METZINGEN, Germany, March 29 (Reuters) – German fashion
house Hugo Boss (BOSG_p.DE: Quote, Profile, Research, Stock Buzz) forecast that China’s love affair
with luxury would drive double-digit sales and earnings growth
“We’ve had a good start to 2011 and are confident of a
another record year,” Chief Executive Claus-Dietrich Lahrs told
reporters on Tuesday.
DUESSELDORF, March 22 (Reuters) – Metro AG (MEOG.DE: Quote, Profile, Research, Stock Buzz), the
world’s No.4 retailer, said risks to economic recovery had risen
after the Japanese earthquake and unrest in north Africa,
knocking its shares despite forecast-beating 2010 earnings.
“We had a good start into the year, but since February the
macro-economic situation has impaired sales,” Chief Executive
Eckhard Cordes told analysts on Tuesday.
DUESSELDORF (Reuters) – Metro, the world’s No.4 retailer, said risks to economic recovery had risen after the Japanese earthquake and unrest in north Africa, knocking its shares despite forecast-beating 2010 earnings.
The German group, which runs cash & carries, electronics stores, hypermarkets and department stores, said on Tuesday it would step up investment in fast-growing emerging markets and online as it looks to offset weaker European markets.
DUESSELDORF (Reuters) – Metro AG (MEOG.DE: Quote, Profile, Research), the world’s No.4 retailer, is stepping up investment in fast-growing emerging markets and the internet after beating 2010 profit forecasts, helped by cost cutting in weaker European markets. The German group, which runs cash & carries, electronics stores, hypermarkets and department stores, said on Tuesday it expected sales growth to accelerate this year and earnings to rise about 10 percent, provided the economic recovery continues.
That would suggest a figure of about 2.65 billion euros (2.3 billion pounds), in line with analysts’ existing expectations.
TOKYO/FRANKFURT, March 17 (Reuters) – Airlines pulled in
extra, larger aircraft to help thousands of people leave Tokyo
and European carriers began screening aircraft and crew for
radiation as Japan rushed to prevent a nuclear disaster.
As an increasing number of governments from Britain to New
Zealand to South Korea advised citizens to leave quake-affected
northern Japan, airlines mobilised for mainly outbound traffic
from one of the world’s biggest cities.
FRANKFURT, March 16 (Reuters) – Airlines raced on Wednesday
to clear Tokyo’s airports of a backlog of passengers and help
those wanting to leave as fears grew that quake-stricken Japan
was losing control of a steadily growing nuclear crisis.
The disaster has transformed parts of Tokyo into a ghost
town as people either stay indoors or leave. [ID:nL3E7EG18Z]
FRANKFURT/CHICAGO, March 15 (Reuters) – Scores of flights
to Japan were halted or rerouted on Tuesday and air travelers
were avoiding Tokyo for fear of radiation from an
earthquake-stricken nuclear plant.
Asian and European carriers were most affected. Deutsche
Lufthansa (LHAG.DE: Quote, Profile, Research, Stock Buzz) said it was diverting flights away from
Tokyo to Osaka and Nagoya, at least until the weekend. It said
planes returning from Tokyo on Monday were not contaminated.
BERLIN, March 10 (Reuters) – Tour operators and travel officials may be
encouraging people to travel to Egypt and Tunisia after their largely peaceful
revolutions, but it will take time for holidaymakers to return in their former
Egypt’s economy ground nearly to a halt during weeks of protests that
started on Jan. 25 and toppled the government of Hosni Mubarak, and some of its
main sources of foreign exchange, including tourism, have collapsed.
BERLIN, March 9 (Reuters) – Hotels and hospitality groups
are stepping up efforts to entice travellers from booming Asia
by adapting menus, offering Chinese-language booking services
and even Indian weddings.
U.S. hospitality firm Carlson, which controls hotel group
Rezidor (REZT.ST: Quote, Profile, Research, Stock Buzz), said there were around 3 million Chinese
visits to Europe each year at present, compared with about half
a million to the United States.
FRANKFURT/BERLIN (Reuters) – Travel companies warned on Wednesday that rising oil prices could hurt demand and squeeze margins in an industry already battling fierce competition, severe weather and political risk.
Starwood Hotels Chief Executive Frits van Paasschen told Reuters that he had not yet seen any effect on demand but warned that a continued rise could pose problems.