Company Earnings Announcement

Groupon appoints Eric Lefkofsky as new CEO

As Groupon Inc. reported on Wednesday that the company has exceeded income expectations for the second quarter, it also announced the appointment of Eric Lefkofsky as CEO, and Ted Leonsis as Chairman of the Board.

"The Board is encouraged by Groupon's performance under Eric's leadership, and we're pleased that he has agreed to lead the company through this important stage of its evolution," said Ted Leonsis, Chairman of Groupon.

Softbank new leader in industry operating profit

The Japan Times Online

Japanese mobile phone carrier Softbank Corp. overtook longtime industry leader NTT DoCoMo Inc. for the first time in terms of first-quarter group operating profit, their April-June earnings reports show.

For the first quarter of fiscal 2013, Softbank reported operating profit of JPY391 billion, up 92.3 percent from a year before, compared with JPY247.4 billion (USD2.52b) at DoCoMo, down 5.8 percent.

Despite 22pc increase in net sales, Amazon reports USD7m loss in Q2 Inc. reported a 22 percent net sales of USD15.70 billion in the second quarter of 2013 ended 30 June, up 22 percent compared to the same period a year ago. However, net loss was pegged at USD7 million or USD0.02 per diluted share, compared with net income of USD7 million, or USD0.01 per diluted share.

The company said operating income decreased 26 percent to $79 million in the second quarter, compared with USD107 million in second quarter 2012.

Sheng Siong's net profit up 20.8pc in 2Q13, to expand retail presence in Singapore

Sheng Siong Group Ltd, one of the largest supermarket chains in Singapore, registered a 20.8 percent year-on-year (yoy) increase in net profit to SGD8.5 million (USD6.7m) for the second quarter ended on 30 June 2013.

The supermarket operator said on Tuesday that revenue increased 8.7 percent yoy to SGD159.8m for the second quarter, largely because of the increased contribution from new stores of SGD20.1m.

Carrefour's Asia sales up 4.2pc in 2Q13

French supermarket operator Carrefour said on Thursday that sales in Asia returned to growth in the second quarter of 2013 even though its business in Europe continued to be impacted by weak consumption.

Excluding currency shifts and gasoline, sales in Asia grew 4.2 percent to EUR 1.69 billion (USD2.21b) in the second quarter from the same period last year. Taiwan and mainland China's sales both improved during the period. Total sales of the group advanced 1.4 percent to EUR20.46b.

eBay Inc. Q2 revenue up 14pc

eBay Inc. reported USD3.9 billion in revenues in the second quarter ended 30 June 2013, up 14 percent increase compared to the same period of 2012.

Total company Enabled Commerce Volume (ECV) grew 21 percent for the quarter to USD51 billion, which the company attributes to the power of its global commerce platforms. Marketplaces, PayPal and eBay Enterprise connect merchants, retailers and brands of all sizes with consumers everywhere.

Meanwhile, cross-border trade in the second quarter was USD11 billion, representing 22 percent of the company's total ECV.

Gap net sales up 8pc in June

Gap Inc. reported an 8 percent increase in net sales for June 2013.

Net sales for the five-week period ended 6 July 2013 were USD1.53 billion compared with net sales of USD1.41 billion for the five-week period ended 30 June 30 2012.

Gap said due to the 53rd week in fiscal year 2012, June 2013 comparable sales are compared to the five-week period ended 7 July 2012. On this basis, Gap Inc.’s comparable sales for June 2013 were up 7 percent versus flat for June 201


India's Liberty Shoes aims 25pc growth

The Hindu Business Line

Liberty Shoes Ltd on Monday said it is eyeing 25 percent growth in sales in the current financial year on the back retail expansion. The company, which had net sales of Rs 362.86 crore (USD259.9 million) last fiscal, plans to open 75 more stores in this calendar year, in addition to 25 stores opened in the first half of 2013.


Gap's sales up 11pc in May

Retail In Asia

Gap reported that its net sales for May 2013 increased 11 percent compared with the same period last year.

Net sales for the four-week period ended 1 June 2013 were USD1.22 billion compared with net sales of USD1.10 billion for the four-week period ended 26 May 2012.

“We are pleased with the positive customer response to summer product across our brands and the continued momentum in the business,” said Glenn Murphy, chairman and chief executive officer of Gap Inc.

Ralph Lauren's 4Q profit rises 35pc

The Sydney Morning Herald Online

Ralph Lauren Corp. is reporting a 35 percent increase in fourth-quarter profit, but economic challenges and certain strategic initiatives have cut into sales.

The New York-based company is reporting net income of USD127.2 million, or USD1.37 per share, for the three months that ended on 30 March.

That compares with USD94.4 million, or 99 cents US per share, a year earlier.

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