sales

Why Investors Should Keep an Eye on Changing Sales Strategies

In the first half of 2020, most car manufacturers are seeing decreased sales.

General Motors (NYSE:GM) recorded a 7% decrease in total vehicle sales in the U.S. during the first quarter of 2020 compared to the year-ago quarter, with sales falling 34% year over year in the second quarter. Ford (NYSE:F) saw a 21% decline in wholesales and a 15% decline in revenue year over year in the first quarter, with sales falling by a third in the second quarter compared to the prior-year quarter. Fiat Chrysler (NYSE:FCAU) reported a 15% decrease in revenue in the first quarter compared to the prior-year quarter. Even Tesla’s (NASDAQ:TSLA) second-quarter deliveries fell 4.9% compared to the year-ago quarter, despite the much-awaited opening of its Shanghai Gigafactory.

One reason for the decreased sales is likely lower income from high unemployment numbers. However, another big contributor is the fact that most car sales are made

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Sellfy is turn-key Ecommerce for creators who want online sales fast and hassle-free

TLDR: Sellify offers an ecommerce website that’s available in 5 minutes and all the infrastructure to start selling and shipping all of your digital and physical products with ease.

Creators create. It’s right there in the word. It’s what they do. Whether they’re creating an ebook, music, a video or even a physical product, the time and attention of a creator often wants to be focused on that creative muse. It’s that same drive that likely kickstarted the whole project in the first place.

What they don’t want is to get bogged down with the minutia and tech issues often involved with ultimately selling their product online. That’s the business stuff — and it often holds significantly less appeal. Beyond getting paid, of course.

For nearly a decade, Sellfy has flown the flag for the digital creator, offering turn-key online sales solutions for artists and entrepreneurs who don’t want to

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LVMH expects pandemic to dampen sales for some time yet

PARIS (Reuters) – The fallout from the coronavirus crisis will weigh on LVMH’s <LVMH.PA> earnings for some time yet, though there were some signs of recovery this month, executives at the world’s biggest luxury goods group said on Tuesday.

Second quarter earnings at the owner of Louis Vuitton and other brands will be hit particularly in Europe and the United States, Chairman Bernard Arnault told a shareholder meeting, conducted online.

“We can only hope at this point for a gradual recovery,” Arnault told investors, adding that the second half of the year looked better. He flagged some “quite vigorous” signs of recovery in June, as virus lockdowns lifted in much of Europe, including in Milan and Paris, two major shopping hubs.

Luxury labels are still suffering from a lack of tourist travel even though consumption is picking up again on a local level as stores reopen, including in China.

Finance

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Big Issue sellers to resume street sales with PPE and contactless card machines

Big Issue vendors are set to return to the streets next week with personal protective equipment (PPE) and contactless payment card machines to help keep them safe during the coronavirus pandemic.

On 20 March, around 2,000 vendors were withdrawn due to the coronavirus lockdown but sales of the magazine have continued through subscriptions and at supermarkets and other stores.

Now, The Big Issue Group has announced that its sellers will return in England, Wales and Scotland from 6 July, supported by a health and safety plan of action which ensures they are able to sell the magazine safely and customers are able to buy with confidence.

As part of the new rules, sellers will be given access to PPE, including face masks, visors, latex gloves and hand sanitiser. They will also be provided with new bags for the magazines and contactless card payment equipment.

Some local sellers might also be

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Cannes Delivers Big Titles, Sales & Hope but Questions Market Models

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“The Blacksmith,” “Ferrari,” “Armageddon Time” and “The Card Counter” look like market highlights of an extraordinary Cannes market, which saw its two virtual platforms delivering for a select number of big U.S. projects, amid large market caution and even fear of a second COVID-19 spike.

In the art film sector, Cannes Official Selection label titles made much of the running, with distributors lamenting that they would have loved to have seen more screened at Cannes. “Without the festival, the market was weak in terms of arthouse, because we lacked the buzz, hype and the experience of being all together in a screening room,” said Stefano Massenzi, head of acquisitions and business affairs at Italy’s distribution banner Lucky Red.

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Equally, more mainstream distributors looked for greater depth in the pre-sales market. Most everyone, however, was delighted and some even surprised that

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Rite Aid’s (RAD) Q1 Loss Narrower Than Expected, Sales Up Y/Y

Rite Aid Corporation RAD reported first-quarter fiscal 2021 results, wherein loss was narrower than expected, while sales beat the Zacks Consensus Estimate. Both metrics improved year over year. The company gained market share and grew double digits in front-end sales as it kept stores open amid the coronavirus outbreak and enhanced its digital capabilities to provide essential services to customers.

Solid growth in prescription deliveries to the tune of 86%, driven by free home delivery services as well as a sturdy performance at Elixir, also contributed to the quarterly results. Further, it noted that the new RxEvolution strategy is on track.

Despite better-than-expected first-quarter results, management did not provide any guidance for fiscal 2021 due to continued uncertainty in relation to the COVID-19 pandemic. It also anticipates possible adverse impacts on acute prescription volumes, SG&A expenses and Pharmacy Services Segment memberships.

Rite Aid Corporation Price, Consensus and EPS Surprise

Rite

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QVC’s Viewership Is Up 10% Thanks to Coronavirus (But How Are Sales?)

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The coronavirus pandemic has had quite a major effect on retail. Overall U.S. retail sales plunged in April but rebounded in May, as e-commerce has grown while in-person sales have plunged. Then there’s home shopping.

According to a report in mid-May by The Hustle, viewership for networks owned by Qurate Retail Inc, which includes both Home Shopping Network and QVC, jumped 10 percent between March and May.

“The magic of QVC, HSN, and ShopHQ right now is that they sell products, not ads,” the report said. “QVC’s US culinary sales are up 40%, and its US yard and outdoor space listings are bringing in 65% more than last year.”

The New York Times had reported in late March that QVC should stand for “Quarantine, Value, Convenience.” QVC, the Times said, remained open even as most Pennsylvania-based businesses were closed in the opening weeks

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Pret a Manger job cut fears as sales plunge

A leaked video revealing how sales have plunged at Pret a Manger during the coronavirus crisis has raised fears about job cuts at the sandwich chain.

Boss Pano Christou told staff in a recent online meeting that an announcement about the “job situation” would be made on 8 July.

He said Pret’s global weekly takings had fallen to £3m, just 15% of what they would normally be.

A Pret spokeswoman said staff would be the “first to hear about any changes”.

Pret stores in the UK, the US and France have been hit hard by lockdowns as office workers stayed in their homes.

In May, Pret called in consultants to help renegotiate its rents as it attempted to avoid store closures, and said it was putting a “clear plan” in place to deal with reduced footfall.

That plan could involve job cuts.

In a recent video call to staff, which

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JD.com racks up $38B in sales in annual online shopping fest

HONG KONG (AP) — JD.com’s annual “618” online shopping extravaganza racked up a total of 269.2 billion yuan ($38 billion) worth of transactions, as consumers splurged during China’s first major e-commerce sale since the pandemic began.

This year’s tally was 33% higher than last year’s 201.5 billion yuan in sales. It reflects an increasing shift to online shopping as consumers shun brick-and-mortar stores.

The “618” shopping event, which typically spans from June 1 to June 18, was first conceived by JD.com to rival Alibaba’s November 11 Singles’ Day festival. It is being closely watched as a barometer of consumer appetites for spending given pressures from the pandemic. China’s economy contracted for the first time in nearly three decades during the first quarter of this year.

Imported goods remained popular among JD.com customers, who snapped up luxury products, electric shavers and coffee machines. Some of the most popular brands among customers

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Car dealerships are reopening but the pivot to online sales has begun

Car dealerships are among the next establishments to reopen in England from June 1. It’s welcome news to an industry that suffered an enormous drop in sales following the nationwide lockdown that started on March 30. New car registrations in Britain were down 97% in April 2020 compared to April 2019.

Coronavirus hit at an already tough time for the car industry. Competition from disruptors like car sharing companies had seen new UK car registrations drop by 5.8% in January and February 2020, with diesel sales especially hard hit.

One company that’s particularly well placed to meet the challenge ahead of reviving sales is Volkswagen. The dieselgate emissions scandal cast a long shadow over VW, but the German car maker is going to great lengths to reposition itself at the front of the electric vehicle market.

To make this process more smooth, it recently announced that all its dealerships have

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