Latest news with #JuveriaTabassum
USA Today
22-05-2025
- Business
- USA Today
Nike to raise prices and return to Amazon in major strategic move
Nike to raise prices and return to Amazon in major strategic move Show Caption Hide Caption 'Heartbeat' and 'Brilliant' kits unveiled for USWNT, USMNT U.S. Soccer on May 13 unveiled the 2025 Nike U.S. National Team Kit Collection, introducing new kits for the men's and women's teams . U.S. Soccer Nike NKE.N is planning to raise prices of some products from next week and will sell items on Amazon AMZN.O after six years, the company said on Wednesday. The footwear retailer will increase prices on apparel and equipment for adults between $2 and $10, while those priced between $100 and $150 will see a $5 hike, it said. The company sources a significant portion of its footwear from China and Vietnam. With the critical back-to-school shopping season approaching, Nike will not raise prices for children's products. "We regularly evaluate our business and make pricing adjustments as part of our seasonal planning," Nike said. Prices for shoes costing more than $150 will increase by up to $10, while products costing less than $100 will not see any hike. Nike's Air Force 1 shoes, which cost $155, are exempt from the increase. CNBC first reported on the price increases. German sportswear brand Puma said earlier this month it had reduced shipments from China to the U.S. and might increase prices in the country due to tariffs. More Nike news: Nike is releasing dirty Air Force 1s, social media is perplexed Back at Amazon Nike will be back on Amazon as the footwear maker works to regain market share from newer and trendier competitors amid a turnaround push under CEO Elliott Hill. Nike's products on Amazon are currently sold by independent merchants, and the company stopped selling on the e-commerce platform in 2019 as it shifted focus to sales on its own websites and in stores. Its return to Amazon in the U.S. was part of its investments in its marketplace to reach more consumers, which also included expanding to new physical retailers such as department store chain Printemps. North America was Nike's biggest market by total revenue, as of 2024. Amazon notified some of those merchants that it will ban them from selling certain Nike products from July 19 as it was working with Nike directly, the Information reported, citing a message sent to merchants by the company. "We're providing an extended period of time for the small number of sellers affected to sell through their inventory of overlapping items," an Amazon spokesperson said. Reporting by Juveria Tabassum in Bengaluru; Editing by Mohammed Safi Shamsi and Arun Koyyur
Business of Fashion
07-05-2025
- Business
- Business of Fashion
Coty Cuts Annual Profit Forecast
CoverGirl parent Coty cut its annual profit forecast on Tuesday, signalling soft demand for cosmetics in the United States amid inflationary pressures. The company's shares fell about 2 percent in extended trading. They have fallen about 25 percent so far this year. Coty has been struggling with retailers in the US destocking due to weak demand from consumers, who are facing the impact of still-high inflation. Weakness in travel retail business at airports in Asia has also hurt beauty retailers, with cosmetics giant Estée Lauder flagging a sputtering recovery in demand for beauty products in key China market. Coty expects 2025 per-share profit to be between 49 and 50 cents, compared with its prior forecast of 50 to 52 cents. By Juveria Tabassum; Editing by Shilpi Majumdar Learn more: Coty to Cut 700 Jobs As Part of Cost-Saving Initiative The American beauty conglomerate announced on Thursday that a newly enhanced cost-saving programme will cull 700 jobs across the globe, around 5 percent of its workforce.
Yahoo
24-04-2025
- Business
- Yahoo
Procter & Gamble lowers annual forecasts as trade war hits consumer demand
By Jessica DiNapoli, Juveria Tabassum (Reuters) -Procter & Gamble on Thursday lowered its annual sales and profit forecasts after reporting a bigger-than-expected drop in third-quarter net sales as consumers slashed spending due to economic uncertainty amid an ongoing trade war. U.S. President Donald Trump's sweeping tariffs on imports have left global markets reeling and given rise to fears of a recession in the United States, the biggest market for consumer goods maker P&G, whose products include Tide detergent. As sentiment takes a hit and global supply chains unravel, several companies have lowered their expectations for the year as consumers see their budgets being stretched. A P&G spokesperson said the company saw U.S. shoppers slow their spending in February and March in particular. The firm, a bellwether for consumer goods, now expects total net sales for fiscal 2025 to be roughly in line with the prior fiscal year, compared with its earlier target of 2% to 4% growth. Those expectations include some assumptions about the impact of tariffs, the spokesperson said, adding that the company still does not know the full extent of how they will affect its costs. P&G imports raw ingredients, packaging materials and some finished products to the United States from China, while goods it makes in the United States and exports to Canada could also be hit by tariffs, the spokesperson said. But the vast majority - roughly 90% - of what P&G sells in the United States is produced domestically, the spokesperson added. P&G previously said it may have to hike prices to offset tariffs. Sellers of consumer staples like toilet paper and dish soap are typically considered safe havens during turbulent economic times, under the assumption that consumers will continue to buy necessities. But P&G, whose products command a premium on the shelves of retailers like Walmart and Target, faces a growing threat from the stores' private label brands. P&G competitor Reckitt saw sales volumes decline in Europe and North America on Wednesday. After hiking prices significantly over the last several years, P&G executives have said they will rely less on that strategy to grow sales. The company raised prices by 1% this quarter, and volumes fell 1%. The company expects annual core earnings per share in the range of $6.72 to $6.82, down from its prior target of $6.91 to $7.05. P&G's third-quarter net sales fell 2% to $19.78 billion, compared with analysts' average estimate of a 0.44% fall to $20.11 billion, according to data compiled by LSEG. The company has faced weak demand through this fiscal year in China due to a choppy macroeconomic background. This has hurt overall volume growth, even as P&G invests in introducing new products and different price tiers in markets such as the United States and Latin America.
Yahoo
23-04-2025
- Business
- Yahoo
P&G's earnings forecast in spotlight as uncertainty plagues consumer spending
By Juveria Tabassum (Reuters) - Procter & Gamble's annual targets will be in focus when the consumer goods bellwether reports third-quarter results on Thursday, with some analysts expecting a forecast cut due to uncertainty around spending amid global trade tensions. U.S. President Donald Trump's reciprocal tariffs on several trading partners have roiled global markets and raised fears of global retaliation, a potential trade war, renewed inflation and an eventual recession in the United States. Consumer spending in several categories is expected to remain pressured this year, and for global consumer goods companies such as P&G the threat of even higher prices could affect demand. Smaller rival Kimberly-Clark lowered its annual profit target on Tuesday and warned that tit-for-tat tariffs could drive up the Kleenex maker's input costs. "The time has come for the majority of consumer staples companies to cut their earnings forecasts significantly ... investors are looking for visibility and can't find it in the most visible of sectors like consumer staples," RBC Capital Markets analyst Nik Modi said. While consumer staples have typically performed well during times of economic and market turmoil, more-frequently occurring exogenous shocks were leading to volatility in companies' results and weakening performance consistency for consumer staples, Modi added. In February, Procter & Gamble executives at an industry conference said the company was willing to adjust its short-term forecast as Trump's tariff policy created some pressure on moving raw materials and finished product across borders at a time when consumers were pulling back on spending. "With trends moderating across the U.S. and Europe ... we think hitting organic revenue and EPS guidance (for P&G) will prove to be difficult," UBS analyst Peter Grom said last week. The company in January maintained its fiscal 2025 forecasts of sales growth in the range of 2% to 4%, and annual core earnings between $6.91 and $7.05 per share. Still, P&G's extensive portfolio of about 80 brands, as well as its recent efforts in introducing new products, such as the Tide Evo detergent, and offering smaller pack sizes, could help provide some protection from weak spending, analysts have said. "Consumers may be quick to trade down on snacks or skip them altogether, but could be less likely to abandon grooming or personal care brands they've used for years," EMarketer analyst Blake Droesch said. P&G's third-quarter revenue is expected to drop 0.4% to $20.11 billion, while its earnings per share is expected to rise marginally to $1.53, according to data compiled by LSEG.
Yahoo
23-04-2025
- Business
- Yahoo
P&G's earnings forecast in spotlight as uncertainty plagues consumer spending
By Juveria Tabassum (Reuters) - Procter & Gamble's annual targets will be in focus when the consumer goods bellwether reports third-quarter results on Thursday, with some analysts expecting a forecast cut due to uncertainty around spending amid global trade tensions. U.S. President Donald Trump's reciprocal tariffs on several trading partners have roiled global markets and raised fears of global retaliation, a potential trade war, renewed inflation and an eventual recession in the United States. Consumer spending in several categories is expected to remain pressured this year, and for global consumer goods companies such as P&G the threat of even higher prices could affect demand. Smaller rival Kimberly-Clark lowered its annual profit target on Tuesday and warned that tit-for-tat tariffs could drive up the Kleenex maker's input costs. "The time has come for the majority of consumer staples companies to cut their earnings forecasts significantly ... investors are looking for visibility and can't find it in the most visible of sectors like consumer staples," RBC Capital Markets analyst Nik Modi said. While consumer staples have typically performed well during times of economic and market turmoil, more-frequently occurring exogenous shocks were leading to volatility in companies' results and weakening performance consistency for consumer staples, Modi added. In February, Procter & Gamble executives at an industry conference said the company was willing to adjust its short-term forecast as Trump's tariff policy created some pressure on moving raw materials and finished product across borders at a time when consumers were pulling back on spending. "With trends moderating across the U.S. and Europe ... we think hitting organic revenue and EPS guidance (for P&G) will prove to be difficult," UBS analyst Peter Grom said last week. The company in January maintained its fiscal 2025 forecasts of sales growth in the range of 2% to 4%, and annual core earnings between $6.91 and $7.05 per share. Still, P&G's extensive portfolio of about 80 brands, as well as its recent efforts in introducing new products, such as the Tide Evo detergent, and offering smaller pack sizes, could help provide some protection from weak spending, analysts have said. "Consumers may be quick to trade down on snacks or skip them altogether, but could be less likely to abandon grooming or personal care brands they've used for years," EMarketer analyst Blake Droesch said. P&G's third-quarter revenue is expected to drop 0.4% to $20.11 billion, while its earnings per share is expected to rise marginally to $1.53, according to data compiled by LSEG. Sign in to access your portfolio
