Luxury consumers' confidence plummeted during the second quarter 2006, dropping 14 points down to 99.2 from a high of 113.2 at the close of the first quarter. This follows two consecutive quarters of rising luxury consumer confidence. The index is based upon the results of a survey of over 1,000 luxury consumers (average income $147.9k) conducted in July 2006
Wireless technology, now the networking backbone in homes and offices worldwide, is about to see widespread adoption where it will have, perhaps, its most profound impact: on the plant floor and out in the field. The worldwide market for wireless technology in manufacturing is expected to grow at a compounded annual growth rate (CAGR) of 26% over the next five years. The market was $325.7 million in 2005 and is forecasted to be over $1 billion in 2010, according to a new ARC Advisory Group study.
Like television for a previous generation, the Internet is quickly becoming the principal mode of information and communication for today's youth. Young people now turn to the Internet to read the news, chat with their friends, play games, download music, and to shop.
Moving away from its traditionally conservative outlook on information technology (IT) spending, the global retail industry is realizing the value of investing in IT to enhance efficiency as well as improve customer service and profitability in an increasingly competitive environment.
In the second quarter of 2006, Group sales increased 59% on a currency-neutral basis, driven by the consolidation of the Reebok business segment as well as higher than anticipated double-digit growth of both adidas and TaylorMade-adidas Golf. Sales for the adidas Group excluding Reebok increased 20% on a currency-neutral basis, with double-digit sales increases coming from all regions. In euro terms, Group revenues grew 60% to EUR 2.428 billion in the second quarter of 2006 from EUR 1.516 billion in 2005. Sales for the adidas Group excluding Reebok grew 20% in euro terms to EUR 1.812 billion from EUR 1.516 billion in the prior year.
The shareholders of Kettle Foods ("Kettle") and Lion Capital LLP ("Lion") are pleased to announce that an agreement has been reached whereby Lion will acquire Kettle Foods, a leading premium natural potato chip company in the US and UK. Lion is acquiring the company in a private transaction which, conditional upon regulatory approval, is expected to close in the next 30 days. No financial details of the transaction are being released
Oslo, London, Copenhagen, Zurich and Tokyo are the world's most expensive cities in relation to a standardized basket of 122 goods and services. The UBS study "Prices and Earnings" shows that life is particularly expensive in London and New York if the cost of housing is included. The basket of goods and services costs the least in Kuala Lumpur, Mumbai, Delhi and Buenos Aires.
The US is the global leader in online travel expenditures. Its leisure and non-corporate travel consumers will spend $122.4 billion by 2009, up from $64.9 billion last year, eMarketer projects in its new report, Online Travel Worldwide: A Mosaic of Separate Markets.
Nike Brand President Charlie Denson announced management and organizational changes designed to strengthen alignment of the Nike brand with geographic growth opportunities and core global product categories and consumer segments. The moves evolve Nike from a product-driven business model supported by brand initiatives, to a consumer-focused organization driving profitable growth through global category management of core business segments.
Toyota Motor Corporation today announced operating results for the first quarter ended June 30, 2006. Net revenues and earnings mark new record for the first quarter.
