Business
Slower recovery in Greater China and potential slowdown in other markets reflected in adjusted adidas outlook for financial year 2022
adidas announced today that the company is adjusting its outlook for the financial year 2022. While second quarter results were somewhat ahead of expectations reflecting continued strong momentum in Western markets and a return to growth in Asia-Pacific, the company has been experiencing a slower-than-expected recovery in its business in Greater China since the start of the third quarter.
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Inditex’s shareholders today approved the company’s 2021 financial statements and a total dividend of €0.93 per share at its Annual General Meeting at its headquarters in Arteixo. They also ratified the appointment of Marta Ortega Pérez as Inditex's chairperson and of Óscar García Maceiras as its CEO, effective from 1 April 2022 and 30 November 2021, respectively.
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Jeans are the evergreens of the clothing industry, but are increasingly criticized for their negative impact on the environment. Manufacturers are looking for efficient as well as green production technologies for the indigo fabric - and they have found them at KARL MAYER.
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Loepfe is discovering new innovations with the Swiss start-up firm Almer Technologies. Almer is rethinking communication and introducing augmented reality remote assistance to businesses.
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Italian textile entrepreneur, Alberto Paccanelli, has been re-elected as President of EURATEX during its General Assembly on 17 June; he will thus extend his mandate with 2 more years, until June 2024. Paccanelli is CEO of the Martinelli Ginetto Group, active in the high-end home textiles. He is also a Board member of Sistema Moda Italia and Confindustria Bergamo.
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Kimberly-Clark announces second quarter 2022 results
"I'm pleased to close the first half of the year with another quarter of excellent execution by our teams who delivered strong organic sales growth, with increases in all our segments. Our growth strategy is working," said Mike Hsu, Chairman and CEO, Kimberly-Clark. "Our results also reflect ongoing market volatility and significant input cost inflation. We continue to be thoughtful with our response to inflation, focusing on providing value to our consumers while leveraging price and cost discipline to mitigate macro headwinds for margin improvement over time."
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Well positioned for e-mobility and sustainability, but low production volumes and inflation impact profitability and the net result
Lower volumes due to geopolitical developments and the sharp rise in inflation impacted the result in the first half of 2022. In a slightly declining market, Autoneum increased revenue in local currencies by 0.5%. At CHF 888.7 million, revenue in Swiss francs reached the previous year’s level. Despite the challenging environment, Autoneum achieved a positive operating result of CHF 6.4 million (EBIT margin: 0.7%). The net result decreased to CHF –12.8 million.
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Business
H&M decides to buy back own shares for SEK 3 billion
The board of directors of H & M Hennes & Mauritz AB has decided to utilise the authorisation granted by the 2022 annual general meeting to acquire the company’s own B shares in order to transfer capital to the shareholders and adjust the company’s capital structure.
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Sales success of a solution for more efficiency in warp preparation
Lotustex Textile invests in KARL MAYER's first LINK-MATIC® system for automatic batch change on PRODYE®-S slasher indigo dye range
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Recover™ accelerates growth with $100 million minority equity investment
Recover™, a leading materials science company and producer of sustainable, premium recycled cotton fiber and cotton fiber blends, announced today that it has closed a new $100 million minority equity capital investment led by the Sustainable Investing business within Goldman Sachs Asset Management (Goldman Sachs). Goldman Sachs is investing alongside majority shareholder STORY3 Capital Partners.
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Business
Inditex reports first-quarter revenue growth of 36%
Inditex Group reported first-quarter (1 February - 30 April 2022) revenue growth of 36% to €6.74 billion, underpinned by a sharp recovery in store traffic and a good reception for all seven brands’ newseason collections.
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EFI advances growth strategy in high-value digital imaging with Inèdit software acquisition
Electronics For Imaging, Inc. (“EFI™”), a Siris portfolio company, today announced that it has acquired Inèdit Software S.L., a developer of raster image processors (RIPs) and related software for digital industrial textile printing. The acquisition extends EFI’s strategy to accelerate digital transformation in industrial print through investments that advance the company’s presence and capabilities in Packaging & Corrugated, Display Graphics, Textile, and Building Materials/Décor applications. Inèdit will be integrated into the Reggiani textile business.
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VF Corporation reports broad-based growth in fourth quarter and introduces full year fiscal 2023 outlook
VF Corporation (NYSE: VFC) today announced financial results for its fourth quarter (Q4'FY22) and fiscal year ended April 2, 2022 (FY22).
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