Stock Markets
Zalando jumps as online fashion retailer sees return to growth
© Reuters. FILE PHOTO: A person with a shopping bag of Zalando outlet walks along Kurfuerstendamm shopping street looking for bargains on the second weekend of advent in Berlin, Germany, December 3, 2022. REUTERS/Lisi Niesner/File Photo
By Linda Pasquini and Chiara Holzhaeuser
(Reuters) -Zalando will target younger buyers and encourage more brands to use its network to sell into complex European markets, the German online fashion retailer said, after forecasting a return to growth this year.
The stock jumped as much as 18.5% after the company also said late Tuesday it would buy back up to 100 million euros ($109 million) of shares, starting from March 13.
Zalando, a multi-brand platform that sells clothes, shoes, and accessories, has faced weakening demand after a growth boom during the pandemic, as consumers grappling with inflation and high interest rates cut spending and turn to cheaper options offered by fast fashion rivals like China-based Shein.
Zalando said it would focus on quality brands to pursue a bigger share of its customers’ wallet, as it believes younger consumers will pay a premium for more durable items.
It is also opening up its logistics business (B2B) to more players.
“Zalando seems to be reckoning that the historical growth story relying on even-increasing online fashion penetration is now close to the glass ceiling,” said Bryan, Garnier & Co analyst Clement Genelot.
“Hence the shift towards a logistician business to address the over-capacity issue in its existing fulfilment network.”
Zalando plans to offer its logistics network, software and services to its partners through one operating system, to facilitate their e-commerce transactions regardless whether they take place on its platform.
This will also help retailers to sell on different channels from only one inventory pool, avoiding overstocking and discounts, it said at its Capital Markets Day on Wednesday.
The apparel market saw heavy discounting towards the end of 2023 and into 2024, as companies aimed to cut down inventories amid slowing demand.
In its fashion and lifestyle business (B2C), Zalando is seeking to tap into Gen Z and Millenial buyers by offering personalized content and AI-powered advice features directly on its platform, and curating specific markets such as the fast-growing sport segment.
In B2B, Zalando said it has not seen an impact from customers getting redirected to brands’ own websites or other platforms, as it is simply enabling transactions which were already happening.
The platform could expand to other categories beyond fashion, such as home and pets, it said.
“As long as you’re not trying to ship groceries with us or your next bedroom furniture, then we can be your partner,” Chief Operating Officer David Schroeder said.
Zalando expects gross merchandise value (GMV), a key metric measuring the value of all goods sold, and revenue to grow between 0% and 5% this year, after single-digit percentage declines in 2023.
“The wider range reflects the continued uncertainty we see in the market,” finance chief Sandra Dembeck told reporters, adding later that the company expects consumer sentiment to improve in the second half of the year.
Zalando targets a compound annual growth rate of 5-10% for GMV and revenue through 2028.
Shares were up 17.9% at 22.55 euros at 15:40 GMT.
($1 = 0.9153 euros)
By Maggie Fick and Ahmed Aboulenein
WASHINGTON (Reuters) – Members of Donald Trump’s presidential transition team are laying the groundwork for the United States to withdraw from the World Health Organization on the first day of his second term, according to a health law expert familiar with the discussions.
“I have it on good authority that he plans to withdraw, probably on Day One or very early in his administration,” said Lawrence Gostin, professor of global health at Georgetown University in Washington and director of the WHO Collaborating Center on National and Global Health (NS:) Law.
The Financial Times was first to report on the plans, citing two experts. The second expert, former White House COVID-19 response coordinator Ashish Jha, was not immediately available for comment.
The Trump transition team did not immediately respond to a Reuters request for comment.
The plan, which aligns with Trump’s longstanding criticism of the U.N. health agency, would mark a dramatic shift in U.S. global health policy and further isolate Washington from international efforts to battle pandemics.
Trump has nominated several critics of the organization to top public health positions, including Robert F. Kennedy Jr., a vaccine skeptic who is up for the post of secretary of Health and Human Services, which oversees all major U.S. health agencies including the CDC and FDA.
Trump initiated the year-long withdrawal process from the WHO in 2020 but six months later his successor, President Joe Biden, reversed the decision.
Trump has argued that the agency failed to hold China accountable for the early spread of COVID-19. He has repeatedly called the WHO a puppet of Beijing and vowed to redirect U.S. contributions to domestic health initiatives.
A WHO spokesperson declined to directly comment but referred Reuters to comments by WHO Director-General Tedros Adhanom Ghebreyesus at a press briefing on Dec. 10 in which he was asked whether he was concerned that the Trump administration would withdraw from the organization.
Tedros said at the time that the WHO needed to give the U.S. time and space for the transition. He also voiced confidence that states could finalize a pandemic agreement by May 2025.
Critics warn that a U.S. withdrawal could undermine global disease surveillance and emergency response systems.
“The U.S. would lose influence and clout in global health and China would fill the vacuum. I can’t imagine a world without a robust WHO. But U.S. withdrawal would severely weaken the agency,” Gostin said.
U.Today – MicroStrategy has made headlines again by purchasing 5,262 BTC for approximately $561 million at an average price of $106,662 per BTC. The company now holds a staggering 444,262 BTC, accumulated at a total cost of approximately $27.7 billion, with an average purchase price of $62,257 per BTC.
Despite impressive returns of 47.4% since the beginning of the quarter and 73.7% since the beginning of the year, skepticism about the company’s strategy is growing.
It is believed that to sustain its purchases, MicroStrategy raises capital through methods such as issuing convertible and corporate bonds, securing credit lines and selling shares.
This cycle appears to operate as follows: shares are sold to acquire the cryptocurrency, and the rising price per BTC increases asset value, enabling further loans, which are then reinvested in more purchases.
Some observers warn that a significant decline in Bitcoin’s price or MicroStrategy’s stock could trigger a cascade effect. A sharp fall in MSTR shares would weaken the collateral backing its loans, potentially leading to forced asset sales, including BTC.
This scenario could exert downward pressure on the broader cryptocurrency market, as the company holds 2.2% of the global Bitcoin supply now.
Thus, while some view Michael Saylor’s approach as a bold bid to cement the cryptocurrency’s role in the financial system, others see it as unsustainable. History offers a cautionary note: in 2000, MSTR shares surged to $333 before plummeting 99%, a collapse that took 24 years to recover from.
National homebuilder ranked No. 12 on inaugural list ranking companies based on trust
SCOTTSDALE, Ariz., Dec. 23, 2024 /PRNewswire/ — With a longstanding reputation for trust, national homebuilder and land developer Taylor Morrison (NYSE:) (NYSE: ™HC) has been recognized by Forbes on their inaugural list of the Most Trusted Companies in America. The homebuilder ranked No. 12 out of 300 companies across all industries.
“There are few things more powerful than trust and it’s something we strive to earn amongst all company stakeholders, from our customers to our team members, our shareholders, and our local communities,” said Taylor Morrison Chairman and CEO Sheryl Palmer. “To be included on this esteemed list in its inaugural year is especially meaningful and these awards are important reminders of the relationships we’re building across all aspects of our business.”
Fueled by hundreds of millions of data points, the Most Trusted Companies in America list combines data on a wide range of factors across four categories: employee trust, customer trust, investor trust and media sentiment. The ranking was created in partnership with research companies HundredX, Signal AI and Glassdoor.
Taylor Morrison also earned the No. 67 spot on Forbes’ inaugural America’s Best Companies list. The ranking is Forbes’ most comprehensive company ranking to date and factored in ratings for financial performance, customer and employee satisfaction, cybersecurity, sustainability, companies’ remote work policies, media coverage and more. Forbes’ America’s Best Companies list assessed more than 60 metrics across 11 primary categories to identify which organizations excel across the board. Of the more than 2,000 U.S.-based publicly traded companies that were eligible, only 300 qualified for each list.
In addition to being named among the Most Trusted and Best Companies in America by Forbes, Taylor Morrison holds several additional accolades including being named on Newsweek’s America’s Most Responsible Companies and America’s Greenest Companies lists, U.S. News & World Report’s Best Companies to Work For list, the American Opportunity (SO:) Index, America’s Most Trusted ® Home Builder for nine years, Hearthstone’s 2021 BUILDER Humanitarian Award, and inclusion on the Fortune 500 list since 2021.
About Taylor Morrison
Headquartered in Scottsdale, Arizona, Taylor Morrison is one of the nation’s leading homebuilders and developers. We serve a wide array of consumers from coast to coast, including first-time, move-up, luxury and resort lifestyle homebuyers and renters under our family of brands”including Taylor Morrison, Esplanade and Yardly. From 2016-2024, Taylor Morrison has been recognized as America’s Most Trusted ® Builder by Lifestory Research. Our long-standing commitment to sustainable operations is highlighted in our annual Sustainability and Belonging Report.
For more information about Taylor Morrison, please visit www.taylormorrison.com.
CONTACT:
media@taylormorrison.com
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