Division reports 11.2% contraction in sales for 2024

Valve’s recent price increase for the Steam Deck appears to have had a much greater impact than expected. According to an analysis published by Boiling Steam, weekly sales of the popular portable gaming PC plummeted after the new prices took effect. Read also: AERONAUT – everything that flies above the ground: aviation, UAVs and drones, […] Post Steam Deck sales are slipping: Valve Is feeling the impact of price hikes at Root-Nation.com.

After a 3.9% sales drop, the drinks group said weak demand in its biggest markets would keep sales flat.

Net profit fell 26%, with U.S. inventory cuts and weak Chinese demand keeping the outlook subdued

After a 3.9% sales drop, the drinks group said weak demand in its biggest markets would keep sales flat.

Net profit fell 26%, with U.S. inventory cuts and weak Chinese demand keeping the outlook subdued

The company’s distilling revenue plunged 42%, extending a downturn that forced pauses at two Kentucky operations.

The company’s distilling revenue plunged 42%, extending a downturn that forced pauses at two Kentucky operations.

Aging consumers and lack of entry-level appeal drive 27% drop in wine sales volume since 2019

Currency headwinds and weak demand in China and the U.S. weigh on results as premiumization strategy continues

Currency headwinds and weak demand in China and the U.S. weigh on results as premiumization strategy continues

Tesla sales are falling off a cliff in key markets around the world — as its CEO Elon Musk continues working overtime to tank its reputation.

Signature Global reports a 61% YoY drop in Q4 FY25 bookings to ₹1,620 crore, citing project delays. Liabilities and expenses continue to worry investors.

Stock market sinks after Target reports sales drop  CBS News

By Mathias de Rozario (Reuters) -Tyre maker Michelin (EPA:MICP) reported a slightly smaller than expected drop in first-quarter sales as its core automotive, scooters and motorcycles division outperformed. Michelin’s sales fell 1.9% from a year earlier to 6.52 billion euros ($7.40 billion), compared with a forecast of 6.43 billion euros in a company-provided consensus. "Volumes were down 7.3% due to lower original equipment sales in all segments, prolonging the trend observed in second-half 2024," the French company said. Chief Financial Officer Yves Chapot said in a call with analysts, they were expecting the original equipment market to improve slightly in the second half of the year for their core Automobile and Two-wheel segment which includes mainly tyres for cars, light trucks, motorcycles and scooters. Sales in the segment, rose by 1.2%, driven by growing sales in replacement tyres while its truck and speciality businesses segments were falling 3.5% and 7.3% in the quarter. The group continue to be impacted by a slowdown in the automotive market, especially in Europe. "Demand for new vehicles continued to be held back by persistent uncertainty about regulations governing the market’s transition towards hybrid and electric technologies, as well as by consumers’ reduced purchasing power," Michelin said. The group, which employs more than 23,500 people at its production sites across the U.S. and Canada has, since March, been facing tariffs imposed by U.S. President Donald Trump. "We have already made sure ... that some flows, either raw material or some components between some countries have been redirected, for example, between the US and China, or minimized in the other way in order to protect ourselves," Chapot said. "Looking particularly at the US market, which represents 30% of our sales, 70% of what we sell in the USA is built in the USA, and this percentage is going up to 85% if we include Canada," he added. ($1 = 0.8807 euros)

PARIS - Kering (EPA:PRTP) reported on Wednesday a bigger-than-expected decline in first-quarter revenue, the latest set of disappointing results from the luxury group as its star label Gucci continues to struggle amid a worsening economic environment. Group revenue in the first three months of the year amounted to 3.88 billion euros ($4.40 billion), an organic year-on-year decline of 14%, the Paris-based group said. A Visible Alpha consensus of analysts cited by HSBC had forecast a 9.7% drop. "We are increasing our vigilance to weather the macroeconomic headwinds our industry faces," Chairman and CEO Francois-Henri Pinault said in a statement. Sales at Italian fashion house Gucci, which accounts for about half of total group revenue, were down 25%, below analyst expectations of a 19% decline. Kering’s results were the latest signs the luxury sector could be headed for another tough year following U.S. President Donald Trump’s recent tariff announcements, which sparked fears of a recession, while sales in China, another crucial luxury market, remain weak. Kering has closed 25 stores so far this year, finance chief Armele Poulou told journalists on a call, adding that the company was determined to further streamline its operations and shed underperforming boutiques. Trends in Asia, where sales were down by 25%, were in line with those of the last quarter, while Western Europe and North America, both down 13%, saw a sequential deceleration, Kering said. The group, which also owns fashion brands Yves Saint Laurent, Bottega Veneta and Balenciaga, has been facing pressure from financial markets after a string of profit warnings last year as it tries to revive its core Gucci brand. Its shares have lost over 60% of their value since the first warning in March 2024. In an effort to reverse the fortunes at Gucci, its former cash cow which lost market share and almost a quarter of its revenue last year, Kering recently named in-house talent Demna as the label’s new design chief, triggering another share selloff from investors who had hoped for a prominent external hire. Demna has already started working with Gucci teams, Poulou said. She, however, declined to say when the designer’s first collection will be shown on the catwalk. Should you invest $2,000 in PRTP right now? ProPicks AI are 6 model portfolios created by Investing.com which identify the best stocks for investors to buy now. The stocks that made the cut could produce monster returns in the coming years. Is PRTP one of them?