raking in cash and scoring millions of views from its shopping affiliate program. Will it last?
▼ + stars: | 2023-07-17 | by ( Dan Whateley | Marta Biino | ) www.businessinsider.com time to read: +8 min

TikTok creators are raking in sales commissions from its new e-commerce program, TikTok Shop. TikTok has some requirements for who can join its TikTok Shop program. Some users work directly with brands on TikTok Shop promotions, while others simply choose eligible products from TikTok Shop sellers at a standard commission rate. Micro and nano influencers can also score big TikTok Shop paydaysCreators don't need to have millions or even hundreds of thousands of followers to make good money from TikTok Shop commissions. Natalie Park, a fashion, lifestyle, and college content creator with around 32,000 TikTok followers, also had a TikTok Shop video featuring a phone stand go viral.

Persons: Shayna Farnan, Farnan, Jeneen Sahtout, Shawn Jacobson, Jacobson, TikTok, Nicole Rechtszaid, Arlene Resendiz, Resendiz, Sharon Jayy, Grace Secrist, Alexander Jane, Natalie Park, I'm, what's, influencers, they'd Organizations: Walmart, CVS, TikTok, influencers, Ghost Agency, TikTop, Fund Locations: Pennsylvania, UK, Indonesia

☆ TikTokers are earning thousands in commissions from its new shopping program and scoring millions of views. Will it last?
▼ + stars: | 2023-07-14 | by ( Dan Whateley | Marta Biino | ) www.businessinsider.com time to read: +8 min

TikTok creators are raking in sales commissions from its new e-commerce program, TikTok Shop. TikTok has some requirements for who can join its TikTok Shop program. Micro and nano influencers can also score big TikTok Shop paydaysCreators don't need to have millions or even hundreds of thousands of followers to make good money from TikTok Shop commissions. Natalie Park, a fashion, lifestyle, and college content creator with around 32,000 TikTok followers, also had a TikTok Shop video featuring a phone stand go viral. "It's just a matter of sorting through the TikTok Shop and finding what's actually on there that's worth my time."

☆ Revolution Beauty says it could settle with shareholder Boohoo in coming days
▼ + stars: | 2023-07-10 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: A woman poses with a smartphone showing the Boohoo app in front of the Boohoo logo on display in this illustration taken September 30, 2020. REUTERS/Dado Ruvic/Illustration/File Photo(Reuters) - UK-based Revolution Beauty said on Monday it could reach a settlement with top shareholder Boohoo over board changes in the coming days, after the beauty products retailer said it will hold a general meeting on Aug. 7. British online fashion retailer Boohoo had in late June urged the company to call for a general meeting to remove executives including CEO Bob Holt from the board, a day after he was reappointed. Revolution on Monday also urged shareholders to follow its voting recommendation to vote against all of Boohoo’s proposed resolutions. Suspension on the shares of the company were lifted last month after the re-appointment of Holt, Chief Financial Officer Elizabeth Lake and Chairman Derek Zissman to the board.

Persons: Dado Ruvic, Boohoo, Bob Holt, Alistair McGeorge, Neil Catto, Boohoo’s, Holt, Elizabeth Lake, Derek Zissman Organizations: REUTERS

☆ Lehmann most influential women's player on Instagram ahead of World Cup
▼ + stars: | 2023-06-28 | by ( Lori Ewing | ) www.reuters.com time to read: +3 min

Lehmann told talkSPORT recently: "Some people just see Instagram and social media and don't even know I actually play football ... Lehmann, who scored six goals in 31 games for Aston Villa this season and has 38 caps, comes in ahead of Spain midfielder Alexia Putellas, U.S. striker Morgan, and England captain Leah Williamson, who will miss the World Cup with a knee injury. Each Instagram post from Lehmann and Putellas, who in 2021 was the first player to win the UEFA Women's Player of the Year, Ballon d'Or Feminin and The Best FIFA Women's Player award in the same year, deliver over $100,000 of media value to brands. The rankings, created ahead of the World Cup that kicks off on July 20 in Australia and New Zealand, are based on Nielsen's measurement tool InfluenceScope. Cristiano Ronaldo has the most Instagram followers among male players with over 530 million.

Persons: Alisha Lehmann, Alex Morgan, Jon Stainer, Nielsen InfluenceScope, MJ Jones, Roger Federer, Lehmann, talkSPORT, Alexia Putellas, Morgan, Leah Williamson, Putellas, Germany's Jule Brand, Megan Rapinoe, Jordyn Huitema, Alessia Russo, Sakina Karchaoui, Cristiano Ronaldo, Lori Ewing, Ken Ferris Organizations: Nielsen Sports, EA Sports, Coca, Twitter, Aston Villa, UEFA, FIFA, VfL Wolfsburg, Thomson Locations: MANCHESTER, England, Swiss, Spain, U.S, Nielsen's, Marta, Brazil, Canada, France, Australia, New Zealand

☆ Boohoo targets 'step-change' in U.S. fortunes with new warehouse
▼ + stars: | 2023-05-16 | by ( James Davey | ) www.reuters.com time to read: +2 min

Currently, orders placed in the United States, Boohoo's largest overseas market, are picked and packed in the United Kingdom then sent by plane to the United States, with delivery taking eight to 10 days. The warehouse in Elizabethtown, Pennsylvania, will open in late northern hemisphere summer, with the PrettyLittleThing brand, Boohoo's most popular in the United States, the first to go live. Shares in Boohoo were up 9% in late morning trading, paring losses over the last year to 47%. Boohoo expects sales to fall by 10% to 15% in the first half, before a return to growth in the second half. He noted that 2020 and 2021 were COVID years with trade skewed to athleisure wear, while trade in 2022 was skewed to occasion wear with post-COVID pent-up demand for events such as weddings.

☆ UK's Boohoo profit halves as shoppers squeezed
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

LONDON, May 16 (Reuters) - British online fashion retailer Boohoo (BOOH.L) reported a halving of annual core earnings as shoppers were hit by a cost-of-living crisis and many returned to physical stores post-pandemic. Sales at Boohoo and rival ASOS (ASOS.L) surged during COVID-19 when high street rivals were closed by lockdowns. But supply chain issues, higher product returns, competition from rivals like Shein and accelerating living costs have hit them hard. Boohoo does, however, expect an improved performance in its new financial year. It forecast 2023/24 revenue would be flat to down 5%, with a focus on profitable sales, and adjusted EBITDA of 69-78 million pounds, in line with market expectations.

☆ FTSE 100 edges up as consumer stocks offset Vodafone slump
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies FTSE 100 up 0.2%, FTSE 250 adds 0.1%May 16 (Reuters) - UK's main stock index edged up on Tuesday as weakness in the sterling supported some internationally-focused consumer firms, although Vodafone slumped after it forecast a big drop in fresh cash flow. The telecom giant's stock (VOD.L) fell 4% to become the top decliner on the FTSE 100 (.FTSE) after the company announced job cuts and forecast a 1.5 billion euro ($1.65 billion) decline in free cash flow this year. However, the blue-chip FTSE 100 rose 0.2% and the mid-cap FTSE 250 (.FTMC) added 0.1%. The currency's weakness lifted shares of dollar earners like Unilever Plc (ULVR.L) and British American Tobacco Plc (BATS.L). Industrial metals miners (.FTNMX551020) slipped 0.2%, tracking easing copper prices on investor worries of patchy economic recovery in top consumer China.

☆ ASOS reports first half loss as shoppers cut back
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

[1/2] New employees wait in the lobby on their first day of work at the ASOS headquarters in London April 1, 2014. REUTERS/Suzanne PlunkettLONDON, May 10 (Reuters) - ASOS (ASOS.L), Britain's one-time poster child for the shift to online fashion retailing, swung to a first half loss, hurt by a squeeze on household budgets and elevated product returns but said it was confident of a return to profit in the second half. Shares in ASOS have halved over the last year, with some analysts fearing it may need to raise further equity. ASOS ended the half with cash and undrawn facilities of 408.6 million pounds. Assuming no improvement to the external trading environment, it forecast a "low double-digit" decline in second half sales but with core earnings of 40-60 million pounds, reflecting its focus on profitable sales.

☆ Boohoo to pay $197 million settlement in class-action lawsuit alleging the retailer advertised fake discounts on PrettyLittleThing, Nasty Gal sites
▼ + stars: | 2023-05-03 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

UK retail giant Boohoo has agreed to pay $197 million to settle a California class-action lawsuit. The retailer was accused of falsely listing items as marked down even though they were never sold for the original price. The money will be distributed to over 9 million plaintiffs living in California. Boohoo announced it would settle the case for $197 million in April, but without admission of guilt, according to the claims administrator, KCC Class Action Services. Those eligible to receive some of the settlement include California residents who purchased products from the Boohoo brands between April 2016 and June 2022.

☆ Early Asos and Boohoo investor leads $10 million round in discount fashion marketplace startup Secret Sales
▼ + stars: | 2023-05-03 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

UK-based fashion marketplace startup Secret Sales has raised a $10 million Series B round. Clothing marketplace startup Secret Sales has raised $10 million in a round led by an early backer of fashion giants Asos and Boohoo despite a cooldown in investor interest in the sector. Some fast fashion retailers are under investigation by the Competition and Markets Authority for supposedly greenwashing how eco-friendly their fashion lines and manufacturing efforts have been. This allows brands to connect to Secret Sales in under two weeks, while legacy outlets take up to eight weeks, Griffin added. Secret Sales' "model is not just a small niche of a market, it's a vast market, and it scales potentially globally," said Iain McDonald, founder of Belerion Capital Group.

☆ Miners, energy firms drag FTSE 100 lower; Dr Martens hits record low
▼ + stars: | 2023-01-19 | by ( Johann M Cherian | ) www.reuters.com time to read: +2 min

SummarySummary Companies FTSE 100 sheds 0.6%, FTSE 250 off 1.0%Deliveroo achieves breakeven in second halfBoohoo's Christmas revenue drops 11%Dr Martens sinks to FTSE 250 bottom on annual profit warningJan 19 (Reuters) - UK's commodity-heavy FTSE 100 fell on Thursday, with energy firms and material stocks dragging the benchmark index lower, while shares of bootmaker Dr Martens slumped to a record low after its annual profit warning. The FTSE 100 (.FTSE) slid 0.6%, while the domestically-oriented FTSE 250 (.FTMC) shed 1.0%. Energy heavyweights Shell (SHEL.L) and BP (BP.L) fell below 1.7%, while industrial miners (.FTNMX551020) shed 1.8% as crude and copper prices declined after disappointing U.S. economic data and on worries about a hawkish Federal Reserve. Dr Martens (DOCS.L) sank 23.6%, after it warned of a lower annual profit and revenue due to operational issues at its new U.S. distribution centre. Reporting by Johann M Cherian in Bengaluru; Editing by Savio D'Souza and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Online retailer Boohoo sales drop 11% in Christmas period
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +1 min

LONDON, Jan 19 (Reuters) - British online fashion retailer Boohoo (BOOH.L) said revenue fell 11% in its key Christmas trading period, hurt by delivery disruption and tough comparatives, as it broadly stuck to annual guidance. Its forecast for a 12% decline in annual revenue was slightly behind the downgraded guidance for a 10% drop it gave in September. The sales fall during the Christmas period, the four months to the end of December, was partly due to longer delivery times, said Boohoo, and its UK market, where sales were also down 11%, was against a tough comparative period, as last year, COVID-19 meant shoppers favoured online orders. Those retailers noted that store sales benefited from delivery problems in Britain, where postal strikes, made people worry about orders turning up in time. Reporting by Sarah Young; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.

The pan-European STOXX 600 (.STOXX) was down 0.8% at 0929 GMT, and on track to snap a six-day winning streak. Energy stocks (.SXEP) fell 1.9%, tracking weakness in crude prices, after U.S. economic data stoked fears of recession in the world's largest economy. "Economic data remains noisy, making it hard to say for certain that the recent encouraging economic trends will continue," said Mark Haefele, chief investment officer at UBS Global Wealth Management. Dutch central bank chief Klaas Knot added to the chorus, saying markets may be underestimating planned rate hikes by the European Central Bank and investors should take more seriously its forecast to raise rates in multiples of 50 basis points. Investors are focussed on minutes from last month's European Central Bank meeting due later in the day, as well as an appearance from ECB President Christine Lagarde at the World Economic Forum in Davos.

☆ For bear stock pickers, 2023 is full of rich pickings
▼ + stars: | 2022-12-16 | by ( Nell Mackenzie | ) www.reuters.com time to read: +6 min

[1/2] Carson Block, Chief Investment Officer, Muddy Waters Capital LLC., speaks at the Sohn Investment Conference in New York City, U.S. May 4, 2016. Hedge fund Muddy Waters on Wednesday said it was shorting Vivion Investments, suspecting the real estate investment firm's portfolios were overvalued. Since the 2007-2008 global financial crisis, companies have pushed aggressive accounting to its limits, said Muddy Waters CEO Carson Block. People are milking the system," he said, adding that he expects even more aggressive accounting and fraud in 2023. Tighter monetary conditions and less readily available debt means investors will likely scrutinise company cash generation in 2023, Earl said.

☆ Sweden's H&M to lay off 1,500 staff in drive to cut soaring costs and rescue profits
▼ + stars: | 2022-11-30 | by ( Stine Jacobsen | ) www.reuters.com time to read: +3 min

The cuts by H&M, which employs roughly 155,000 people, are part of a plan laid out in September to save 2 billion Swedish crowns per year. "Keeping the lights and heating on in vast stores is becoming increasingly unaffordable with energy prices so volatile," she added. In contrast to H&M, Inditex reported in September quarterly sales growth and said it planned to hike prices to offset soaring costs. British fashion retailer Primark has announced plans to add 1,800 jobs in Spain and Britain as it expands. H&M said its savings would start to kick in from the second half of next year, while it will take a restructuring charge of 800 million Swedish crowns in the fourth quarter.

☆ ASOS warns on outlook as consumers feel inflation pain
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +2 min

ASOS and rival Boohoo (BOOH.L) were early pandemic winners as locked-down consumers shopped online but they have struggled as people returned to stores. The group said it needed to address problems with its supply chain, refresh its culture and the offer made to customers. The group said the move to "right-size" its stock portfolio in the first half would result in a non-cash write-off of 100- 130 million pounds. Capital expenditure is expected to be 175-200 million pounds, down from the previously guided 200-250 million pounds. ($1 = 0.8851 pounds)Register now for FREE unlimited access to Reuters.com RegisterReporting by James Davey; editing by Sarah YoungOur Standards: The Thomson Reuters Trust Principles.

☆ UK's Next cuts profit forecast as shoppers feel the squeeze
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +2 min

Next, which trades from about 500 stores and online, said it now expected full price sales in its second half of its financial year to fall 1.5%, and a full year pretax profit of 840 million pounds ($905 million), up 2.1% versus 2021-22. It previously forecast second-half full price sales growth of 1% and a full year pretax profit of 860 million pounds. The group reported a pretax profit of 401 million pounds for the six months to July, up 16%, with full price sales up 12.4%. read more read moreThe government also announced a raft of tax cuts and help on energy costs for both consumers and businesses, but the pound/U.S. ($1 = 0.9282 pounds)Register now for FREE unlimited access to Reuters.com RegisterReporting by James Davey; editing by Jason Neely and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

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