Porsche SE Eyes Defense Investments as Tough Auto Market Prompts Guidance Cut
The company, which is controlled by the Porsche and Piech families, expects lower contributions from its key investments in automakers Volkswagen VOW3 -0.18%decrease; red down pointing triangle and Porsche.
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Yahoo
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- Yahoo
Well-heeled shoppers shrug off price hikes for Birkenstocks and Bugaboo strollers for now
By Helen Reid LONDON (Reuters) -Well-heeled shoppers around the United States seem - so far at least - willing to soak up price hikes for aspirational products from trendy Birkenstock sandals to Bugaboo prams, despite the impact of trade tariffs and belt-tightening elsewhere. German sandal and clog brand Birkenstock has enjoyed strong consumer demand with little pushback from U.S. retailers since hiking prices at the start of July, its chief executive said on Thursday. As brands raise prices and cut costs to mitigate the impact of higher U.S. tariffs on their imported products, a key question is the extent to which consumers will be put off and buy less, or simply walk away from purchases. Comments from Birkenstock, Bugaboo, Coach, Ralph Lauren and other brands at the premium end of the market suggest that, so far, affluent consumers are shrugging off price hikes. "We saw no pushback or cancellations following the July 1st price increases implemented in response to tariffs," Birkenstock CEO Oliver Reichert told analysts on a call, adding demand for the brand has been "tremendously strong." Bank of America, the largest consumer facing U.S. bank, said this week that middle- and upper-income earners spent more on their credit cards in July than the same month last year. In contrast, spending among the lowest income bracket remained flat, the bank found. Overall U.S. consumer spending may stay strong, Bank of America said, as long as higher-income individuals keep spending. Lower-income earners account for only 15% of all U.S. consumer spending, according to Bank of America. However, Procter & Gamble, maker of Tide detergent, reported signs of spending cutbacks among higher-income consumers, indicating that shoppers may be becoming more selective with their purchases. Bugaboo, a Netherlands-based maker of expensive baby gear, also raised prices on its strollers, high chairs and play pens by $50-$300 in May because of U.S. tariffs. Retailers were open and accepting. "In general we did not see any pushback. They are like us. They understand it is a fluid situation," Chief Commercial Officer for North America, Jeanelle Teves, said. Bugaboo manufactures in China and sells strollers for more than $1,000 at Target, Nordstrom, Bloomingdales and independent mom and pop stores. Coach handbags also remain in strong demand despite a gloomier economic outlook: the brand drew in more than 4.6 million new customers in North America this year, many of whom are Gen Z and millennials, Tapestry CEO Joanne Kuvoiserat said on Thursday. Coach, whose popular Tabby shoulder bags retail for $350, will maintain its operating profit margin despite the pressure of tariffs, Kuvoiserat said. Ralph Lauren, meanwhile, raised its annual revenue forecast as shoppers snapped up items like its $398 Polo Bear sweaters. But consumers' behavior in the coming months remains hard to predict, CEO Patrice Louvet highlighted on a conference call with analysts. "The bigger unknown here today is the price sensitivity and how the consumer reacts to the broader pricing environment. So that's what we're watching very closely as we head into the second half." Sign in to access your portfolio
Bloomberg
3 minutes ago
- Bloomberg
Romanian Premier Vows Deeper Spending Cuts to Avoid Default Risk
Romania's new prime minister warned his country could face a default unless the government quickly reins in years of lavish spending. Premier Ilie Bolojan said in an interview with Bloomberg News on Thursday that he sees the next six months as crucial for his administration to impose a series of radical austerity measures despite growing public discontent and tensions within the ruling coalition.
Yahoo
an hour ago
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Dodge Showcases New 2026 Muscle Lineup at Woodward Cruise
AUBURN HILLS, Mich., Aug. 14, 2025 /PRNewswire/ -- Dodge is back on Woodward with the brand's new 2026 muscle lineup at North America's largest one-day automotive event 550-horsepower SIXPACK-powered 2026 Dodge Charger Scat Pack, the most powerful vehicle in the industry under $55,000, makes its Cruise debut in the Dodge Woodward Cruise display 670-horsepower, all-electric Dodge Charger Daytona Scat Pack, the most powerful vehicle in the industry under $60,000, showcases new multi-energy Charger lineup Dodge Durango SRT Hellcat Jailbreak, which unlocks more than six million potential customization combinations, and new 5.7-liter HEMI®-powered Dodge Durango GT vehicles on display at Woodward callout new all-HEMI, all the time Durango lineup Switch Auto Insurance and Save Today! The Insurance Savings You Expect Affordable Auto Insurance, Customized for You Great Rates and Award-Winning Service Dodge is driving into Woodward Cruise weekend on Saturday, August 16, in Metro Detroit with a new lineup of 2026 model-year muscle, including the new SIXPACK-powered Dodge Charger Scat Pack, Dodge Durango SRT Hellcat Jailbreak and 5.7-liter HEMI®-powered Dodge Durango GT. For the fifth year in a row, Dodge will team up with the Modern Street HEMI Shootout car club for a prime location at North America's largest one-day automotive event, which draws over a million car lovers to the annual cruise. Dodge provided an early start to the action on Woodward Avenue with the new 2026 Dodge Charger Scat Pack reveal on August 8 and the 10th edition of Roadkill Nights Powered by Dodge on August 9, unleashing street-legal drag racing and new Dodge muscle debuts on Woodward. On August 16, Dodge will be back on Woodward in full force with its muscle lineup, including: Twin-turbocharged SIXPACK-powered 2026 Dodge Charger Scat Pack, the most powerful vehicle in the industry under $55,000, features 550 horsepower, clocks a 3.9-second 0-60 time, runs the quarter-mile in 12.2 seconds with a top speed of 177 mph and features standard all-wheel drive when you need it, rear-wheel drive when you want it 670-horsepower, all-electric Dodge Charger Daytona Scat Pack, the most powerful vehicle in the industry under $60,000, reaches 0-60 in a time of 3.3 seconds 2026 Dodge Durango SRT Hellcat Jailbreak opens up a can of crazy on the supercharged, 6.2-liter HEMI Hellcat V-8 engine-powered Durango, unlocking more than six million potential customization combinations; pre-production Jailbreak models in the new-for-2026 model-year Green Machine paint color and a custom Stryker Purple paint will be on display HEMI-powered, all-wheel-drive 2026 Dodge Durango GT models, starting with orders placed August 13, and every Dodge Durango — from the well-equipped entry GT model to the SRT Hellcat — will, for the first time, come standard with a legendary HEMI V-8 engine The Dodge Direct Connection display offers cruisers the chance to check out a variety of performance parts and crate motors from the Dodge performance parts brand. Attendees can test their knowledge of Dodge brand and Dodge vehicle trivia for the chance to win Dodge swag, and Dodge product specialists will be on hand to answer questions. The Dodge display at the annual Woodward Cruise event will be located at St. George Greek Orthodox Church at 43816 Woodward Avenue, just north of East Square Lake Road in Bloomfield Township, and will be open from 10 a.m. to 6 p.m. on Saturday, August 16. For more information on the Dodge brand, visit and DodgeFor 111 years, the Dodge brand has carried on the spirit of brothers John and Horace Dodge. Their influence continues today as Dodge, America's performance brand, shifts into high gear with a lineup that delivers unrivaled performance in each of its segments. The new, next-generation Dodge Charger muliti-energy lineup is led by the 670-horsepower Dodge Charger Daytona Scat Pack – the world's quickest and most powerful muscle car. For 2026, the all-new 550-horsepower Dodge Charger Scat Pack, powered by the 3.0L Twin Turbo SIXPACK H.O. engine, expands the Charger lineup, powered by the most powerful Hurricane engine in production. Dodge also keeps its foot on the pedal as a pure performance brand with the 710-horsepower Dodge Durango SRT Hellcat, the most powerful gas engine SUV ever, and best-in-class standard performance in the compact-utility vehicle segment with the Dodge Hornet. Dodge is part of the portfolio of brands offered by leading global automaker and mobility provider Stellantis. For more information regarding Stellantis (NYSE: STLA), please visit Follow Dodge//SRT and company news and video on:Company blog: website: brand: Connection: and @StellantisNAYouTube: View original content to download multimedia: SOURCE Stellantis Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
