Monday, 4 Jul 2022

Richemont FY22 Profit Climbs With Strong Sales Growth; Proposes Dividends – Quick Facts

Moderne Glass Company Recalls Coffee Cups Due To Burn Risk

Moderne Glass Company has recalled about 2,500 coffee cups due to burn hazard.

According to a statement from Consumer Product Safety Commission, the recalled coffee cup can crack or break when hot water is poured into it, posing a burn hazard.

Moderne Glass Company said it has received six reports of cups cracking after pouring hot water into them. No injuries have been reported.

The recall involves the Moderne Glass Company 15-ounce coffee cups. The ceramic cup are black on the outside and white on the inside. They measure about 4 inches high and 3 inches wide. Model number “71500-White” is printed on the bottom of the cups.

The recalled cups were sold online at www.glassamerica.com as promotional products with company names on them from February 2021 through February 2022 for about $4.

The company has asked its customers to immediately stop using the recalled coffee cups and contact Moderne Glass Company to receive a full refund.

VF Corp Q4 Profit Increases, but misses estimates

VF Corp (VFC) announced earnings for its fourth quarter that increased from last year but missed the Street estimates.

The company’s bottom line totaled $80.44 million, or $0.21 per share. This compares with $61.74 million, or $0.16 per share, in last year’s fourth quarter.

Excluding items, VF Corp reported adjusted earnings of $0.45 per share for the period.

Analysts on average had expected the company to earn $0.46 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 9.3% to $2.82 billion from $2.58 billion last year.

VF Corp earnings at a glance (GAAP) :

-Earnings (Q4): $80.44 Mln. vs. $61.74 Mln. last year.
-EPS (Q4): $0.21 vs. $0.16 last year.
-Analyst Estimate: $0.46
-Revenue (Q4): $2.82 Bln vs. $2.58 Bln last year.

Avalanche vs. Blues live blog: Real-time updates from Game 2 of the NHL playoffs second-round series – The Denver Post

Live updates, tweets, photos, analysis and more from the Colorado Avalanche game against the St. Louis Blues at Ball Arena in Denver on May 19, 2022.

Mobile users, if you can’t see the live blog, tap here.

Wildfire burning in Ouray County on Sims Mesa, some residents under pre-evacuation notice.

A wildfire is burning is burning in Ouray County on Sims Mesa.

Firefighters are on scene and the public is urged to stay away from the fire area. Residents in the Sims Mesa area, between Montrose and Ridgeway, are on pre-evacuation because of the fire which is releasing a large column of smoke.

The area, like other widespread parts of the state, is under a red flag warning for critical fire danger until 10 p.m. Thursday.

 

U.S. Existing Home Sales Slump More Than Expected In April

Existing home sales showed a significant decrease in the month of April, according to a report released by the National Association of Realtors on Thursday.

NAR said existing home sales tumbled 2.4 percent to an annual rate of 5.61 million in April after plunging by 3.0 percent to a revised rate of 5.75 million in March. Economists had expected existing home sales to decrease by 0.7 percent.

With the bigger than expected slump, existing home sales dropped to their lowest annual rate since June of 2020.

“Higher home prices and sharply higher mortgage rates have reduced buyer activity,” said Lawrence Yun, NAR’s chief economist.

He added, “It looks like more declines are imminent in the upcoming months, and we’ll likely return to the pre-pandemic home sales activity after the remarkable surge over the past two years.”

The report also showed housing inventory totaled 1.030 million units at the end of April, representing 2.2 months of supply at the current sales pace.

NAR said the median existing-home price for all housing types in April was $391,200, up 14.8 percent from $340,700 in April of 2021

No Longer My Mother’s Daughter

“I am transmasculine, which is to say I understand my body even less than I understand my mother.”

Send any friend a story

As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share.

By August Singer

PHOTOS: Colorado Avalanche lose 4-1 to St. Louis Blues in Game 2 – The Denver Post

The Colorado Avalanche fell 4-1 to the St. Louis Blues in Game 2 of their second-round NHL playoff series at Ball Arena in Denver on Thursday, May 19, 2022.

Richemont FY22 Profit Climbs With Strong Sales Growth; Proposes Dividends – Quick Facts

Swiss luxury goods group Compagnie Financiere Richemont AG (CFRUY.PK) reported Friday that its fiscal 2022 profit climbed 61 percent to 2.08 billion euros from last year’s 1.29 billion euros.

Earnings per share grew 57 percent to 3.611 euros from 2.296 euros a year ago.

Operating profit more than doubled to 3.39 billion euros, delivering improved operating margin of 17.7 percent, compared to last year’s 11.2 percent.

Sales during the year were 19.18 billion euros, a 46 percent increase over last year’s 13.14 billion euros, with all Maisons, channels and regions achieving double-digit growth. Sales climbed 35 percent on a two-year comparative period.

Further, the Board proposes to pay an ordinary dividend of 2.25 Swiss francs per ‘A’ share, and 0.225 franc per ‘B’ share,, an increase of 13 percent over the prior year, as well as an additional special dividend of 1.00 franc per ‘A’ share/10 ‘B’ shares, subject to shareholders’ approval at the Annual General Meeting on September 7.

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