Company Earnings Announcement
German sportswear company adidas reported a better than expected rise in 2014 sales on Friday as it announced the sale of its non-core Rockport shoe brand.
The world's second biggest sportswear group behind Nike has been losing market share to its US rival, which has been better at creating a buzz with its brands, but its sales were helped by the 2014 soccer World Cup and the victory of the German team it sponsors.
Craze for Cushion, which started in Korea, is now drawing worldwide attention and revolutionising the makeup routine for women around the world.
Discount retailer Aldi Australia has vowed to maintain pricing pressure on rivals in the AUD85 billion (USD69.58b) grocery market, after increasing sales by 13 percent in 2014, outpacing food and liquor sales growth at Coles and Woolworths almost three-fold.
Aldi Australia's sales reached AUD6 billion in the 12 months ending December 2014, compared with AUD5.3 billion in 2013. The growth was underpinned by strong same-store sales growth and 25 new stores.
Wal-Mart's retail business in China has been plagued by questionable accounting and unauthorized sales practices, according to Bloomberg News.
The company reportedly made business appear strong by making bulk sales to other retailers and tampering with inventory pricing. The markups accounted for 4 percent of the company's gross profits in 2010 while bulk sales were responsible for at least CNY1.6 billion (USD243 million) in revenue, according to Bloomberg.
SM Investments Corporation (SM) reported a net income of PHP18.2 (USD405.6 million) billion for the first nine months of 2014, up from PHP18.6 billion (USD414.5 million) during the same period last year.
It said retail contributed 19 percent to the consolidated net income, while banks and property accounted for 41.9 percent and 39.1 percent, respectively
German sportswear firm Adidas AG, struggling to keep pace with larger US rival Nike, said it expected sales growth to slow in 2015 as it reported third-quarter results in line with forecasts.
Adidas reported third quarter operating profit fell 13 percent to EUR405 million (USD507 million) on sales of EUR4.118 billion, slightly ahead of average analyst forecasts for EUR399 million and EUR4 billion respectively.
In its first earnings report after its initial public offering (IPO) in the US, Alibaba reported strong revenue growth of 54 percent year on year for the third quarter that ended September 2014.
Jonathan Lu, Chief Executive Officer of Alibaba Group, said gross merchandize volume (GMV) for its China retail marketplaces increased 49 percent and annual active buyers increased 52 percent year on year.
Harvey Norman's sales have grown in the three months to September, driving a 24 percent rise in pre-tax profit.
The retailer's sales totalled AUD1.41 billion in the first quarter of the financial year, up 3.2 percent on the same period a year ago.
Like-for-like sales, which exclude the impact of new stores and closures, were up 3.4 percent from a year ago.
Amazon reported that net sales increased 20 percent to USD20.58 billion in the third quarter, compared with USD17.09 billion in third quarter of 2013.
“As we get ready for this upcoming holiday season, we are focused on making the customer experience easier and more stress-free than ever,” said Jeff Bezos, founder and CEO of Amazon.com.
Gap Inc. reported a 1 percent increase in net sales for the month of September compared with the same period last year.
Net sales for the five-week period ended 4 October 2014 were USD1.48 billion compared with net sales of USD1.46 billion for the five-week period ended 5 October 2013.