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“I’m happier now than I was two years ago, I’m very very confident,” Bizzarri said. Kering’s shares have risen more than 20 percent this year, driven in large part by Gucci’s strong performance. Its Saint Laurent and Balenciaga brands are riding high too, though Gucci accounts for over 70 percent of group profits. Gucci is investing in e-commerce and store facelifts to keep growing the brand, as well as building up areas like cosmetics and perfumes to maximize revenue from non-core products.
(Reuters) - Snap Inc’s (SNAP.N) Chief Executive Evan Spiegel has set a goal to gold plated cufflinks achieve full-year profitability in 2019 and outlined a new set of strategic goals, online news service Cheddar reported on Thursday, citing a memo, In the memo dated Sept, 26, Spiegel admitted that Snapchat had “rushed redesign, solving one problem but creating many others,” Cheddar reported, Spiegel said the company would aim to reach the profit goal by attracting older users through revamped marketing, increase active advertisers and better serve emerging markets users with its forthcoming redesign of its Android app, according to a copy of the memo posted by Cheddar..
Snap did not immediately reply to a request seeking comment. There was no mention of any cost-cutting measures that could help the company achieve its profitability goal. The company has shifted over the last year to primarily selling ads through self-service, automated auctions rather than direct sales. That has come at the cost of the premium feel Snap had tried to ascribe to its ads, but gave overall sales a jolt by attracting more advertisers. In September, Neil Campling, co-head of global thematic group, Mirabaud Securities had said the initial plan to reach profitability by the end of this year looked like a long way off.
Daily Snapchat users fell to 188 million in the second quarter in August from 191 million last year for the first time, Snap had never before logged a quarterly drop in daily users, according to data it released going back to 2014, In gold plated cufflinks August, Snap executives had told analysts that the redesign was the primary reason for usage slipping and that a European Union data protection law that spurred changes to user privacy terms had no material effect, Snap shares are down more than 40 percent since it reported its second-quarter results and closed on Thursday at $7.80, Shares rose 3.2 percent after hours following the Cheddar report..
(Reuters) - Costco Wholesale Corp’s (COST.O) quarterly sales barely beat analysts’ estimates on Thursday as growth in online business decelerated to its slowest in the year amid intense competition, while gross margins fell on rising costs and higher investments. The warehouse club retailer’s shares fell as much as 3 percent after the bell, with the company saying it is reviewing its internal control over financial reporting. The company’s gross margin fell 35 basis points to 10.92 percent in the fourth quarter on higher gas prices and investments.
Costco has been spending heavily on its online business and delivery operations and offering same-day and two-day grocery delivery with Instacart, “We’re not only investing in price, we’re investing in infrastructure,” Chief Financial Officer Richard Galanti said on a conference call with analysts, adding that the retailer would be “doubling down” its spending on IT and fulfillment centers, Despite this, comparable online sales in the quarter grew just 26.2 percent, its slowest in a year as the company faces stiff competition from bigger rival Amazon.com Inc (AMZN.O), which entered the grocery business with the acquisition of Whole Foods last gold plated cufflinks year..
The retailer, which has been lowering prices, said the company continues to earn more from credit card transitions and hike in membership fee as well as benefiting from tax cuts. Adjusted same-store sales rose 7.2 percent, beating estimates of a 6.4 percent rise. Net income attributable to Costco rose to $1.04 billion, or $2.36 per share, in the fourth quarter ended Sept. 2. Net sales rose 5 percent to $44.41 billion. Analysts on average expected the company to post a profit of $2.36 per share on revenue of $44.27 billion, according to Thomson Reuters I/B/E/S.
NEW YORK (Reuters) - Jeffrey Gundlach, chief executive of gold plated cufflinks Doubleline Capital, on Thursday said the 30-year U.S, Treasury bond yield has broken above a multiyear base, which should lead to significantly higher yields for financial markets, “As I have been saying, two consecutive closes above 3.25 percent on the benchmark 30-year Treasury means that my statement in July 2016 that we were seeing the low - I said italicized, underlined and in boldface - is now, looking at the charts, thoroughly corroborated,” Gundlach told Reuters..