British multinational consumer goods company Reckitt Benckiser Group Plc agreed to sell its Chinese baby formula business to Primavera Capital Group for a price tag of $2.2 billion. This comes as the Slough, England-based company seeks to exit from the sector which is currently taking the strain.
Reckitt revealed in...
Thai fashion e-commerce startup Pomelo plans to offer its analytics and demand forecast technology to other fashion brands in the region, its chief executive recently announced. This comes as an effort to boost revenue for the company amid slowing physical store sales.
Pomelo chief executive David Jou stated during an...
With coronavirus-related trade restrictions being eased, South African retail holding company Massmart experienced an 8% rise in sales during the 19 weeks ended May 9. The company, which is partly owned by U.S. retail giant Walmart, generated 30.5 billion rand ($2.17 billion) in sales, the equivalent of an 8.54%...
Retail giant Walmart (WMT) posted its quarterly earnings for Q1 of 2021 on Tuesday; a report which showed its sales figures to have significantly exceeded all expectations set by industry experts. Walmart shares gained 1% in early trading on Tuesday morning.
Total Q1 revenue was $138.31 billion, almost $4 billion...
Extend, a startup aimed at helping businesses offer product warranties, revealed on Tuesday that it had raised as much as $260 million in its latest round of fundraising efforts, which were led by SoftBank Group Corp's Vision Fund 2. In response to the company's overwhelming success, Nagraj Kashyap, managing...
In a late-stage funding round led by Durable Capital Partners, billing software company HoneyBook, Inc. raised over $155 million in funds. This Series D funding round was comprised of investments from firms such as Tiger Global Management, Battery Ventures, Zeev Ventures, and 01 Advisors.
Based in San Francisco, California, HoneyBook...
Canadian auto parts manufacturing company Magna International reported on Thursday that its quarterly profit skyrocketed by more than 136%, as heavily increased vehicle demand led to a surge in the purchase of body structures, chassis, and powertrains. This quarterly profit increase sees Magna's full-year revenue outlook experience its own...
Tesla is one of the most lucrative companies in the world, and yet people still managed to underestimate it so far this year. The company recently posted a first-quarter profit that handsomely surpassed estimates, thanks to a shockingly high level of deliveries throughout Q1.
But although the profit was higher...