Today - Friday, March 7, 2014
- Jamba (JMBA) managed to increase profitability in Q4 on flat revenue trends as it met some strategic targets.
- The company is facing some extra scrutiny to see how it fares with Starbucks upping its juice game.
- Jamba ended the quarter with 803 units.
- JMBA -1.6% premarket
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- A solid Q4 report from Foot Locker points to more strength at Nike (NKE), according to retail analysts.
- Footwear was one of the few retail categories that showed accelerating sales through the tough holiday period and didn't get caught up in the promotional fervor.
- Nike products have continued to sell well into Q1, according to channel checks.
- Top officials in Hainan say they will never allow casinos to be built in the province.
- The Chinese island has been the subject of development by InterContinental Hotels Group (IHG), Starwood Hotels & Resorts (HOT), and MGM Resorts (MGM) due to the upscale tourism it's bringing in.
- For the foreseeable future, Macau will remain the only region with legalized gambling in China.
- The FCC says it will discuss new rules that would limit the ability of broadcasters to work together to negotiate better deals with cable companies.
- The concern of the regulator is that TV networks have adopted agreements to share resources in moves that skirt ownership rules in viewing areas.
- Foot Locker (FL) reports comparable-store sales rose 5.3% during Q4. An expansion of the company's shop-in-shops initiative helped to boost results.
- SG&A expenses were flat for the period.
- Inventory ended up at $53M, up 4.5% from last year's level.
- The company sees a double-digit percentage increase in EPS in 2014.
- FL +3.6%
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- Volkswagen (VLKAY) reports sales of Golf cars grew by 28% in January to keep the model the best-selling car in Europe.
- Overall, the automaker grew sales by 7.8% during the period to beat Ford and Peugeot for the top spot.
- Amid recovering demand in Europe, Opel/Vauxhall and Renault (RNSDF) have lost some market share in recent months.
- Mexico's Federal Telecommunications Institute (IFT) is moving to boost competition in the telecom and broadcasting sectors and it is notifying companies that it considers to be dominant.
- In a statement, IFT didn't mention names but it was most likely referring to America Movil (AMOV) in the telecom market and Televisa (TV) in the broadcasting sector.
- The classification is important, as the IFT has new powers to break up dominant players, although the regulator has said in the past that such a move would be a last resort.
- Instead, the agency is implementing other measures such as holding a tender for two new national broadcasters.
- However, the IFT needs to wait for final legislation to be passed before it can fully move ahead with reform.
- The net worth of U.S. households and nonprofit organizations climbed 14% in 2013, or almost $10T, to a record $80.7T, a Fed report says, with Americans' wealth boosted by the soaring values of stocks and property.
- However, inequality has increased, says Fed economist William Emmons. "There seems to be a disconnect: There are big wealth gains, but not much follow-through on consumer spending."
- Much of the increase has gone to the wealthy and to older Americans, both of which are more likely to save than spend. The trend means that the immediate effect on economic growth could be limited.
- Telecom Italia's (TI) net loss narrowed to €674M ($927.9M) in 2013 from €1.63B a year earlier, due to a smaller impairment on the goodwill of its domestic operations.
- TI would have made a net profit of €1.5B had it not been for a €2.2B goodwill charge taken in H1.
- Consolidated revenue declined an organic 5.2% to €23.4B.
- EBITDA fell €804M to €9.7B.
- Will offer to repurchase €500M in bonds.
- Net debt drops €1.5B to €26.8B.
- TI will pay a dividend of 0.0275 ($0.038) a piece on savings shares but nothing on ordinary shares.
- Shares are -1.2% in Milan. (PR)
- Disney (DIS) has deepened its relationship with Shanghai Media Group Pictures, with the companies agreeing to collaborate on films that will incorporate Chinese themes. The U.S. company already has a partnership with Shanghai Media digital unit BesTV New Media.
- The expanded co-operation marks the latest attempt by a U.S. studio to increase its presence in a market that is forecast to grow to $148B by 2015 from $120B in 2013.
- It also comes after Disney's Iron Man 3 debuted in China, and included a leading Chinese actress and footage that was filmed in the country.
Thursday, March 6, 2014
- American Apparel (APP) -8.9% AH after providing downside FY 2014 revenue guidance and saying it received a noncompliance notice from NYSE MKT.
- APP sees FY 2014 sales of $634M-$658M, flat to a 4% Y/Y increase but below analyst consensus estimate of $667M, citing the "challenged implementation" of its new distribution center which disrupted the flow of merchandise to stores and wholesale clients.
- Says it received a letter from NYSE MKT stating that the company is not in compliance with continued listing standards.