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Reuters
16 hours ago
- Business
- Reuters
Discount retailer B&M misses annual sales forecast as inflation hits UK demand
June 4 (Reuters) - Discount retailer B&M (BMEB.L), opens new tab reported annual sales of 5.6 billion pounds ($7.57 billion) on Wednesday, falling short of expectations, as waning consumer demand and persistent inflation hampered its UK operations. ($1 = 0.7402 pounds)
Zawya
2 days ago
- Business
- Zawya
Jordan: Businesses report strong sales ahead of Eid Al Adha
AMMAN — As Eid Al Adha approaches, economic activity across various sectors in Jordan is witnessing a notable surge, driven by heightened consumer demand and traditional holiday preparations. From livestock markets and clothing stores to bakeries and beauty salons, businesses are reporting a seasonal uptick that provides a welcome boost amid persistent economic pressures. The garment and fashion sector, which has faced a challenging year due to inflation and shifting consumer habits, is showing signs of recovery as families shop for new clothes ahead of the holiday. 'In the last ten days to two weeks, our sales have nearly doubled compared with a normal month,' said Hala Abdulla, manager and founder of a women's clothing boutique in Amman. 'Customers are looking for elegant but affordable outfits. Eid is still a time to dress up and feel joy, especially for children.' Bakeries and sweets shops are also ramping up production to meet increased demand for traditional treats such as ma'amoul, a beloved sweet served during holiday gatherings and visits. 'We increased production by 40 to 50 per cent this week,' said Mahmoud Issawi, an employee at a well-known bakery in Amman. 'It's a hectic period, but it's rewarding. Our ma'amoul trays are being pre-ordered days in advance.' In downtown Amman's Al Balad area, Salma Hussein, a mother of three, said she's doing her best to preserve the spirit of Eid despite financial constraints. 'We've had to cut back on many things, but we always try to make Eid feel special. The children look forward to new clothes, sweets, family visits; they need to experience the joy, even in a modest way.' Despite ongoing economic challenges, Eid Al Adha continues to invigorate a wide spectrum of Jordan's economy, offering a brief yet meaningful season of revival, community, and celebration. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. ( maria weldali
Yahoo
6 days ago
- Business
- Yahoo
Saudi Arabia's LED TV Market: Overcoming Import Dependency through Vision 2030 and Driving High-Definition Content Demand
The Saudi Arabia LED TV market is driven by rising demand for smart, energy-efficient TVs with high-definition displays. Growth is supported by the popularity of online streaming platforms, technological advancements, and increasing affordability. However, high import dependency poses challenges for market stability. Saudi Arabian LED TV Market Dublin, May 30, 2025 (GLOBE NEWSWIRE) -- The "Saudi Arabia LED TV Market by Region, Competition, Forecast & Opportunities, 2020-2030F" has been added to offering. The Saudi Arabia LED TV Market was valued at USD 110.23 Million in 2024 and is projected to reach USD 245.87 Million by 2030, rising at a CAGR of 14.31%. Market growth is being fueled by rising consumer demand for high-definition, energy-efficient, and aesthetically sleek home entertainment solutions. The increasing penetration of smart TVs, which enable internet access and integrated streaming services, is a major contributor to this expansion. As LED TV prices become more affordable, adoption rates are climbing across diverse income segments. Technological advancements - such as OLED, QLED, voice control, and smart home compatibility - are enhancing user experience and further stimulating demand. Additionally, rising disposable income, urbanization, and digital media consumption trends in emerging economies are reinforcing growth in the Saudi market. Key Market Drivers: Rising Demand for Online Streaming The increasing popularity of online streaming platforms is a major catalyst for the Saudi LED TV market. With a surge in consumer preference for on-demand and localized digital content, smart TVs with built-in streaming applications have become central to the home entertainment ecosystem. Streaming services such as Shahid, Netflix, and YouTube have seen rapid adoption due to improved internet infrastructure and widespread digital literacy. This shift has elevated consumer expectations for high-quality viewing experiences, prompting upgrades to LED TVs that support Ultra HD resolutions and seamless connectivity. Affordable smart TV models from both global and regional brands have broadened market access, reinforcing LED TVs as essential household devices amid the growing digital media landscape. Key Market Challenges: High Import Dependency Saudi Arabia's heavy reliance on imported LED TVs from major manufacturing hubs like China, South Korea, and Vietnam remains a structural vulnerability. This dependence makes the market susceptible to external risks including supply chain disruptions, tariffs, and foreign exchange volatility. The absence of a strong domestic manufacturing base also limits the potential for localized innovation, pricing control, and customization to meet regional consumer preferences. Although economic diversification under Vision 2030 seeks to reduce import dependency, establishing a competitive local production ecosystem for LED TVs necessitates long-term investment in infrastructure, skilled labor, and technology transfer. Key Market Trends: Rising Adoption of Ultra HD (4K/8K) Displays The Saudi LED TV market is seeing a notable shift toward Ultra HD displays, including 4K and 8K models. These advanced displays deliver superior resolution, deeper color saturation, and enhanced contrast - qualities that align with rising consumer demand for premium content consumption experiences. The falling cost of UHD TVs has brought them within reach of a broader consumer base, leading to increased upgrade cycles from standard HD units. Market players are capitalizing on this trend by offering features such as HDR, Dolby Vision, and AI-powered upscaling. Additionally, smart Ultra HD TVs equipped with integrated voice assistants and home automation features align with Saudi Arabia's broader smart home adoption trend, further supporting market momentum. Key Players Profiled in this Saudi Arabia LED TV Market Report: Samsung Electronics Co., Ltd LG Electronics Inc. Panasonic Marketing Middle East & Africa FZE Sony Middle East and Africa FZE TCL Hisense Middle East Sharp Corporation Xiaomi Koninklijke Philips N.V. Havells Group Report Scope: In this report, the Saudi Arabia LED TV Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below: Saudi Arabia LED TV Market, by Type: High Definition (HD) Full High Definition (FHD) Ultra High Definition (UHD) Saudi Arabia LED TV Market, by Screen Size: Below 30' 30'-39' 40'-47' 50'-57' Above 57' Saudi Arabia LED TV Market, by Distribution Channel: Multi-Branded Stores Supermarkets/Hypermarkets Online Others Saudi Arabia LED TV Market, by Region: Eastern Western Northern & Central Southern Key Attributes: Report Attribute Details No. of Pages 82 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $110.23 Million Forecasted Market Value (USD) by 2030 $245.87 Million Compound Annual Growth Rate 14.3% Regions Covered Saudi Arabia For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Saudi Arabian LED TV Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error 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
Globe and Mail
6 days ago
- Business
- Globe and Mail
Best Buy cuts annual profit forecasts on U.S. tariff uncertainty
Best Buy Co. Inc. BBY-N slashed its full-year comparable sales and profit forecasts on Thursday amid concerns that U.S. tariffs would weigh on consumer demand for big-ticket items such as appliances, home theatres and gaming consoles. Shares of the company were down 2 per cent in premarket trading after it also posted a bigger drop in first-quarter sales than analysts had expected. American households are in limbo as they battle higher borrowing costs, with tariffs now fuelling concerns of price surges on everything from toys to groceries and sneakers. Best Buy chief financial officer Matt Bilunas said the forecast accounted for the impact from levies, assuming they stay at the current levels for the rest of the year, and 'no material change in consumer behaviour from the trends we have seen in recent quarters.' The company is heavily reliant on imports from China, its biggest manufacturing hub, for products such as gaming consoles, audio equipment, cameras and drones, according to Telsey Advisory Group analyst Joe Feldman. Its executives have said earlier that about 60 per cent of the company's overall cost of goods sold came from China, with the next largest country being Mexico at about 20 per cent and almost no domestic sourcing. Retail giant Walmart Inc. WMT-N signalled soft demand in big-ticket discretionary merchandise in its most recent quarterly earnings, while the economic uncertainty has forced several other retailers to shelve their annual targets altogether. The top U.S. electronics retailer expects fiscal 2026 comparable sales in the down 1 per cent-to-up 1-per-cent range, compared with its prior expectation of flat to up 2 per cent. It now forecasts adjusted earnings per share between $6.15 and $6.30, below its prior guidance of $6.20 to $6.60 per share. Same-store sales declined 0.7 per cent for the quarter ended May 3, compared with an expectation of a 0.6-per-cent drop, according to data compiled by LSEG.
Yahoo
6 days ago
- Business
- Yahoo
Electronics retailer Best Buy cuts annual sales forecast on tariff pain
(Reuters) -Best Buy slashed its annual comparable sales forecast on Thursday, on signs that consumer demand for big-ticket items such as appliances, home theater and gaming consoles will be pressured by U.S. tariffs. Shares of the company were down 3% in premarket trading as it also posted a bigger drop in first-quarter sales than analysts expected. American households are in a limbo as they battle higher borrowing costs, with tariffs now fueling concerns of price surges on everything from toys to groceries and sneakers. Best Buy is heavily reliant on imports from China, its biggest manufacturing hub, for products such as gaming consoles, audio equipment, cameras and drones, according to Telsey Advisory Group analyst Joe Feldman. The top U.S. electronics retailer expects fiscal 2026 comparable sales in the range of down 1%-to-up 1%, compared to its prior expectation of flat-to-up 2%. It logged same-store declines of 0.7% for the quarter ended May 3, compared to analysts' average expectation of a 0.6% drop, according to data compiled by LSEG. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
