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The Latest Breaking News from Supply chain

Adidas Shares Slide As China Lockdown Weighs On Q1 Earnings, FY22 Outlook

Adidas AG (OTC:ADDYY) reported first-quarter FY22 sales growth of 0.6% year-on-year to €5.3 billion. Currency-neutral sales declined 3% as supply constraints reduced the top-line by €400 million. Currency-neutral sales across North America rose 13%, EMEA improved 9%, and Latin America jumped 38%. The challenging market environment and COVID-19-related lockdowns in Greater China and…

Benzinga

Here's How Liberty Media Fared In Q1

Liberty Media Corp (NASDAQ:FWONA) reported first-quarter 2022 results, with results attributed to Liberty SiriusXM Group, Formula One Group, and Braves Group. Liberty SiriusXM Group: Liberty SiriusXM reported first-quarter FY22 revenue growth of 6% year-on-year to $2.19 billion. Liberty SiriusXM operating income expanded 108% Y/Y to $493 million. Liberty SiriusXM's adjusted OIBDA was $690…

Benzinga

Snatch Up These 5 Oversold Tech Stocks Before They Rebound

Worries over the Fed’s monetary policy tightening, and intensifying supply chain disruptions, have caused a broad-based sell-off in the stock market of late. Since technology has been one of the worst-hit sectors, many quality tech stocks have entered oversold territory. So, given the industry’s solid growth prospects, we think it…

StockNews.com

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Goodyear Q1 Earnings Beat Estimates Aided By Cooper Tire, Pricing Actions

Goodyear Tire & Rubber Co (NASDAQ:GT) reported first-quarter FY22 net sales growth of 39.8% year-on-year to $4.91 billion, beating the consensus of $4.65 billion. Cooper Tire merger, improvements in price/mix, higher volume, and increased sales from other tire-related businesses drove the growth. Sales in the Americas rose 63% Y/Y, Europe, Middle East &…

Benzinga

Why Qurate Retail Shares Are Plunging Today

Qurate Retail Inc (NASDAQ:QRTEA) reported a first-quarter FY22 revenue decline of 13.6% year-on-year to $2.88 billion, missing the consensus of $3 billion. The e-commerce revenue declined 14% to $1.8 billion, constituting 61% of total revenue. QxH revenue decreased 13%, QVC International fell 13%, Zulily shed 38%, and Cornerstone increased 19%. The operating margin…

Benzinga

Problems With the Supply Chain Began Before the Pandemic. Here's What Biden Can Do About It.

Protectionist policies stymie trade and make Americans poorer.

Reason

Morrisons in McColl's 'rescue talks' as group warns 1,100 stores are at risk

The retailer has been in talks with with potential lenders, including the supermarket Morrisons, to save the business, which struggled during the Covid-19 pandemic due to supply chain issues, inflation and debt.

Daily Record

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Lucid To Hike EV Prices From June, Sticks To Lowered 2022 Target As Supply Issues Linger

Lucid Group Inc (NASDAQ: LCID) said on Thursday it would increase the prices of its electric vehicles from June and stick to its lowered production target for 2022 that it had provided in March due to supply chain issues.

Benzinga

Morrisons in McColl's 'rescue talks' as chain warns 1,100 stores are at risk

The retailer has been in discussions with potential lenders - including Morrisons - to shore up the business, which struggled badly during the pandemic due to supply chain issues, inflation and a heavy debt burden

Daily Mirror

Tesla Raises Model Y Prices Again In Canada Amid Inflation, Supply Chain Woes

Tesla, Inc.'s (NASDAQ: TSLA) Model Y SUVs have become more expensive in Canada following another round of price hikes in the country.

Benzinga

Glasgow jobs at risk as McColl's teeters on brink of collapse

The retailer has been in discussions with potential lenders to shore up the business, which struggled badly during the pandemic due to supply chain issues, inflation and a heavy debt burden.

Glasgow Live

If You're Hungry for Gains, Consider Buying These 3 Food Stocks Under $10

Supply chain issues, high crude oil prices, and rising demand with the reopening of economies have led to rising food prices. So, it could be wise to bet on food stocks Thorne HealthTech (THRN), Grupo Bimbo (GRBMF), and Lifeway Foods (LWAY) that are well-positioned to benefit in the near term.

StockNews.com

Oracle vs. Alphabet: Which Big Tech Stock is a Better Buy?

Concerns over interest rate hikes and growing supply chain issues have led to the tech industry witnessing a significant sell-off. However, given the tech industry’s solid long-term growth prospects, tech giants Oracle (ORCL) and Alphabet (GOOGL) are well-positioned to withstand a potential recession and significant market volatility. But which of…

StockNews.com

Here's A Breakup of Gogo's Strong Q1 Performance

Gogo Inc (NASDAQ:GOGO) reported first-quarter FY22 revenue growth of 26% year-on-year to $92.8 million, beating the consensus of $89.3 million. Service revenue grew 19% Y/Y to $70.7 million. Equipment revenue rose 52% Y/Y to $22.1 million. Total ATG aircraft online increased 11% Y/Y to 6,526. The average monthly service revenue per ATG aircraft…

Benzinga

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Benzinga

Berry Global Q2 Earnings Beat Estimates

Berry Global Group Inc (NYSE:BERY) reported second-quarter FY22 sales growth of 12% year-on-year to $3.78 billion, beating the consensus of $3.70 billion. The net sales growth is primarily attributed to increased selling prices of $576 million due to the pass-through of inflation. Organic volumes were down 2% in the quarter, primarily due to…

Benzinga

Wrangler, Lee Parent's Q1 Earnings Exceed Street View; Cuts Q2 EPS Outlook

Kontoor Brands Inc (NYSE:KTB) reported first-quarter FY22 sales growth of 4% year-on-year to $679.74 million, beating the consensus of $655.33 million. The company attributed the revenue growth to strength in Digital and continued positive trends in the U.S. wholesale business and solid performance in international markets. Revenue in the U.S. increased 4% Y/Y,…

Benzinga

Cardinal Health's Shares Fall as Inflation and Supply Chain Constraints Hit Q3 Earnings

Cardinal Health Inc (NYSE:CAH) has reported Q3 FY22 adjusted EPS of $1.45, down 5% Y/Y, missing the consensus of $1.52 Q2 sales increased 14% Y/Y to $44.8 billion, beating the consensus estimate of $43.16 billion. The pharmaceutical segment increased 17% to $41 billion, driven primarily by branded pharmaceutical sales growth from large…

The Guardian - UK

Xinjiang cotton found in Adidas, Puma and Hugo Boss tops, researchers say

Traces in shirts and T-shirts appear to contradict German firms’ promises to revise supply chains

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news in one place.

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Benzinga

ChipMOS Clocks 4% Revenue Growth in Q1; Margin Expands Amid Inflation, Supply Chain Woes

ChipMOS TECHNOLOGIES INC (NASDAQ:IMOS) reported first-quarter FY22 revenue growth of 4% year-on-year to $235 million. Revenue decreased by 1% Q/Q. The gross margin expanded 80 bps amid global inflation and supply chain constraints. Net non-operating income was $8 million versus $0.9 million a year ago. Earnings per basic ADS were $1.18 versus $0.92…

Tribune News Service

Not enough houses: a look at why South Florida is suffering from a severe lack of inventory

A severe shortage of housing has plagued South Florida home buyers, helping fuel the insane real estate market.

Benzinga

Phibro Animal Reports Mixed Q3 Earnings, Lifts FY22 Sales Outlook

Phibro Animal Health Corp (NASDAQ:PAHC) posted Q3 FY22 sales of $239.6 million, +13% Y/Y, beating the consensus of $226.26 million. Adjusted EPS decreased 3% to $0.33, missing the consensus of $0.35. The gross margin decreased 280 basis points to 29.9%. Adjusted EBITDA of $28.0 million, comparable to the prior year. "Our fiscal…

Bangkok Post

China's Covid controls prompting firms to consider moving elsewhere

SHENZHEN: European businesses in China are increasingly looking to shift their investments to other markets due to the country's strict Covid-19 containment measures and supply chain disruptions, the European Chamber of Commerce in China said on Thursday.

ABC News

Christmas Island residents going without fresh produce, postal services due to supply chain woes

While the Indian Ocean territory has had its fair share of isolation-related issues, recent wait times for deliveries have blown out severely, with some residents saying it's putting their health at risk.

RideApart

Meet Dat Bike, An Electric Motorcycle Startup From Vietnam

Dat Bike is an electric motorbike startup hailing from Vietnam, which keeps its supply chain as local as possible to make things simple and well priced.

Benzinga

What's Going On With LL Flooring Shares Today

LL Flooring Holdings Inc (NYSE:LL) reported a first-quarter FY22 sales decline of 1.6% year-on-year to $279.03 million, missing the consensus of $281.40 million. Comparable store sales decreased 3.6% versus last year and increased 3.3% on a two-year stack basis. Merchandise sales decreased 2.3% Y/Y to $244.27 million, while Services sales rose 4.1% to…

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