Siddharth's Feed
Jul 13, 2015

Wal-Mart takes on Amazon’s ‘Prime Day’ with online sale

By Siddharth Cavale

(Reuters) – Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research, Stock Buzz) will launch a three-month online sale on Wednesday to take on Amazon.com Inc’s (AMZN.O: Quote, Profile, Research, Stock Buzz) “Prime Day”, a highly publicized shopping event for members of Amazon Prime shipping and digital content service the same day.

The world’s largest retailer also cut the size of the minimum order eligible for free shipping to $35 from $50 for at least 30 days.

Jul 9, 2015

Coty buying P&G beauty business for $12.5 bln

July 9 (Reuters) – Coty Inc, the U.S. maker of
Calvin Klein and Chloe perfume, will buy Procter & Gamble’s
perfume, hair care and make-up businesses for $12.5
billion in the biggest cosmetics merger in recent history.

Coty would become the No. 1 perfume maker ahead of L’Oreal
and No. 3 make-up provider behind its French rival and
Estee Lauder. It would run the perfume licenses of Gucci,
Hugo Boss and Dolce & Gabbana as well as make-up brands Cover
Girl and Max Factor, more than doubling its size with combined
sales of more than $10 billion.

Jul 9, 2015

P&G to sell beauty business to Coty in $12.5 billion deal

By Siddharth Cavale

(Reuters) – Coty Inc (COTY.N: Quote, Profile, Research, Stock Buzz) has sealed a deal to buy Procter & Gamble Co’s (PG.N: Quote, Profile, Research, Stock Buzz) beauty business, which includes brands such as Clairol and Wella, in a $12.5 billion transaction that will make Coty the world leader in perfume and hair care.

Coty’s shares fell 6 percent in early trading after the widely expected deal, while P&G was up 0.6 percent.

Jul 6, 2015

Starbucks to hike coffee prices in some U.S. outlets

By Siddharth Cavale

(Reuters) – Starbucks Corp said it would raise prices for some of its coffee beverages by 5-20 cents in the United States from Tuesday.

Starbucks, however, will leave the prices of some popular beverages such as the Grande Brewed Coffee and the Frappuccino unchanged in most U.S. outlets, it said on Monday.

May 15, 2015

Who’s calling Avon? Shares spike on mystery takeover bid

By Siddharth Cavale and Sinead Carew

(Reuters) – Shares of Avon Products Inc (AVP.N: Quote, Profile, Research, Stock Buzz) soared as much as 20 percent after an apparently non-existent firm incorporated in a remote archipelago in the Indian Ocean offered to buy the cosmetics company for almost three times its market value.

Avon said it had not received any such offer.

The purported acquirer, which identified itself as PTG Capital Partners, said in a U.S. Securities and Exchange Commission filing on Thursday it would pay $18.75 per share for Avon. (bit.ly/1A2HwEy)

May 14, 2015

Who’s calling Avon? Shares spike on mystery acquisition offer

By Siddharth Cavale

(Reuters) – Shares of Avon Products Inc (AVP.N: Quote, Profile, Research, Stock Buzz) soared as much as 20 percent after an apparently non-existent firm based in a remote archipelago in the Indian Ocean said it had offered to buy the cosmetics company for almost three times its market value.

Avon said it had not received any such offer.

The purported acquirer, which identified itself as PTG Capital Partners, said in a filing with the U.S. Securities and Exchange Commission on Thursday it would pay $18.75 per share for Avon. (bit.ly/1A2HwEy)

May 7, 2015

Lumber Liquidators to suspend sales of Chinese laminate flooring

May 7 (Reuters) – Hardwood retailer Lumber Liquidators
Holdings Inc said it would suspend sales of all laminate
flooring sourced from China, following allegations that the
products contained excessive levels of cancer-causing
formaldehyde.

The company is facing U.S. government investigations after
CBS’s “60 Minutes” show made the allegations in
March.

Apr 23, 2015

Hershey’s China growth target in peril as sales tumble

April 23 (Reuters) – “There’s a Smile in Every Hershey’s
Bar”, the famous slogan goes, but Hershey Co Inc doesn’t
seem to have a lot to smile about in China these days.

Sales of the maker of The Great American Chocolate Bar
nearly halved in the world’s most populous country in the first
quarter of the year compared with the same period of 2014.

Apr 21, 2015

Under Armour’s slowing sales growth highlights valuation risks

April 21 (Reuters) – Under Armour Inc paused for
breath on Tuesday when it reported quarterly sales growth of
below 30 percent for the first time in more than a year.

It wasn’t a bad quarter for the sportswear maker, still
riding high on golf star Jordan Spieth’s victory at the Masters.
But Wall Street’s reaction – the stock on track for its worst
day in a year – underscored the perils of a lofty valuation.

Feb 24, 2015

Home Depot sales beat estimates; warns on currency

By Nandita Bose and Siddharth Cavale

(Reuters) – Home Depot Inc (HD.N: Quote, Profile, Research, Stock Buzz), the world’s No. 1 home improvement chain, posted a better-than-expected rise in quarterly same-store sales on Tuesday but the company warned that a strong dollar will likely hurt 2015 earnings.

Chairman and Chief Executive Craig Menear said if the U.S. dollar stays at current levels the company expects a negative impact of $1 billion to 2015 sales growth and a hit to earnings of 6 cents a share for the year.