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Yahoo
25 minutes ago
- Yahoo
Next hikes outlook after sales boosted by weather and M&S woes
Next has upped its annual sales and profit outlook once again after better-than-expected trading thanks to hot weather and disruption at cyber attack struck rival Marks & Spencer. The womenswear and homewares chain posted a 10.5% rise in full-price sales for the second quarter to July 26, with growth of 10.9% for the half-year as a whole. In the UK, sales jumped by 7.8% in the second quarter as the group said it was boosted by 'better than expected weather and trading disruption at a major competitor'. M&S had to suspend online trading for nearly two months from mid-April after it was hit by a major hack. Next said the recent performance and forecasts for better-than-forecast second half trading means it now expects full-year sales to rise by 7.5% and for profits to increase by 9.3% to £1.11 billion. It had previously pencilled in sales growth of 6% and for profits to lift by 6.8%. The upgrade marks the group's third in just five months. But Next said it 'remains cautious for the second half', stressing that the improved outlook is for its international arm over the next six months. It said: 'In the UK, we believe we exceeded expectations in the second quarter as a result of better summer weather and trading disruption at a major competitor. 'We do not expect either of these factors to have a material effect in the second half, and so we are not increasing our guidance for UK sales in the second half.' It believes sales growth in the UK will slow sharply to 1.9% as the jobs market starts to falter following the Government's move to hike National Insurance contributions for employers, at the same time as rising the minimum wage. Next said: 'We expect UK employment opportunities to continue to diminish as we enter the second half, with the effects of April's National Insurance changes continuing to filter through into the economy as the year progresses. 'We believe that this will increasingly dampen consumer spending as the year progresses.' But an online marketing push for its international arm is bearing fruit, helping drive sales 28.1% higher in the first half and with growth of 19.4% now expected in the final six months. The results come after Next announced late on Wednesday that it had bought Seraphine – the maternity fashion firm, whose clothes were worn by the Princess of Wales during her pregnancies – after it recently collapsed into administration. Next paid £600,000 for the brand and announced it was bringing back Seraphine's founder Cecile Reinaud as an adviser to help relaunch the fashion label.
Business Wire
26 minutes ago
- Business Wire
Sensorion Announces Its Participation In Upcoming Investor Conferences
MONTPELLIER, France--(BUSINESS WIRE)--Regulatory News: Sensorion (FR0012596468 – ALSEN) a pioneering clinical-stage biotechnology company specializing in the development of novel therapies to restore, treat and prevent hearing loss disorders, today announced its participation in upcoming investor conferences to be held in September and October 2025. Nawal Ouzren, Chief Executive Officer of Sensorion, and Laurene Danon, Chief Financial Officer, will attend the following events: 27th Annual H.C. Wainwright Global Investment Conference, to be held in New York City, USA, on September 8-10, 2025. Baird 2025 Global Healthcare Conference, to be held in New York City, USA, on September 9-10, 2025. European Midcap Event (CF&B), to be held at the Four Seasons Hôtel George V in Paris, France, on September 30 and October 1, 2025. Portzamparc Biotech & Health Seminar, taking place virtually on October 1-2, 2025. Chardan's 9 th Annual Genetic Medicines Conference, to be held in New York City, USA, on October 21, 2025. If you would like to meet members of Sensorion's management team at any of these events, please contact us by email at About Sensorion Sensorion is a pioneering clinical-stage biotech company, which specializes in the development of novel therapies to restore, treat, and prevent hearing loss disorders, a significant global unmet medical need. Sensorion has built a unique R&D technology platform to expand its understanding of the pathophysiology and etiology of inner ear related diseases, enabling it to select the best targets and mechanisms of action for drug candidates. It has two gene therapy programs aimed at correcting hereditary monogenic forms of deafness, developed in the framework of its broad strategic collaboration focused on the genetics of hearing with the Institut Pasteur. SENS-501 (OTOF-GT) currently being developed in a Phase 1/2 clinical trial, targets deafness caused by mutations of the gene encoding for otoferlin and GJB2-GT targets hearing loss related to mutations in GJB2 gene to potentially address important hearing loss segments in adults and children. The Company is also working on the identification of biomarkers to improve diagnosis of these underserved illnesses. Sensorion's portfolio also comprises programs of a clinical-stage small molecule, SENS-401 (Arazasetron), for the treatment and prevention of hearing loss disorders. Sensorion's small molecule progresses in a Phase 2 proof of concept clinical study of SENS-401 in Cisplatin-Induced Ototoxicity (CIO) for the preservation of residual hearing. Sensorion, with partner Cochlear Limited, completed in 2024 a Phase 2a study of SENS-401 for the residual hearing preservation in patients scheduled for cochlear implantation. A Phase 2 study of SENS-401 was also completed in Sudden Sensorineural Hearing Loss (SSNHL) in January 2022. Disclaimer This press release contains certain forward-looking statements concerning Sensorion and its business. Such forward looking statements are based on assumptions that Sensorion considers to be reasonable. However, there can be no assurance that such forward-looking statements will be verified, which statements are subject to numerous risks, including the risks set forth in the 2024 full year report published on March 14, 2025, and available on our website and to the development of economic conditions, financial markets and the markets in which Sensorion operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Sensorion or not currently considered material by Sensorion. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Sensorion to be materially different from such forward-looking statements. This press release and the information that it contains do not constitute an offer to sell or subscribe for, or a solicitation of an offer to purchase or subscribe for, Sensorion shares in any country. The communication of this press release in certain countries may constitute a violation of local laws and regulations. Any recipient of this press release must inform oneself of any such local restrictions and comply therewith.
CNBC
an hour ago
- CNBC
CNBC Daily Open: Is India is the first to face Trump's 'secondary' tariff on Russia?
In the frenzied run-up to Friday, Aug. 1 — the day when U.S. President Donald Trump's new tariffs come into effect (no more delays!) — America's major trading partners such as Japan, the European Union and now, South Korea, have come to an agreement with the country. All of them will be subject to 15% tariffs on U.S. imports of their goods. But India? Not only has there not been a deal yet, Trump unilaterally imposed a 25% tariff on the South Asian country — a higher-than-expected number, as analysts had widely expected India to secure a favorable deal with America. Worse, the tariff will exist alongside an additional "penalty," which Trump said is the price India has to pay for its military and energy transactions with Russia. That essentially sounds like the "secondary tariff" Trump had previously threatened to slap on Moscow. In doing so, Trump's actions seem to be suggesting that the White House's trade policies is not based simply on the balance of trade, as Trump is fond of bringing up, or even how much he likes you — see his admiration of the U.K.'s King Charles and the country's 10% tariff rate. It's also about who your friends are. Essentially, Trump appears to be implying that, even if you are an up-and-coming influential figure, if you hang out with the uncool kids (who buy Russian arms), you can't sit with us. Perhaps Trump can afford to alienate allies because the U.S. economy is still unexpectedly strong. It expanded 3% in the second quarter, much higher than the 2.3% Dow Jones estimate, and Magnificent Seven earnings are handily topping estimates. Much has been discussed about the decline of American exceptionalism, but, for now, the U.S. is still the queen bee. The Federal Reserve holds interest rates. The Federal Open Market Committee voted 9-2 on the decision — the first time since late 1993 that multiple governors cast "no" votes. Chair Jerome Powell said the Fed still needs to see the effects of tariffs on inflation. India to pay 25% tariffs on exports to the U.S. On top of that, Trump said Wednesday that the South Asian country will also face a "penalty" for dealing with Russia. Separately, South Korea has reached a deal with the U.S. that will see it subject to a 15% tariff rate, Trump announced. Meta Platforms and Microsoft beat earnings expectations. Year on year, Meta's revenue grew 22%, while that of Microsoft increased 18%. During extended trading, Microsoft shares jumped more than 8% to put the company's market cap above $4 trillion. U.S. stocks are weighed by Fed conference. The S&P 500 fell Wednesday. Asia-Pacific markets mostly declined Thursday. Shares of Samsung Electronics retreated after the firm reported a 93.8% year-over-year plunge in profit. Chinese markets fell on disappointing data on the country's manufacturing activity in July. [PRO] Investors are aggressively borrowing money to buy stocks. It's a sign of market exuberance, according to Jim Reid, head of macro and thematic research at Deutsche Bank, who added that this pace was last seen during market bubbles. Trump's tariff deadline is near. Here's a look at countries that have a deal — and those that don't Come Friday, the world will have to contend with higher tariff rates from the Trump administration, raising the specter of even more economic uncertainty. For most countries, that can of worms has been kicked twice down the road, from "Liberation Day" on April 2, to July 9, and now to Aug. 1. Here are where things stand in global trade. —
