Latest news with #consumersentiment
Bloomberg
4 days ago
- Business
- Bloomberg
Berro and Jones on Consumer Sentiment, Labor Market, Rate Cuts
US retail sales rose in July in a broad-based advance and the prior month was revised higher, though economists were cautious on the trend going forward given a softening jobs market and weaker consumer sentiment. Schwab Center for Financial Research Chief Fixed Income Strategist Kathy Jones and JPMorgan Asset Management Fixed Income Portfolio Manager Kelsey Berro has more on the story. (Source: Bloomberg)
Yahoo
4 days ago
- Business
- Yahoo
Consumer sentiment falls for first time in 4 months as inflation expectations surge
Consumer sentiment soured in August for the first time in four months as Americans grew antsy about where inflation is headed. The latest University of Michigan consumer survey released Friday showed year-ahead inflation expectations soared to 4.9% in August from 4.5% in July. That pessimism was seen across demographic groups and political affiliations. Overall, sentiment dropped 5% month over month, the survey showed. On an annual basis, inflation has held at 3% or lower so far this year, though core inflation stripping out more volatile food and energy prices rose 0.3% between June and July, the largest gain in six months. Hotter-than-expected wholesale inflation data released this week suggested consumers may face more pricing pressure in the months to come. Learn more: July CPI breakdown: Consumers are feeling the crunch of accelerating inflation Still, 'consumers are no longer bracing for the worst-case scenario for the economy feared in April when reciprocal tariffs were announced and then paused,' said Joanne Hsu, the survey director, in a statement. (High country-specific tariffs took effect last week.) Sign up for the Mind Your Money weekly newsletter By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Consumers in the survey also expect the job market to weaken, following what is now a three-month streak of disappointing jobs numbers. Though the unemployment rate has been hovering between 4% and 4.2% since May 2024, the US economy added 73,000 nonfarm payrolls in July, less than the 104,000 expected by economists. Meanwhile, May and June jobs figures were revised sharply downward to a total gain of just 33,000 jobs. 'The share of consumers expecting unemployment to worsen in the year ahead was about 32% in 2022 and as recently as November 2024, but is now about 60%, a reading last seen in the Great Recession,' Hsu wrote in a report that was also released Friday. But tariff worries and recession talks aside, consumers are still getting out their credit cards: Retail sales in July were up 0.5% from the month prior. Read more: What is inflation, and how does it affect you? Emma Ockerman is a reporter covering the economy and labor for Yahoo Finance. You can reach her at 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
Yahoo
05-08-2025
- Business
- Yahoo
Hugo Boss' cost cuts help it report profit beat despite weak sentiment
By Linda Pasquini (Reuters) -Cost measures helped Hugo Boss report a slightly better than expected quarterly operating profit and confirm its outlook for 2025, the German fashion group said on Tuesday, while warning of weak consumer sentiment globally. Earnings before interest and taxes rose 15% to 81 million euros ($93.5 million) in the second quarter, beating analysts' forecast of 77 million euros in a company-provided poll, aided by cost-cutting measures as a stronger euro weighed on sales. When converted into euros, Hugo Boss' revenue fell 1% to 1 billion euros in the quarter, roughly in line with a market forecast of 998 million euros. "The second quarter of 2025 was once again marked by a challenging macroeconomic and industry environment, with global consumer confidence remaining at a low level," CEO Daniel Grieder said in a statement. Hugo Boss confirmed its sales and profit guidance for the year, but said it now expected sales in reporting currency in the Americas to remain at around last year's level, dragged by a weaker U.S. dollar against the euro. It had initially expected low single-digit percentage growth in the region. The company will keep monitoring macroeconomic developments and tariff talks, while focusing on controlling costs and strengthening its profitability, Grieder said. Demand in the U.S. strengthened in the quarter compared to a weaker start to the year, resulting in modest revenue growth, the company said. Demand in China remained subdued, leading to a 5% currency-adjusted decline in its Asia-Pacific sales. Germany and France drove a 3% currency-adjusted sales rise in the Europe, Middle East and Africa region, despite a slight decline in Britain, it added. Hugo Boss' shares were up 1.5% in early Frankfurt trade. ($1 = 0.8663 euros)
Yahoo
22-07-2025
- Business
- Yahoo
Berentzen-Gruppe issues profit warning on weak consumer demand
Berentzen-Gruppe has cut its forecasts for annual revenue and operating profit, pointing to continued low consumer confidence. Ahead of the planned publication of the Germany-based distiller and soft-drinks maker's half-year results next month, the Pushkin vodka set out new projections for revenue and operating profit. The business now expects its revenues to be between €172m ($201m) and €178m in 2025, down from its previous forecast of €180-190m. In 2024, the group recorded revenue of €181.9m. Berentzen-Gruppe is projecting consolidated operating profit to range between €8m and €9.5m this year. In 2024, it generated EBIT of €10.6m and had been forecasting between €10m and €12m for 2025. 'Development in the first half of 2025 thus fell short of our expectations, which is primarily attributable to very challenging market conditions in the spirits segment,' Berentzen-Gruppe CEO Oliver Schwegmann said. 'When we set our forecast at the beginning of the year, we still assumed that the very poor consumer sentiment that manifested itself in 2024 would brighten significantly again in 2025. Instead, this trend has continued in 2025 and has even intensified across the entire alcoholic beverages market.' Schwegmann said all promotions with discount retailers for the company's Berentzen-branded liqueurs were cancelled in the first half. 'This was one of the main reasons why the second quarter was weak for our branded spirits,' he added. However, Schwegmann pointed to the 13.2% increase in revenues from the company's Mio Mio soft-drinks brand, which he described as 'finally back on its dynamic growth path'. He added: 'We achieved double-digit revenue growth with our premium and medium products from our private label spirits segment, which are strategically important, particularly for our international business. Overall, our strategic core areas therefore recorded an increase in revenues. This shows once again how important and right it was to position ourselves broadly as a group of companies. 'Despite this market environment, we expect the marketing initiatives outlined above to take effect later in the year, enabling us to report revenues and earnings figures for the second half of the year at the strong level of the previous year.' Last week, Berentzen-Gruppe announced a deal to source Bourbon from Whiskey House of Kentucky. Berentzen-Gruppe, which supplies private-label Bourbon, said the tie-up has started, with the first whiskey barrels filled. A spokesperson for Berentzen-Gruppe told Just Drinks: 'We are one of the largest Bourbon suppliers in Europe for private-label business. 'Particularly in view of the long storage times, we need firm, long-term contracts that ensure we will have sufficient quantities available in the coming years.' "Berentzen-Gruppe issues profit warning on weak consumer demand" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
Yahoo
18-07-2025
- Business
- Yahoo
US Consumer Sentiment Rises to a Five-Month High
US consumer sentiment rose to a five-month high in early July as expectations about the economy and inflation continued to improve. The preliminary July sentiment index rose to 61.8 from 60.7 a month earlier, according to University of Michigan data. Mike McKee reports on "Bloomberg Open Interest."
