By Reuters Staff
2 Min Read
(Reuters) - Impossible Foods said on Tuesday it would cut the prices of its faux meat patties by 20% at U.S. grocery stores as the plant-based protein maker ramps up production with a larger plan to eventually undercut ground beef prices.
Impossible Foods, the maker of the plant-based Impossible Burger, and rival Beyond Meat Inc have been the leaders in plant-based alternatives over the past two years as consumers, worried about their health, environmental impact and animal welfare, look to broaden or shift from chicken, pork and beef-based diets.
Demand for plant-based meat also rose during the pandemic after beef and pork producers shut many meat plants to curb the rapid spread of the coronavirus outbreak.
Europe lockdowns expected to dent Capri revenue, China in focus - Netscape Money & Business
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3 Min Read
(Reuters) - Capri Holdings is expected to post a fourth straight fall in quarterly revenue on Wednesday as the blow from fresh lockdowns in Europe eclipses a China-driven recovery in sales of its luxury handbags and apparel.
FILE PHOTO: The logo of Michael Kors is seen on an outlet store in Metzingen, Germany, June 16, 2017. REUTERS/Michaela Rehle
A spike in coronavirus infections from late last year forced many European governments to put their economies back into lockdown, keeping consumers away from stores during the crucial holiday shopping season.
Capri not only has to deal with store closures in Europe and sluggish department store traffic due to the pandemic, but also a “stale” Michael Kors brand image, Jane Hali & Associates retail analyst Jessica Ramirez said.
Levi Strauss forecast disappoints as virus resurgence shutters stores
The Levi Strauss & Co. logo is seen on display ahead of IPO on floor of New York Stock Exchange (NYSE) in New York
(Reuters) – Levi Strauss & Co on Wednesday forecast first-quarter results below analysts’ estimates as the resurgence of COVID-19 shutters the denim maker’s stores in major markets, sending its shares 9% lower in extended trading.
The spike in coronavirus cases from late last year has led to lower traffic at stores and fresh capacity restrictions for shopping centers in key regions such as California, denting retailers’ sales during the crucial holiday shopping season.
By Reuters Staff
1 Min Read
FILE PHOTO: A view of the sign outside the Lowes store in Westminster, Colorado February 26, 2014. REUTERS/Rick Wilking
(Reuters) - Lowe’s Cos Inc said on Thursday it plans to hire more than 50,000 workers across its U.S. stores in the spring as the retailer races to meet pandemic-fueled demand for home improvement products.
The company also said it would pay frontline workers about $80 million in additional discretionary bonuses, taking its total COVID-19 financial commitment to employees and communities to nearly $1.3 billion.
Demand for home improvement goods has surged since the start of the pandemic as homeowners, with limited options for travel or leisure activities, spend more of their discretionary income on minor remodeling and repair work.
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