In a month typically dominated by summer getaways, retail footfall in August thankfully didn’t take a break. In fact, visits to UK retail destinations rose, albeit by just 0.9% month-on-month and by a more modest 0.1% year-on-year across 28 July-24 August, according to MRI Software’s latest figures. Image: Pexels Shopping centres and retail parks were [...]read moreNo lazy August for UK retail as footfall remains positive
Sustainable footwear and apparel specialist Allbirds said on 7 August that second quarter net revenue decreased 26.8% to $51.6 million versus a year ago, within the company’s guidance range. Allbirds It was “primarily attributable to lower unit sales, partially offset by higher average selling prices, within our direct business as well as our international distributor [...]read moreAllbirds remains lossmaking but CEO hails “financial progress”
Tesco issued a trading update on Friday and frustratingly, it included only 11 words about non-foods and fashion, despite clothing being a key driver during the period covered. Tesco F&F For the 13 weeks to 25 May (the retailer’s first quarter), it talked of “non-food sales up +0.7%, driven by strong growth in clothing”. We [...]read moreTesco trading update shows clothing remains strong
Inditex’s ability to wring impressive sales growth out of even the toughest economic backdrop seemed to falter in the three months to April 30 as its Q1 growth slowed. Inditex And the Spanish fashion giant still turned in an inflation-beating Q1 sales rise while Q2 figures also showed a bounce-back, so it’s clearly still a [...]read moreInditex Q1 sales growth slowed but retail giant remains buoyant
Increased adoption When asked about how reverse mortgage business is going in the first half of the year, Ogata said that he’s happy with the division’s performance and its ability to enlist the company’s forward mortgage professionals to take a closer look at reverse. Ryan Ogata “I’d say in the last two or three months [...]read moreOne year after expansion, Guaranteed Rate remains bullish on reverse mortgages
What does the future hold for Naf Naf? In receivership since September 2023, the women’s ready-to-wear chain has received three takeover bids to acquire all or part of its assets, management told AFP on Thursday, describing this as “encouraging”. But there is still uncertainty, according to the unions involved. Naf Naf/Facebook The owner of Naf [...]read moreThree takeover bids on the table, but the situation remains unclear
Natura &Co may no longer own The Body Shop but it still has major UK and Europe ops via Avon International, although this isn’t performing as strongly as its own Natura business. Avon Overall, for its fiscal Q1, the Brazilian group’s losses widened due to falling sales at that Avon business. In fact, the net [...]read moreAvon remains a drag on Natura &Co, “separation” continues to be a goal
Better Home & Finance Holding Co., the parent of digital lender Better, strongly improved its mortgage production and revenues in the first three months of 2024. But expenses continued to increase and the company remained unprofitable during the period. Better posted a net loss of $51.5 million from January to March, up from a loss [...]read moreBetter improves loan volume by 25% but remains unprofitable in Q1
Mortgage tech firm Blend Labs reported another loss in the first quarter of 2024, but its executives remain confident the company will deliver profits by the end of this year. To reach this goal, the company recently received a $150 million injection from private equity firm Haveli Investments and paid down the balance of its outstanding debt. The San Francisco-based company [...]read moreBlend, now “debt-free,” remains confident about reaching profitability by the end of 2024
Realtor.com parent company Move Inc. saw its fiscal third-quarter revenue decrease 6 percent yearly to $132 million as traffic to the site stalls at 72 million average monthly unique visitors. At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business [...]read moreRealtor.com Revenue Drops 6% As Traffic Growth Remains Flat