Leroy Merlin halves Board and starts a vast redundancy plan Europe Leroy Merlin (GMV 2023 of €9.93 billion in France up by 1.3% year-on-year) announced the loss of about 500 jobs in France, representing around 1.8% of the group’s workforce.…
The Body Shop soon to be taken over by the Eurelius fund Americas After selling Aesop to L'Oréal, Brazilian giant Natura &Co was committed to selling The Body Shop. The investment company Aurelius has reportedly shown an interest.
[Amazon results] In Q3 2023, Amazon more than tripled net margin on the back of a savings plan and a return to fundamentals After a post-Covid-19 pandemic slowdown, Amazon's net margin more than tripled in Q3 2023. Over the 9 months of the year, growth was driven by the digital marketplace, AWS and advertising - three divisions accounting for 73% of revenue gains. With US$6 billion in additional sales in 9 months, advertising has overtaken e-commerce and is now hot on the heels of AWS in terms of growth contribution.
USA. Furniture pure-player Wayfair tries “brick & mortar” again Americas Originally scheduled for mid-May 2023, Wayfair announced that a first physical store will welcome customers in Spring of 2024. The 14,000 sq.m flagship store is under construction at the Chicago suburb of Wilmette on the site of a former Carson Pirie Scott department store.…
USA. Why Paco Rabanne and Kering are investing in beauty Americas In parallel with a diversification into make-up, Paco Rabanne announces the opening of a flagship store in New York. Meanwhile, Kering is due to acquire the Creed perfume brand. For the luxury giants, strengthening beauty offers means reaching and winning with a new audience.
China : Alibaba and JD.com spin-offs delight investors Asia On 30th March 2023, JD.com announced a spin-off of property and industrial units from the core business in order to list these on the Hong Kong Stock Exchange.…
Analyse data [Amazon results] Focus on A.I. to revive AWS, a declining source of profitability in Q1 Whilst Amazon's e-commerce business is losing momentum (down by 0.1% year-on-year), the AWS cloud service is recording the slowest growth since 2015. To improve profitability, the tech giant is introducing a series of AI-based tools for businesses. Amazon's year-on-year revenue growth was 11%, driven by the marketplace and the cloud.
Galeries Lafayette: New impetus in China, concern for the 25 French stores in provinces Asia While Galeries Lafayette has signed with a new Chinese partner, in France, the financial safeguard procedure for 26 department stores raises stakes of territory appeal at a national level.
Casino – Teract: Intermarché is joining the fray Europe Interrupting a proposed merger between Casino and Teract, Intermarché is joining the fray. The firm wants to take over about 100 Casino French supermarkets to gain 0.7% market share. This is dismantling for the Casino group.
Beauty. The Indian unicorn Nykaa continues to grow like crazy Asia Despite a departure of five senior executives since January 2023, Nykaa expects sales to grow by around 30% in the financial year ended in March 2023.…