Vinted Moves Into Profit After 61% Sales Rise
The Lithuania-based group said growth had been spurred by entering new markets including Denmark and Finland and an expansion into luxury fashion.
The compensation puts Marc Lore well ahead of his boss, Walmart CEO Doug McMillon, and vaults him into the ranks of America’s top-paid executives.
Wal-Mart posted its third straight quarter of double-digit online growth, which helped its holiday results top estimates.
Free shipping will replace 'Shipping Pass', Wal-Mart's existing two-day shipping program that charges shoppers an annual membership fee of $49.
Not even a stronger alliance with the world’s largest retailer was enough to convince short sellers that JD.com Inc.’s recovery will last.
The US retailer boosted its stake in China’s second-largest e-commerce website JD.com, strengthening an alliance to win more market share in the world’s largest online market.
Wal-Mart executives touted the technology investments the retailer is making to boost online sales, during the annual shareholder meeting.
Wal-Mart has been under increasing pressure lately as sales in the US have failed to keep up with rising labour costs. It’s also been spending more on its Web operations.
Wal-Mart Stores Inc. chief executive officer Doug McMillon defended his attempt to revamp the retailer after a weak profit forecast sent the shares on their biggest decline in more than 15 years.
The Lithuania-based group said growth had been spurred by entering new markets including Denmark and Finland and an expansion into luxury fashion.
The Barcelona-based firm set the price guidance at €24.50 per share, according to terms seen by Bloomberg News, giving the company an implied market value of €13.9 billion ($14.9 billion).
Chairman Reinold Geiger’s investment holding company, L’Occitane Groupe SA, is considering an offer for the Hong-Kong listed firm’s shares he does not already own, at HK$33 to HK$34 per share, the report said, citing people familiar with the matter.
The private equity fund has entered into a definitive deal with the Percassi family, which will retain a “significant stake” in the business.
The company confirmed in January that it planned to restart activities in Venezuela in the first half of 2024 with local partner Grupo Futura.
The move means Shein could be liable for fines of as much as 6 percent of global revenue for violating the law, designed to curtail the spread of illegal content online.
Since the merger announcement, Capri has reported weaker-than-forecast earnings twice, spurring concern about its performance in the coming quarters.
The new scent, Zouzou, is the fashion house’s first new perfume since 2022.