Most travel now is for pleasure not business as corporations resist a return to pre-pandemic ways.
Business travel is down 30% from 2019, said Associated Press. The Global Business Travel Association now says corporate travel likely won’t hit pre-pandemic rates until mid-2026.
FINANCE
Frasers Group (UK), which owns chains including Sports Direct and House of Fraser, will be promoted to the FTSE100.
Qurate Retail Group’s (USA) corporate rating was downgraded to B+ at S&P Global Ratings. The group owns QVC and Zulily.
Asos (UK) has warned that full year profits for the year ending August 31 would be closer to £20 million ($23 million), having previously forecast profits in the range of £20 million to £60 million range.
- Sales growth for the year is expected to be 2%.
Dubai Duty Free (UAE) sales doubled to more than $1 billion during the first eight months of 2022 on the back of high passenger traffic. The surge caused the retailer to recall 2,000 of its laid off workers.
- The retailer is on track to reach $1.6 billion in sales by the end of this year.
PODCAST
Website Speed Could be Why Your Online Store is Losing Sales
When we think about ways to improve online sales, we typically don’t think about website speed.
However site speed can play a critical role in driving sales – or driving customers away.
In this episode Shawn O’Neill, founder of SpeedSense a boutique consultancy and SaaS toolset company, talks about the impact that website speed can have on sales – and on carbon emissions too.
What You’ll Learn:
- Why it’s so difficult for e-commerce brands to run a fast website.
- What you need to prioritize so that your site is not only fast – but also engaging.
- How reducing your back-end server pool can help reduce CO2 emissions and your carbon footprint.
RETAIL
Printemps (France) will open a two-level, 54,365-sq.-ft. store in New York City’s Financial District. The store is expected to open in spring 2024.
- The retailer’s first overseas store will open this October in Qatar.
Levi’s (USA) is opening a 6,600-square-foot shop within Hudson’s Bay in downtown Vancouver.
- The shop will include a Levi’s Tailor Shop where customers can have their jeans customized.
- Tech-enabled fitting rooms will provide shoppers with styling recommendations and enable them to call shop assistants, if needed.
MARKETS
The European Central Bank (ECB) announced an unprecedented rate rise of 75 basis points as it attempts to stave off spiraling inflation.
Brands including Burberry, Raf Simon, and others have canceled their runway shows at London Fashion Week in mourning for the late Queen Elizabeth II.
YOU MIGHT HAVE MISSED THESE ARTICLES
Shifting Priorities Have Companies Taking a New Look at Supply
Retailers Could Face a Chilly 2022 Holiday Season
Are Marketplaces the Next Distribution Channels for Mfgs?
How the Bullwhip Effect Could Cut Inflation & Normalize Supply Chains
Why Knitwear is Likely to Outperform the Market
How to Win on Amazon – Without Breaking the Bank
A Growing, Reliable Source for High Quality, Sustainable Cotton Yarn
