DETROIT—In a normal month before the pandemic, Con Paulos’ Chevy dealership in Jerome, Idaho, sold around 40 new vehicles. In September, it was only six. Now he’s got nothing new in stock, and every car, truck or SUV on order has been sold. Last month, what happened at his dealership about 115 miles (185 kilometers)…
US Auto Sales Slump, Stalled by Car Computer Chip Shortage
October 2, 2021
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Hong Kong Retail Sales Rise for 7th Month, Consumption Voucher to Support Sentiment
HONG KONG—Hong Kong’s retail sales climbed for the seventh straight month in August, helped by a stabilising COVID-19 situation, an improved labour market, and economic recovery and thanks to a boost from a consumption voucher scheme (CVS). Retail sales in August rose 11.9 percent from a year earlier to HK$28.6 billion ($3.67 billion), government data…
October Is the Best Time to Buy These Things
And just like that, autumn has arrived! Oh, how I love this time of year! Cooler weather, sweaters, scarves, pumpkin pie, and beautiful fall colors make this, for me, the very best time of year. And there’s more—bargains galore await as we head in. Here’s a quick rundown of bargains we’re sure to find during…
Nike Warns on Holiday Delays, Cuts Full-Year Sales Estimate
September 24, 2021
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Nike Inc. on Thursday cut its fiscal 2022 sales expectations and said it expects delays during the holiday shopping season, blaming a supply chain crunch that has left it with soaring freight costs and products stuck in transit. Months-long factory closures in Vietnam, where about half of all Nike footwear is manufactured, have piled more…
Cathay Pacific Lowers Q4 Capacity Forecast as Travel Restrictions Linger
Hong Kong’s Cathay Pacific Airways Ltd. said on Monday it had lowered its passenger capacity forecast for the remainder of the year to 13 percent of pre-COVID levels, down from an earlier 30 percent target for the fourth quarter as travel restrictions linger. The airline said it continued to target cash burn of less than HK$1…
Honda Targets Annual Sales of 70,000 Prologue Electric Vehicles in US From 2024
September 20, 2021
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WASHINGTON—Honda Motor Co.’s U.S. unit said on Monday it is targeting initial annual sales of 70,000 for its planned electric Prologue sport utility vehicle when it goes to market in 2024. Honda plans to add additional electric vehicle models as it aims to have sold a total of 500,000 electric vehicles in the United States…
Aegean Airlines Shrinks Loss in Second Quarter, Sales Jump
ATHENS—Greece’s largest carrier Aegean Airlines on Friday reported a lower loss in the second quarter compared to the same period a year earlier as passenger traffic recovered from the pandemic travel restrictions. Aegean said its net loss came to 33.9 million euros ($39.91 million) in April-to-June compared to a loss of 73.4 million euros in…
Malaysia’s Top Glove Quarterly Earnings Plunge 48 Percent on Slower Sales
KUALA LUMPUR—Malaysia’s Top Glove Corp. Bhd posted on Friday a 48 percent drop in its fourth-quarter earnings as the steady rollout of vaccines worldwide pulled down the demand for gloves. The world’s largest medical glove maker recorded a net profit of 607.9 million ringgit ($145.88 million) during June-August, compared with 1.17 billion ringgit a year…
H&M’s Sales Still Lag Pre-Pandemic Levels as Restrictions Bite
STOCKHOLM—Sales at fashion retailer H&M grew less than expected in the three months to the end of August, staying below pre-pandemic levels as restrictions kept shoppers away from stores. The Swedish group said on Wednesday sales grew 9 percent from a year earlier, or 14 percent in local currency terms, to 55.6 billion crowns ($6.46…
Zara Owner Inditex Outshines H&M as Sales Top Pre-Pandemic Levels
MADRID—Fashion brand Zara owner Inditex has outpaced Swedish rival H&M in its efforts to bounce back from the coronavirus crisis, with second-quarter sales rising above pre-pandemic levels. The world’s biggest fashion retailer’s sales in the quarter edged above levels seen before the pandemic as most stores reopened and people rushed to renew their wardrobe after…
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