Friday, December 27

Tag: Retail/Wholesale

Luxury Stores Are Bursting With Unsold Stuff
9Dec By adminNo Comments
Money

Luxury Stores Are Bursting With Unsold Stuff

Fashionistas can smell blood. Luxury brands need to find ways to unload their growing pile of unsold stock without reeking of desperation.The luxury industry is slowing as shoppers sober up after their pandemic spending spree. In 2022, sales across the sector rose by 15% at constant exchange rates, according to Bain & Company estimates. But U.S. shoppers tightened their belts toward the end of last year, and Europeans followed this summer. The Chinese haven’t been spending as much as brands hoped either since Covid-19 restrictions were lifted in January. This year’s growth rate is expected to be around half what the industry managed in 2022. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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X Is Working to Lure Smaller Advertisers as Elon Musk Keeps Alienating Big Brands
8Dec By adminNo Comments
Technology

X Is Working to Lure Smaller Advertisers as Elon Musk Keeps Alienating Big Brands

X wants Facebook’s secret weapon: small businesses.The social-media site formerly known as Twitter largely relies on advertising revenue from the world’s largest brands. But since owner Elon Musk alienated some of the biggest spenders, finding a new customer base has become critical.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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China Auto Sales Continued Rising in November on Promotions, New-Energy Vehicle Sales
8Dec By adminNo Comments
World

China Auto Sales Continued Rising in November on Promotions, New-Energy Vehicle Sales

China’s vehicle sales continued rising in November, helped by sales of new-energy vehicles, clearance of fossil fuel cars and sales promotions.Retail sales of passenger cars in the world’s biggest auto market rose 26% on year and 2.4% on month to 2.08 million vehicles in November, the China Passenger Car Association said Friday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Shopping for Luxury Online Has Fallen Out of Fashion
7Dec By adminNo Comments
Money

Shopping for Luxury Online Has Fallen Out of Fashion

Stocks that unite two of the world’s most successful industries, European luxury and American tech, might sound like winners. Instead, companies that sell luxury goods online have turned into quicksand for investors.After a sales boom during the pandemic, online luxury stores are grappling with flagging demand and widening losses. Two New York-listed players, Farfetch and MyTheresa owner MYT Netherlands Parent, have lost around 90% of their market value since initial public offerings in 2018 and 2021, respectively.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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3 Reasons You Should Buy a Stick Vacuum—And 3 Reasons They Suck
7Dec By adminNo Comments
Technology

3 Reasons You Should Buy a Stick Vacuum—And 3 Reasons They Suck

JILL KOCH, 39, bought her first cordless vacuum because it was pink. “I didn’t look at the brand, I didn’t look at the price. I saw the color and was like, ‘I have to have it,’” said the Cincinnati-based home organization and cleaning blogger. Koch, who owns almost a dozen vacuums, says her newest cordless stick, the Shark Wandvac, gets the most use. She finds its motor powerful enough to handle most tasks. But more important, because of its sleek look, “it’s not even weird to store it in plain sight,” she said. Whenever she sees something that needs cleaning, that vacuum is within reach. She can clear the mess, dump out its dustbin into a trash can, and re-dock the vacuum in a minute or two.Cordless stick vacuums aren’t new—British manufacturer Dyson released its first cordless stick vac...
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Once Unstoppable, Alibaba Is Now Faltering
7Dec By adminNo Comments
World

Once Unstoppable, Alibaba Is Now Faltering

Updated Dec. 7, 2023 12:03 am ETSINGAPORE—Chinese internet titan Alibaba Group Holding once seemed invincible. Now, it is stuck in a slump.The e-commerce giant was a major driver of China’s growing consumer economy as it pioneered online shopping in China. Over the years, it also expanded into cloud computing, physical supermarkets and digital entertainment.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Switzerland Charges Trafigura and a Former Top Executive With Bribery
7Dec By adminNo Comments
Money

Switzerland Charges Trafigura and a Former Top Executive With Bribery

Updated Dec. 6, 2023 3:29 pm ETSwiss prosecutors charged a former top executive at Trafigura with facilitating payment of millions of dollars’ worth of bribes to land the energy trader preferential treatment in African oil producer Angola.Mike Wainwright helped to funnel part of the payments to an Angolan official, Swiss prosecutors said in an indictment at the Federal Criminal Court on Wednesday. These included more than 4.3 million euros, equivalent to $4.6 million, to a bank account in Geneva between 2009 and 2011, and $604,000 in cash payments in Angola. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Switzerland Charges Trafigura and a Former Top Executive With Bribery
6Dec By adminNo Comments
World

Switzerland Charges Trafigura and a Former Top Executive With Bribery

Updated Dec. 6, 2023 1:21 pm ETSwiss prosecutors charged a former top executive at Trafigura with facilitating payment of millions of dollars’ worth of bribes to land the energy trader preferential treatment in African oil producer Angola.Mike Wainwright allegedly helped to funnel the payments to an Angolan official, including some of more than 4.3 million euros, equivalent to $4.6 million, to a bank account in Geneva between 2009 and 2011, the Office of the Attorney General of Switzerland said when it announced the criminal charges on Wednesday. He also approved transactions that led to over $604,000 in cash payments in Angola, prosecutors said in an indictment at the Federal Criminal Court.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb...
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