Industry News

China Greenland Rundong Auto Group Limited, today announced its interim results for the six months ended 30 June 2016. In the first half of 2016, the Group endeavored to develop the recovering passenger vehicle market in China, transformed the former profitability model, set up the management philosophy with new automobile sales as the carrier and with..."/>
Greenland Rundong Achieved Steady Growth in 2016 1H
Detroit Free Press Mark Phelan column [Detroit Free Press]
Fred's Inc on Tuesday reported a net loss of USD6.9m, or USD0.18 per share, for the second quarter of 2016, ended 30 July 2016.. This was a 42.1% decline over a net loss of USD4.9m, or a 38.5% decline over USD0.13 per share, in the second quarter of 2015.. Total sales for the quarter were down by 3.0% to USD529.5m, as compared with USD546.1m in the second quarter of last year."/>
Fred's widens loss in Q2 2016
Culp Inc on Wednesday reported GAAP net income of USD5.3m or USD0.43 per diluted share for the first quarter ended 31 July 2016, compared to net income of USD4.7m or USD0.38 per diluted share in the prior year same quarter. Net sales for the first fiscal quarter were USD80.7m, up 0.6% over net sales of USD80.2m a year ago, with mattress fabric sales up 5.7% and upholstery fabric sales down 6.9%. Also, the company's board of directors authorised a quarterly cash dividend of USD0.07 per..."/>
Culp reports increased net income for fiscal Q1 2017 year over year
JD.com, Inc., China’ s largest e-commerce company by revenue, today announced it will be the exclusive authorized online retailer in China for the popular Wolf Blass Red Label brand, comprising 12 wines, including two wines that will be available for the first time on a Chinese e-commerce platform, Moscato and Pink Moscato.. Today’ s announcement represents an expansion of the strategic partnership between Treasury Wine Estates, one of the world’ s largest wine..."/>
JD.com Expands Selection of Top Australian Wines with Addition of Wolf Blass Red Label
G-III Apparel Group on Tuesday disclosed a net loss of USD1.3m for the second quarter of fiscal 2017 that ended 31 July 2016.. This reflects a decline in earnings when compared with net income of USD12.5m, or USD0.27 per diluted share, in the prior year's comparable period. Net sales of USD442.3m were recorded for the quarter ended 31 July 2016, down 7% from net sales of USD473.9m in the year-ago period."/>
G-III Apparel Group incurs Q2 fiscal 2017 net loss of USD1.3m
Under Armour stated on Tuesday that its plan to open a 1.3 m square-foot distribution and warehouse facility at Sparrows Point in Baltimore County in the summer of 2018 under the Tradepoint Atlantic redevelopment project. This announcement was made by Maryland Governor Larry Hogan, Maryland Secretary of Commerce Mike Gill, Baltimore County Executive Kevin Kamenetz and Tradepoint Development Executive Vice President Eric Gilbert."/>
Under Armour proposes opening of E-Commerce Sparrows Point distribution house in Maryland
News Corp., the media and publishing firm owned by Rupert Murdoch, has been a part of India's digital landscape for close to two years now. The company acquired media and publishing firm VCCircle Network in 2015 and financial advisory firm BigDecisions in 2014. It also has invested over $30 million for a 25% stake in real estate website PropTiger."/>
PropTiger more important now than it was 2 years ago: Raju Narisetti [Mint, New Delhi]
Zee Entertainment Enterprises Ltd and its subsidiaries for $385 million. The deal marks an overhaul in leading broadcaster Zee Entertainment's overall portfolio. "This is a landmark deal for Zee and a step towards a strategic portfolio shuffle as we grow our general entertainment business both in the..."/>
Sony acquires Zee's TEN Sports for $385 million [Mint, New Delhi]
LinkedIn profile, Mohanty joined Levi Strauss earlier this month."/>
Jabong's Sanjeev Mohanty joins Levi Strauss [Mint, New Delhi]
Toyota Launches Three New Pixis Joy Passenger Minivehicle Models
Star Wars Superfans #GoRogue to Reveal New Toy Line
IndAS and why the numbers don't add up [Mint, New Delhi]
Auto parts vendors feel the heat over quality [Mint, New Delhi]
Tata Motors Ltd over the now abandoned car factory in Singur, according to cause list published by apex court. The maker of the Nano car was given around 1,000 acres by the state government in 2006 to build a factory, but in the wake of violent protests from the Trinamool Congress party, the project was shelved. Soon after coming to power in 2011,..."/>
Supreme Court to pass judgement on Singur car factory on Wednesday [Mint, New Delhi]
Tata Motors Ltd is working to refurbish its brand image and change the focus of the company from being function-driven to accountability-driven, chief executive and managing director Guenter Butschek said Tuesday. Tata Motors is grappling with falling sales and shrinking market share as its brand takes a beating against the fast-growing Maruti Suzuki India Ltd and Hyundai Motor India Ltd.. "It's a matter of fact that as a brand, Tata Motors in the passenger..."/>
Silo approach impacted Tata Motors brand: CEO Guenter Butschek [Mint, New Delhi]
McDonald's Corp., against a Delhi high court order that allowed the US fast food giant to pursue arbitration. This confirms the high court verdict of 21 July which permitted McDonald's to pursue arbitration against Bakshi in the London Court of International Arbitration. McDonald's Corp. terminated its joint venture agreement with Bakshi, managing..."/>
McDonald's case: SC dismisses Vikram Bakshi's plea; arbitration to continue [Mint, New Delhi]

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