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As a disruptor, India’s direct-to-consumer (D2C) has dramatically changed the way people shop and managed to unlock new customer relations with brands that would have otherwise not existed.
In India, D2C serves as an ideal instrument for startup companies to deal with clients or consumers directly. The country has experienced a big boom in D2C brands in recent years that will soon touch the $100 billion market by 2025, according to Salesforce.
Category creators from the D2C ecosystem featuring Shantanu Deshpande, Founder, and CEO, Bombay Shaving Company; Chaitanya Ramalingegowda, Director and Co-founder, WakeFit.Co; Vikas Bagaria, Founder, Pee Safe; and Mohit Kumar, Founder, and CEO, BusinessOnBot came together at YourStory’s premier edition of the Brands of New India Mega Summit to discuss what it takes to think out of the box and build a sustainable business that customers love.
Driving online visibility and sales
Mohit began interpreting his overviews towards the stable market, “WhatsApp is an extremely effective channel to spread D2C practices. The platform has 99 percent delivery rates and better response than SMSs and emails. Employing WhatsApp for user acquisition and customer retention is preferable,” he said.
Emphasising market gaps to drive inbound traffic, more sales, and acquiring more customers through WhatsApp, Mohit suggested “Vernacular Support” to assist brands to reach regional areas for business support.
“Placing value for money and aspiration for a large category size, a brand can do well,” said Shantanu. “Understanding channel mix, simply coupling great products and marketing can give a good sense of delight. With extensive experience and adequate marketing efforts, consumers must be satisfied with products and services”, he added.
By simplifying a reflection of business, WakeFit.Co’s Chaitanya explained, “we have achieved big learnings from traditional to online mode of doing business where each phase is completely different.” “The mattress we provide is a very experiential product, so we provide a 100-day trial and will take the item back if the user doesn’t find it useful. On the other side, furniture is a completely different game, not experiential at all. So, we saw learning is vastly different in these categories/phases,” he said.
PeeSafe’s Vikas spoke about the difficulties in taking care of feminine or masculine hygiene, sexual wellness, and pleasure which is a hugely undercover, unorganised sector. “People don’t even talk,” he said, encouraging all to talk about sexual wellness and hygiene. He prioritised discussing bold subjects while maintaining a decency line, spreading awareness via informative posts and social media channels.
The growth enablers
Mohit explained how each brand has its specific target audience, geographics, and working strategies. What works for jewellery brands might not work for tea/coffee brands, he said, understanding distinct domains are decisive. “After the COVID outbreak, people started adopting online transactions, and we saw 30 percent more sales via our WhatsApp’s payment system”, he said.
Taking the discussion ahead, Shantanu explained, “Despite an evident evolution so far, people don’t talk about male grooming as a chalk-talk for female grooming and wellness things. Men are harder to engage and easier to please and vice versa for females, so we are learning from customers and the journey is quite interesting.”
Talking about the changing purchasing behaviour of women consumers, Vikas said, “We provide discrete products, and under a brand name, we should keep ourselves at the right place where it matters the most. The more you talk about a product, the more people come out to buy,” recalling how they entered houses with the trust that the Pee Safe can reduce UTIs and their growth to date.
“No matter how technologically we are, purchasing will be conducted offline as well, especially for furniture,” said Chaitanya as he affirmed to continue doing business in the online mode in an agile and nimble environment, where training is convenient and customer experience is better. Recently, WakeFit.Co has gained a total revenue of Rs 700 crore from which 20 percent is of furniture sales.
Factors impacting D2C ecosystem growth
Talking about the essence of vernacular approaches to scale India’s regional segments, Mohit said, “D2C companies must validate logistics and warehousing to be automated alongside WhatsApp and its more streamlined funnel.”
In response to the discussion, Shantanu added, “More capital, good founders, and massive consumption are good things to happen. India embraces several opportunities to build sustainable businesses. Also, IPOs must be rational and consumers should be reasonable as per their expectations.”
Vikas proposed to focus on building consumers’ trust with many new entrants in the market. “Brands should be innovative, transparent, and swift as well as they must account for positive and negative feedbacks forefront to become reliable constructively,” he said.
WakeFit’s founder Chaitanya explained that D2C brands are easier to launch in different marketplaces, be it offline or online branding, or organic searches. He said, “It is easier to cut corners to raise margin sides crucially to maintain the credibility of D2C ecosystems.” However, Chaitanya expressed concerns as many brands are getting launched and no regulatory bodies are in place to inspect from both brands’ and consumers’ sides.
You can watch videos from all the sessions of Brands of New India Mega Summit here. Don’t forget to tag #BrandsOfNewIndia when you share your experience, learnings, and favourite moments from the event on social media.
For information on future events, collaborations, and information regarding the D2C ecosystem, please visit our website.


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Its official – Every new Volvo car now will come with a limited top speed of 180 km/h, as Volvo Cars delivers on its promise made last year to introduce such a limitation to help minimise serious injuries and fatalities in traffic.
This also includes Malaysia, as Volvo Car Malaysia confirmed it during the launch of the S60 T8 CKD recently, that this will be the case with upcoming models.
Besides the speed cut, every Volvo car will now also come with a Care Key, which allows Volvo drivers to set additional limitations on the car’s top speed, for example before lending their car to other family members or to younger and inexperienced drivers.
The top speed limit has proven to be controversial since it was announced, with some observers questioning the rights of car makers to impose such limitations through available technology.
Yet the folks at Volvo Cars believe that they have an obligation to continue their tradition of being pioneers in taking action that can ultimately save lives, even if this means losing potential customers. Wow.
Research shows that on average, people have poor understanding of the dangers around speeding. As a result, many people often drive too fast and have poor speed adaption in relation to the traffic situation.
Yes, we understand that this is for the greater good, but still…
Well, this news sure is going to take some time to digest.

domain: news


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New Volvo eye-monitoring sensors could bring us one step closer to autonomous driving.
Read This Article
Earlier this week, we reported that Volvo had teased the next V40 on Facebook ahead of its Geneva Auto Show unveil.
The XC90, Volvo's flagship crossover SUV will receive some minor tweaks both inside and out for the 2012 model year.
These days Americans are doing less of a lot of things; with high unemployment we're working less, we're going to fewer sporting events, and as what should come as little surprise to anyone, we're driving less.


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A daily cup of coffee may reduce the oxidative damage to DNA by 12 percent, according to a pan-European study.
Researchers from the University of Vienna, Nestlé, and the University of Belgrade report that paper-filtered coffee – the most widely consumed form in Central Europe and the US – may protect against oxidative DNA-damage.
No changes in overall antioxidants status of the 38 participants were observed, according to findings published in Mutation Research/Fundamental and Molecular Mechanisms of Mutagenesis.
“It is conceivable that indirect effects such as reduced uptake of glucose via the gastrointestinal tract, which was seen with specific types of coffee and with chlorogenic acids may play a role as it is known that alterations of the energy metabolism may lead to reduced reactive oxygen species formation in the mitochondria,” wrote the researchers.
The study was funded by the Institute of Scientific Information on Coffee (ISIC) – a scientific consortium of European coffee companies.
A recent review by Mario Ferruzzi from Purdue University noted that coffee is one of the richest sources of polyphenols in the Western diet, with one cup of the stuff providing 350 milligrams of phenolics. Of these, the most abundant compounds coffee are chlorogenic acids, making up to 12 per cent of the green coffee bean. The most abundant of these compounds is caffeic acid (Physiology & Behavior, 2010, Vol. 100, pp. 33-41).
“A better understanding of how the beverage composition impacts phenolic profiles and their bioavailability is critical to development of beverage products designed to deliver specific health benefits,” he added.
The beverage, and its constituent ingredients, has come under increasing study with research linking it to reduced risk of diabetes, and improved liver health.
Coffee, one of the world's largest traded commodities produced in more than 60 countries and generating more than $70bn in retail sales a year, continues to spawn research and interest, and has been linked to reduced risks of certain diseases, especially of the liver and diabetes.


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Connect with the top gaming leaders in Los Angeles at GamesBeat Summit 2023 from May 22-23. Register here.
Game publisher Kwalee has announced that it has reached a new milestone: 1 billion installs on its games. The British studio, which specializes in hypercasual games, says people have downloaded its titles on every continent. In 2022 alone, the games were installed more than 200 million times.
Kwalee’s titles include games such as Draw It, Jetpack Jump, and Bake It. In total, the company has published more than 45 games. Most of those games are mobile hypercasual titles, but the company has also released PC and console titles such as Die by the Blade and Scathe. It currently has offices in India, China and Portugal.
The company attributes this success to its pitching and profit-sharing system, as well as its relationships with third-party developers. Kwalee’s success is remarkable given that mobile gaming showed signs of slowing momentum in 2022. According to a recent Data.ai report, the industry saw a drop in spending over the year.
David Darling, CEO of Kwalee, said in a statement: “As the founder of Kwalee and someone with a long history in the games industry, it is incredibly rewarding to see us reach this level of success. I’ve always been passionate about making games that bring joy and entertainment to people, and the fact that we’ve reached one billion installs is a clear indication that we’ve reached that goal…. I’m incredibly proud of our team and their work in getting us to this point, and excited to still be able to play Kwalee games once we hit 2 billion installs.”
GamesBeat’s credo in covering the gaming industry is “where passion meets business”. What does this mean? We want to tell you how important the news is to you — not only as a decision maker in a game studio, but also as a fan of games. Whether you’re reading our articles, listening to our podcasts, or watching our videos, GamesBeat helps you learn about and have fun with the industry. Discover our Briefings.
Janice has been with businesskinda for 5 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider businesskinda team, Janice seeks to understand an audience before creating memorable, persuasive copy.


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If you've felt like rideshare trips have gotten increasingly expensive this year, you're not alone—and you're not wrong.
The average Uber and Lyft fare rose consistently through the spring and early summer across the country, with consumers paying nearly 50% more per ride in July than they did before the COVID-19 pandemic, according to The Wall Street Journal.
Much of the pressure on the rideshare market is due to the same set of conditions that drove up the cost of airline tickets and rental vehicles for travelers this summer: a sharp decrease in demand last year followed by a sharp rise in demand this spring.
When the pandemic first shut down the country last year, demand for ridesharing collapsed. In a similar vein, as work opportunities dried up, rideshare drivers who did not want to risk contracting the virus turned to other opportunities or claimed unemployment benefits.
But the economic conditions changed rapidly this spring and summer as Austinites received COVID-19 vaccinations and the country's economy reopened. As more people in Austin and around the country began to look for rides, there were fewer drivers to provide them.
One Austin rideshare driver says there are other factors at play.
Mo, a 52-year-old immigrant from India who came to the U.S. more than two decades ago, drove 80 hours per week for Uber and Lyft for years—refusing to take even holidays off. But lately, he has cut back.
"Driving for Uber and Lyft is a nightmare," Mo said. "It comes with a lot of risks, and really the pay is just enough to keep up with even the operational expenses, let alone breaking even or even taking something home."
Mo, who asked his name not be used for privacy reasons, said drivers' earning power with Uber and Lyft has not increased at all, let alone commensurately.
That, along with quality control and safety concerns, convinced Mo to help organize a strike of Austin rideshare drivers in late June. Austin was one of a number of cities around the country to see strikes that day, with the largest action taking place in California, where Proposition 22, classifying drivers as independent contractors rather than employees, passed last year.
"They will have to increase the mileage rates," Mo said. "It is impossible to survive… You cannot give such bad mileage rates to drivers. That's the minimum thing they will have to do."
But a Lyft spokesperson wrote in a message to Austonia that certain drivers are earning more money driving than they were prior to the onset of the pandemic and that drivers are steadily returning to work.
"As vaccines rolled out and people started moving again, we began to see the demand for rides outpace the number of available drivers," Lyft spokesperson Eric Smith said. "We've added thousands of drivers in the past few weeks and it's already leading to a better rider experience with wait times down more than 15% nationwide, and down 35% in some major markets."
Uber did not respond to a request for comment.
Mo said that the demand in Austin for rides fluctuates greatly throughout the week, spiking on weekend evenings and slowing during weekdays. Demand is routinely highest during marquee events like Austin City Limits and South By Southwest.
"It continues to be a great time to drive," Smith wrote.
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East Austin restaurant la Barbecue has been robbed a third time in less than three months, according to a post on the restaurant's Instagram.
In the post, the restaurant included photos of what appeared to be a man exiting a minivan from surveillance footage.
"This guy pulled up in a car full of stuff… he ripped our gate open and stole a couple empty kegs," the post said. "The ring system scared him off so he did not venture back into the area. PLEASE EVERYONE ON THE EAST SIDE BE CAREFUL!!! This guy goes back into his car to grab something before he goes in. I am hoping he won’t be back!!"
The robbery comes as many restaurant and food truck owners have been on guard from recent break-ins. East Austin cheesesteak truck R&B's Steak and Fries has also been robbed three times in around three months, according to owner Kris Elliott. Elliot said the truck was last robbed around a month and a half ago.
"When the weather gets cold, it seems like these things start to happen more often," Elliott said. "We're just happy no one got hurt."
Additionally, he said all 5 of the food trucks in their lot have experienced burglaries. The landlord of the space is taking action by investing in alarm and camera systems. "Been very tough dealing with this problem as us small business owners are just trying to survive during the pandemic," Elliott said.
And it's not just in East Austin. North Austin restaurants Eldorado Cafe and Chez Zee Bistro were both broken into and robbed on the weekend of Jan. 8, while over a dozen food truck robberies and break-ins were reported in the latter half of 2021.
Some, like Chez Zee's Deborah Velasco, wonder if the understaffed Austin Police Department's decision to no longer respond to non-emergency calls is part of the problem. Xose Velasco, owner of East Austin's Discada, said owners are keeping their guard up in the wake of the robberies as he was robbed twice within a month of reopening in November 2021.
"We try to keep the lights on," Velasco said. "We're a little bit more careful."
After 12 months, the long-anticipated massive Tesla factory in Southeast Travis County is up and operating and everyone wants a look inside.
Phase 1 of Giga Texas appears to be tied up as production of the Model Y Tesla is underway, the electric car company revealed on Wednesday in its fourth-quarter earnings call. The factory, located on the former Harold Green-turned Tesla Road, sits on more than 2,000 acres of land in southeast Travis County.
Here's a glimpse inside the factory.
Model Ys will be the first Teslas to come out of Giga Texas with an estimated delivery of August. The wait estimate comes after Tesla noted supply chain issues have affected their factories, which have been running below capacity for several quarters. A deep blue metallic like this goes for $1,000 more than a white or silver Model Y, totaling $61,990.
Model Ys began being produced at Giga Texas at the end of 2020. In general assembly at the factory, the Teslas get their major interior components to finish the vehicle.
Workers at Austin's Gigafactory are attaching seats to a structural battery pack. It's been described by some as the biggest difference between Texas-made Model Y's and the current version at the Fremont, California factory. It shouldn't have a major impact on the owner's experience, but Tesla has updated instructions for the jacking procedure, as the lift points are different.
With a sleek, open office setup, workers can take in a view of the factory from their seats. It's a component CEO Elon Musk wanted for what is now the headquarters of Tesla.
On the Austin, Texas public location Snapchat, a photo of inside Giga Texas has appeared. On the left you can see a sneak peek of a Model Y body.pic.twitter.com/N7zliZ5vkL— Sawyer Merritt (@Sawyer Merritt) 1643081462
With Snapchat's maps, anyone can look at everyday activity happening at the factory. To view these geographically-linked stories, click the bottom left "map" icon and search "Tesla Giga Texas." Once you've found it, you can view the Snapchat story of those in and around the facility. While most stories stay up for only 24 hours, Giga Texas is a designated place on Snapchat, allowing users to view a collection of photos and videos from the inside.
Following Model Ys, Texas-made Teslas will include the Cybertruck, Semi and Model 3. But it might be a while before those other models arrive. EV makers have been hit hard by the chip shortage, and it's thought that changing features are contributing to Cybertruck delays as Tesla works to compete in the electric pickup market.
Joe Rogan paid a visit to buddy Elon Musk this week. The two have been seen around town since both moving to Texas. Naturally, Rogan was impressed with the prototype.
If you're dying to get a closer look at this factory, you just might get to. In December, Musk said the factory would have tours available to the community early this year.
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To say the least, Wednesday was not the best day for a stock to be hit by a price target drop. But that was the situation with the best sportswear manufacturer Nike (NYSE: NKE)whose shares closed down 5.6% – a steeper drop than even the terrible 4% suffered by the Baron S&P500 stock index
Bank of America (NYSE: BAC) Securities analyst Lorraine Hutchinson was the person wielding the blade. On Wednesday morning, she adjusted her position in Nike shares with a price target of $125 per share from $140 previously. However, this does not change Hutchinson’s recommendation on equities, which remains neutral.
The reasons behind the Bank of America The tipster’s move was not immediately apparent.
Additionally, Nike investors may be concerned about a report published Tuesday in the FinancialTimes. Citing an internal company email and “people familiar with the matter,” the article says Nike’s head of talent, diversity and culture, Felicia Mayo, is stepping down from her role, effective from the end of July.
She would be the second leader to leave the post in as many years, the London-based newspaper reported. While Nike isn’t known as a company with high executive turnover, some might worry that Mayo’s apparent resignation indicates some level of dissent or dissatisfaction within the C-suite.
While not particularly positive, none of these elements are negative enough to warrant a nearly 6% sale of Nike.
However, we need to look at this in context. Wednesday was a very discouraging day for investors, particularly due to the disappointing quarterly results posted by retail titan Target, until recently a very high-flying stock. By ripple effect, stocks in retail and consumer discretionary sectors have also been liquidated, sometimes considerably. If anything, then Nike fell victim to bad timing that day.
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They have just revealed what they believe to be the ten best stocks for investors to buy now…and Nike wasn’t one of them! That’s right – they think these 10 stocks are even better buys.
* Equity Advisor Returns as of April 27, 2022
Bank of America is an advertising partner of The Ascent, a Motley Fool company. Eric Volkman has no position in the stocks mentioned. The Motley Fool holds positions and endorses Nike. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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Participating companies will receive complimentary and customized export training and mentoring to tap into new international markets.
Program is bolstered by $150,000 cash prize as Greater Seattle Partners wins Stage Two of the U.S. Small Business Administration (SBA) 2023 Growth Accelerator Fund Competition.
Seattle, Wash. (September 20, 2023) – Greater Seattle Partners (GSP) today announced the participating companies for the 2023 Greater Seattle Export Accelerator (GSEA) program. 20 innovative companies in Snohomish, King and Pierce County will receive advanced export training, export advising services, and access to international trade opportunities from local, state, and federal international trade and export service providers.
GSP’s award-winning Export Accelerator program will advance equitable investment in STEM/R&D-focused small businesses by identifying market opportunities, assessing finance capabilities, selecting target foreign markets, and addressing supply chain needs. An in-person launch and orientation for Cohort 1 will be held at the Port of Seattle on September 25th.
“GSEA was designed to engage with the broader community to promote diversity, equity, and inclusion in the international trade ecosystem. Our goal is to create opportunities that are accessible and inclusive to entrepreneurs from diverse backgrounds, communities and industries who can benefit from exporting. We are absolutely thrilled by an outstanding lineup of innovative companies in this inaugural class, and we look forward to supporting the growth and scale of these small businesses,” said Brian Surratt, chief executive officer of GSP.
“Expanding access to international markets is a fantastic way to help our local businesses grow. I’m excited to see this first cohort work with GSEA and look abroad for new market opportunities for their goods and services. I’m also excited to see our region work together to get behind these companies and future GSEA cohorts and give them the support they need to thrive. Congratulations to the selected participants!” said Markham McIntyre, Director, Seattle Office of Economic Development.”
“GSEA has made great strides in establishing this first cohort of companies, and by winning both stages of the SBA’s 2023 Growth Accelerator Fund Competition. It is great to see our local companies in aerospace and food production participating in the program, and I strongly encourage our small businesses and entrepreneurs to look at future opportunities to take advantage of this regional network of international trade resources to grow their exports,” said Tacoma Mayor Victoria Woodards.
“As someone with experience in exporting, I know the challenges a small business can face with reaching new global markets. I am thrilled to see the depth and diversity of companies participating in this first cohort, and we look forward to providing them with additional resources and connections to remove barriers and advance more equitable international trade,” said Sam Cho, Commissioner, Port of Seattle.
“Engaging in regional initiatives such as GSEA enables small businesses in Snohomish County to tap into a robust network of export advisors spanning both public and private sectors, facilitating their entry into international markets. I look forward to seeing our local companies successfully complete the inaugural cohort, and I encourage them to share their insights with fellow local businesses that stand to gain from this tailored export support,” said Dave Somers, Snohomish County Executive.
Other strategic partners include the U.S. Small Business Administration (SBA), U.S. Export Assistance Center Seattle, Washington State Department of Commerce, Washington Small Business Development Center (SBDC), and other regional public and private partners.
Finalists were selected through a multi-tier review panel process with experts in international trade, port and terminal management, economic development, business, innovation, and strategic planning both inside and out of city, county and state government. Selected companies had to demonstrate their expertise and unique offerings for exporters.
Companies are representative of industry sectors across aerospace, agritech, biotech, cleantech, food processing and manufacturing. Meet the 20 selected participants:
- Bite Me, Inc.: https://bitemeinc.cc
- Black Coffee Northwest: http://www.blackcoffeenw.com
- Buttonsmith, Inc.: https://www.buttonsmith.com
- FIAlab Instruments: https://www.flowinjection.com
- Jacobs Agro: https://jacobsagro.com
- KLIK: https://www.klikboks.com
- LiloTree: https://www.lilotree.com
- Morning Glory Chai: https://www.morningglorychai.com
- OCOchem: https://ocochem.com
- O’dlee Collective: https://odleecollective.com
- Pacific Sentry LLC: https://pacificsentry.com
- Planted Materials: https://www.plantedmaterials.com
- Rooted Leaf Agritech: https://www.rootedleaf.com
- Shoukang Herbal Medicine: https://shoukanghealth.com
- Singletto: https://www.singletto.com
- Tolt Technologies LLC: https://tolttechnologies.com
- VH Technologies Ltd: https://www.diashinepolish.com
- Vose Technical Systems: http://www.vtsc.net
- VTeamLabs: https://vteamlabs.com
- Whooshh Innovations: https://www.whooshh.com
Tapping into the global marketplace represents a significant opportunity for these participating companies. In 2022, total exports from Greater Seattle (Snohomish, King and Pierce County) surpassed $43B, an increase of 13.7% over the following year. Each of our region’s top 10 export markets exceeded $1B in 2022, with China topping the list at more than $10B. In order of total value, Greater Seattle’s top 10 export markets in 2022 were China, Japan, Ireland, Canada, Malaysia, Taiwan, Korea, United Kingdom, United Arab Emirates, and Singapore. The region exported to a total of 192 countries in 2022, with 79 countries representing at least $5M worth of goods.
Growth Accelerator Prize Competition
This week the SBA announced GSP as a Stage Two winner for the 2023 Growth Accelerator Fund Competition. GSP will receive a $150,000 cash prize to build strategic partnerships that will support the launch, growth, and scale of STEM/R&D-focused small businesses.
This year’s Competition has brought together organizations, entities, groups, and individuals beyond geographic boundaries to support innovators and innovation needed to confront the challenges of today. After winning a $50,000 Stage One cash prize earlier this year, GSP continues its efforts to foster and facilitate a thriving national ecosystem that advances equitable investment in innovative high-growth small businesses.
For more information about the Growth Accelerator Fund Competition, please visit www.sbir.gov/accelerators
GSEA is a direct result of GSP’s award-winning model for the SBA’s 2023 Growth Accelerator Fund Competition. Participants receive instruction through six export modules that include assessing finance capabilities, selecting target foreign markets, and addressing supply chain needs. For more information visit https://greater-seattle.com/exportaccelerator.
ABOUT GREATER SEATTLE PARTNERS
Greater Seattle Partners (GSP) is a public-private partnership that leads regional economic development through global business attraction, site selection and investment and trade opportunities in the greater Seattle region. GSP collaborates with community and economic development partners to ensure that every person in the Puget Sound region has the opportunity to prosper. We strive to attract and retain quality family/living wage jobs across all communities of the region. Throughout the world we tell the story of our talent, pioneering spirit, unique communities, and quality of life. For more information visit Greater-Seattle.com.


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For a lot of men, just saying “skincare” probably feels a little effeminate. And while you probably don’t give much thought to wrinkles or skin spots—at least not yet—you should worry about cancer.
“Every year we see skin cancer appearing more in younger individuals,” says Adam Friedman, MD, director of dermatologic research at Montefiore-Albert Einstein College of Medicine.
A recent study in JAMA Dermatology found young men—defined as dudes between 15 and 39—are more likely than young women to die if they develop melanoma. In fact, the study’s authors say the difference in mortality rates between young guys and girls is so drastic that inherent biological difference might play a role. Translation: Your man DNA may make you especially easy prey for life-taking skin cancers.
Here, Friedman explains the mistakes guys tend to make when it comes to protecting their hides:
WHEN YOU SPREAD ON SUNSCREEN, YOU APPLY TOO LITTLE
Most men just don’t use enough of the stuff to protect their skin, Friedman says. And when you skimp, you’re halving or even quartering the sun protection factor (SPF) listed on the bottle’s label. “You really should be slopping it on to get the full SPF benefit,” Friedman says. He also says you should use a product containing an SPF of 30 or higher.
YOU USE SPRAY-ON SUNSCREEN PRODUCTS
First of all, there are known health risks associated with inhaling the mist created by these sprays. Friedman says it’s also extremely difficult to get enough sunscreen applied evenly to your skin with these products. “If you’re spraying from a foot away, which is what I see most men doing, you’re wasting most of the product and losing a lot of the SPF,” he says. At most, you should hold the nozzle an inch away from your body while applying. “You should see a white film on your skin, and then you have to rub that in,” he says, before adding that sunscreen sticks also suck. Just go with a lotion.
YOU WAIT UNTIL YOU GET TO BEACH OR POOL TO SLATHER IT ON
Sunscreen requires time to soak into your skin and form a protective barrier against UV damage. If you apply it out in the sun, your sunscreen never has the opportunity to set up shop, Friedman says. You need to put the stuff on 20 minutes before you step outside, he says.
YOU THINK CLOUDY DAYS SAVE YOUR SKIN FROM THE SUN
While you may not get a tan or a burn, UVA rays are able to penetrate clouds. And more and more research suggests these rays might be as culpable as UVB rays when it comes to the formation of skin cancers, Friedman says. That’s why he (and every other derm you’ll ever meet) recommends wearing sunscreen all year round—on sunny or cloudy days—whenever you’re exposed to sunlight.
YOU SKIP YOUR LIPS
You probably don’t take time to rub sunscreen or protective lip balm onto your mouth. But the skin on your lips is delicate and prone to sun damage, Friedman says. Your lips are also a hot spot for skin cancers. Your eyes and the tops of your ears and head are also cancer danger-zones many men neglect, he adds.
YOU THINK BURNING IS PART OF TANNING
First of all, any tanning is technically skin damage, and isn’t good for you, Friedman says. But burns are much worse. “One blistering sunburn doubles your lifetime risk for melanoma,” Friedman says. If you think it’s okay to burn a bit at the start of summer as you build up your tan, you’re deluding yourself.
YOU THINK SUNSCREEN CHEMICALS ARE MORE DANGEROUS THAN SUN DAMAGE
There are a handful of reports that suggest sunscreen chemicals could be risky. But Friedman says those reports are bullshit. “These studies are based on using just insane amounts of these chemicals, or on animals ingesting these chemicals,” he says. “There’s really no data showing that, used the way people use them, these chemicals are dangerous.” Compared to the very real risks of sun exposure and damage, you’d be nuts to avoid sunscreen.


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Scanners Blu-ray in April
SCANNERS, one of the most iconic horror films of the eighties from legendary director David Cronenberg (Cosmopolis, A History of Violence, The Fly), comes to Blu-ray for the first time in a highly collectable limited edition steelbook thanks to Second Sight Films.
This cult classic horror comes to Blu-ray as a limited edition steelbook along with a DVD release on 8 April 2013 complete with a slew of brilliant new special features including:
• MY ART KEEPS ME SANE – Interview with star Stephen Lack
• THE EYE OF SCANNERS – Interview with cinematographer Mark Irwin
• THE CHAOS OF SCANNERS – Interview with executive producer Pierre David
• EXPLOPING BRAINS & POPPING VEINS – Interview with makeup effects artist Stephen Dupuis
• BAD GUY DANE – Interview with actor Lawrence Dane
Scanners II: The New Order and Scanners III: The Takeover will also be released for the first time on Blu-ray only as single releases on 8 April 2013.
UPDATE: Despite initial reports that each of these releases would be region-free, Second Sight have confirmed via their Facebook page that this will not be the case...
"SCANNERS REGION CODE UPDATE. We regret to announce that the release of the three Scanners films will now be Region B and not Region Free. We sincerely apologise for this but unfortunately a contractual issue has arisen at the 11th hour which means we are no longer in a position to proceed with a Region Free release as originally intended. We are very sorry indeed for the inconvenience as we know people will have ordered already on this basis and may now need to cancel but unfortunately the coding is something we must now adhere to with this release, as on the majority of releases. Once again apologies, we're extremely disappointed to have to write this post."


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Beam Inc. sells brands to Luxco -- "power brands" untouched
- Staff Chicago Business Journal
According to Beam’s (NYSE: BEAM) release, the six properties are Wolfschmidt vodka, Calvert, Bellows, Dark Eyes vodka, Canada House Canadian, and Tempo Triple Sec. Together, those brands accounted for about $30 million in revenue, Beam said, and the company will continue to produce them until at least January 2014.
The St. Louis Post-Dispatch reported that this is the largest acquisition for Luxco, maker of Everclear, since its founding in 1958. The Post-Dispatch also noted that Beam’s “power brands”, none of which were sold to Luxco, account for about 60 percent of the company’s revenue.
In November, Beam's reported third-quarter sales of $778.3 million and profit of $76.5 million, or 48 cents a share.
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Nintendo’s upcoming Labo VR kit is getting support for Super Mario Odyssey and The Legend of Zelda: Breath of the Wild. Super Mario Odyssey is getting a new VR only bonus experience and the entire Breath of the Wild game will be playable in VR. Labo VR releases on April 12th for $39.99 for the starter set. Updates for these two games will come April 25th.
More info and a trailer are at https://labo.nintendo.com/kits/vr-kit/


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“Objects of Desire,” a new exhibit by Nike, opened today in New York at the brand’s 45 Grand Street studio space.
The multimedia exhibit is a “20-year exploration of apparel design and innovation through creative collaboration,” according to nike.com. Curated by Out of Order Magazine and Dorian Grinspan, the magazine’s creative director, Nike both examines and celebrates two decades’ worth of collaborations that have propelled the brand to its iconic status.
Nike’s apparel campaigns over the years serve as the key subject of examination. Grinspan curated garments, photographs and video to paint a story of resilience, determination and strength. These selected works culminate into the newest campaign unveiled at the exhibit, “I, David.”
Featuring ballet dancer David Hallberg, the only American to be a principal dancer at both the Bolshoi Ballet of Moscow and the American Ballet Theatre in New York, “I, David” centers around perseverance. It speaks to Hallberg’s experience of having overcome a physical injury and offers a metaphorical take on that same experience by using the NikeLab ACG Poncho as a symbol of tenacity and moving forward despite adversity.
“I, David,” like Nike’s history of advertisements, seeks to marry the idea of athletics with creativity. The campaign combines the talents of both the athlete, Hallberg, and the visual creatives behind the idea, Niclas Gillis, director, and artist James Casebere, set designer.
“Objects of Desire” is on view from June 1 through June 10 from 11 a.m. to 6 p.m. It will be closed for two days during that time, on Monday, June 5, and Tuesday, June 6.
Click through the gallery to see what attendees wore to the opening day.


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Attorney General Pam Bondi shuts down Jacksonville bulldog puppy mill
Attorney General Pam Bondi has shut down a Jacksonville puppy mill that sold 700 dogs in five years and froze the company’s assets for the alleged illegal importation, breeding and sale of English bulldog puppies.
Brook Anthony Roque, Anthony Rene Roque, Glenda Chester Roque, Kassaundra Ann Buttram, and Michelle Lee Echols operated as Five Star Bulldogs, Grand Bulldogs, Matrix Bulldogs, Brook’s Bullies and Remarkabull and used several websites to solicit sales. The breeders allegedly sold for the puppies for $1,500 to $2,300 each, totaling more than $1 million in potential profits. Many of the puppies sold suffered from congenital defects, parasites, or other serious health or behavioral issues.
“Defendants lined their pockets while the consistently and sytemically placed profits over animal welfare” according to the temporary injunction obtained by Bondi. The breeders sold the puppies on several websites, claiming the dogs were hand-raised in a “loving and well socialized environment.” According to one of the breeders’ websites: “It is not about the money for us; the puppies will only be sold to families who are willing to give them the time and attention they deserve.”
Instead, the defendants bred dogs with ten other breeders and illegally imported five-week-old puppies from Colombia, South America. They operated without a breeder’s permit and failed to quarantine imported dogs as required by the Centers for Disease Control, according to court records.
The breeders advertised that their dogs came with a valid health certificate proving they were properly vaccinated, a health guarantee, a pedigree, and were certifiable with the American Kennel Club (AKC). However, investigators found that the breeders failed to provide consumers with the required health certificate entitled the Official Certificate of Veterinary Inspection that certifies the dogs were inspected by a licensed veterinarian and received the proper vaccinations or medical care. The breeders also forged and fabricated health certificates, according to court records.
Consumers later discovered their dogs suffered from congenital defects, parasites, or other serious health or behavioral issues. Additionally, consumers were denied AKC registration due to the defendants’ suspended AKC privileges, or they learned their dog’s AKC documents contained false information. For example, one AKC certificate outlining the dog’s pedigree and lineage had the puppy’s birthday listed as being born before the mother.
The lawsuit seeks an injunction, restitution to consumers, civil penalties, and attorney’s fees and costs. The temporary injunction prohibits the defendants from engaging in the solicitation, importation, breeding or sale of any dog. The asset freeze prohibits the defendants from concealing or squandering assets that could be used for consumer restitution.


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Data protection concerns continue
New research shows that NSA revelations, identity theft and hackings have left 7 out of 10 people concerned about their privacy in the UK.
A string of high profile data leaks and attacks involving large companies such as British Airways and the Sony Pictures have kept data protection in the forefront of the media.
This statistic comes from YouGov’s latest research, where the organisation interviewed over 2,000 British adults. Research also showed that 32% of respondents would also be willing to pay to protect their information, with 29% of individuals feeling that it was their own responsibility to protect their information.
The change in attitudes is thought to have come from more and more personal information being required to sign up for online services, with around 70% of those participating in the survey sharing their name, address and date of birth when signing up to a new service. This information is often considered part of the ‘secret’ information used to verify a person’s identity for a number of services.
Garreth Cameron from the information commissioner’s office commented:
“Consumers are becoming much more aware of the need to protect their personal data online and even though this survey shows they might be prepared to pay to do that, it is still ultimately the responsibility of the businesses who hold that data to make sure they follow the laws around data protection. Businesses should be doing everything they can to keep information safe by investing in consumer privacy online, both in terms of education, increased protection and good practice.”


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1. E-commerce and marketplaces
In 2014, nearly $15.5 billion was invested in e-commerce with online marketplaces making up the majority of that investment, accounting for nearly three quarters of the total investment and just under half the deals. Annual investment in marketplaces has increased steadily over the past four years for two broad reasons.
Firstly, the one-size-fits-all e-commerce model pioneered by Amazon and eBay has reached investor saturation. The new wave of marketplaces is for specialists, catering to specific niches or interests. The second driver is the sharing economy. First apparent in investment circles in 2013, investor appetite for the sharing economy has only intensified since then and will continue to be apparent this year.
2. Sharing economy
Not every marketplace is part of the sharing economy and similarly the sharing economy embraces far more than just marketplaces. Sharing economy and collaborative consumption are buzz terms, but represent more than just hype. It’s a phenomenon affecting various sectors whether it’s Uber saying it wants to make private car hire more affordable than owning a car or Spotify encouraging us to not buy albums, but just access music through its platform.
In investment circles, the sharing economy will continue to attract an enormous amount of cash as mature businesses in this space continue to try and scale. Uber alone accounted for three of the top-ten sharing economy investments in 2014. Expect more eye-catching investments here this year.
The way we pay for our goods, bank online, borrow money and transfer money is fundamentally changing. Technology is disrupting the way money moves around the planet and fintech as a sector is coming of age. Venture capital investment is higher than ever, the infrastructure and hardware is becoming more prevalent and adoption levels, both among companies and consumers, are finally gaining traction.
Last year was something of a watershed for fintech investment with $100-million-plus deals put into the likes of Credit Karma, Square, Stripe and Renrendai. Looking at where fintech will reveal funding this year, there’s still plenty of investor appetite for startups addressing payments, lending services, money transfers and crypto currencies. With fintech-focused funds and accelerators continuing to emerge and mature, expect to see plenty more activity in 2015.
4. Internet of things
Consumer adoption of the internet of things or IoT is likely to take off in 2015 as more and more manufacturers bring smart appliances and devices to market that will become part of the fabric of people’s lives. With governments getting behind smart city programmes that involve energy efficiency, there is also likely to be support from the establishment. Although much IoT activity in 2015 will come from major players, they’ll be a drip-down effect in the startup ecosystem.
After all, this area is incredibly ripe for innovation. More than half the deals tracked last year were under $10 million and it’s likely that this year will see many of these companies raising larger follow-up finance rounds. As with wearable tech, many early-stage IoT companies are crowdfunded, and expect them to look to venture capitalists as the market matures and the demand for greater sums of capital increases.
5. Wearable technology
It’s essentially a subset of IoT, but wearable technology made a big impact in tech consciousness last year with both consumer awareness and adoption increasing in tandem. However, without the $542 million put into Magic Leap last October, investment levels would not have matched the hype. But in 2015 expect venture capital levels in wearable tech to remain high for two main reasons. Apple’s entry into the space with its smartwatch should act as a catalyst for the space in terms of investor interest.
In addition, a lot of device-centric startups have taken on cash via crowdfunding to date. For their next generation of devices, these startups will look to venture capitalists for financing. Crowdfunding will still play a big role, but as the market matures except more venture capital activity.


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In the second issue of the Weekly Deals Digest, we cover the deals in Africa for the week and also look at other emerging markets like South America and South Asia. We have also included a snapshot of the top global deals in this period.
Kenya’s HR and Payroll Startup WorkPay raised $2.1 million seed funding with an aim to accelerate their growth across Africa. The company, which joined the prestigious Y Combinator in March this year, is a cloud-based human resources management and payroll solution for small and medium-sized businesses. They currently process payrolls for more than 25,000 employees in Kenya.
Another Kenyan startup, MarketForce360 became the latest admission to Y Combinator and in the process raising $150,000 in funding. MarketForce360 seeks to help consumer brands optimize their delivery of goods and services to customers and retailers. This is their second fund raise this year, having raised an earlier $350,000 in May led by Viktoria Business Angels Network, P1 Ventures, EchoVC Partners, and Ventures Platform.
Kilimo Fresh, Tanzania’s online platform offering multi-category grocery products rounds up our East African deals this week with a $50,000 seed raise.
A few other deals that caught the eye this week were:
SpaceX raises $1.9 billion in the latest and biggest round of funding for the company yet, per SEC filings. This brings the company’s valuation to $46 billion after the raise. This latest round of funding comes on the backdrop of some major progress but SpaceX in space travel and satellite internet provision that the company has been doing test on.
Robinhood, the zero commissions trading app for stocks, cryptocurrencies and other assets also raised $200M bringing its valuation to $11 billion.
Download the full Weekly Deals Digest Issue here to read all the deals tracked.


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We previously heard some specifications on the new Samsung Galaxy A70 and Galaxy A60 smartphones and now both handsets have been spotted on TENAA.
TENAA is China’s equivalent of the FCC so this suggests that these handset could be getting close to launch.
We previously heard that the Samsung Galaxy A70 would come with a 6.7 inch display with a Full HD+ resolution and it will also come with a Qualcomm Snapdragon processor and 8GB of RAM. The device will also come with a 4400 mAh battery.
The Galaxy A60 is rumored to feature a 6.7 inch Super AMOLED display that will feature a Full HD+ resolution and it will come with a Qualcomm Snapdragon 6150 processor. As soon as we get some details on the ;launch dates for these two handsets, we will let you guys know.
Latest Geeky Gadgets Deals
Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.


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Asics moves past 'blood, sweat and tears' marketing to rediscover founder mindfulness
Almost a year after the biggest brand and marketing shake-up in its history, footwear firm Asics has evolved to engage consumers on digital platforms on a weekly basis to integrate with consumers fitness pursuits and their mindfulness routines. This echoes the founding principles of the company in post-war Japan.
AsicsTiger's What The Gel campaign
Speaking to The Drum, Björn Hamacher, director of marketing EMEA, reflected on how the brand had to grow up, go digital, and took a leaf out of its founder's book in finding a voice that can cut through a competitive market.
Hamacher spent 12 years working at Coca-Cola but made the jump to Asics two years ago. Once established, the self-confessed 'sneaker freak' centralised the company's skill sets in its Amsterdam office as part of a 10 month reshuffle. Its marketers adopted a "dedicated digital twist" hailing from a new integrated marketing comms department.
With the new emphasis, the group was tasked with ensuring Asics engages consumers all year round, a move away from the previous peaks and troughs around product launches. "It is important that we started our creation engine and are out there talking to our consumer with relevant messages all 52 weeks of the year." For him, worst case scenario is putting out only 40 weeks of content.
Performance brand Asics and lifestyle brand AsicsTiger each run their own unique campaigns (I Move Me and What The Gel respectively), these stories will be told with help from a dedicated social media and PR team.
Aside from this, influencers are kept at hand to drive community and engagement in running communities, like those using its Runkeeper app or those training for its marathons in Paris, Barcelona, Stockholm and Frankfurt. Hamacher said: "This is what will make the difference, with this department we are being more agile and creative, we are pushing a lot more stories out there, ideally in a highly relevant way. It is important to do this in a different way to competitors."
He noted that consumer research tags Asics as more relatable and human than its competitors so it embraced that to mobilise new runners.
One of the spaces Asics will be hitting in its marketing comms is running as a salve to the worries of everyday life. Hamacher underlined this: "Running is good opportunity to just put on a pair of sneakers, preferably Asics, get out there for half an hour to just free up the mind. It will get your body and mind in balance."
This reemphasis syncronises with the 100th birthday of Asics founder Kihachiro Onitsuka. He raised the sports brand from the ruins of post-WWII Japan, experimenting with new rubber compounds to deliver the cutting-edge running and athletics technology. "This mindfulness is something that we lost after 20 years, but we are refocusing by putting the founders's principles at the heart of our communications."
So while the public is arguably becoming more aware of mental health issues, according to Asics, more people are taking up running each year. To best ride this wave it is important for Asics to "be the most credible brand in running... we have to put our stake in the ground and have the best possible products."
It is no longer exclusively chasing the best runners. "We don’t care if they are running a 5k, 10k or a marathon, we just want to get people moving."
This is a change or tone from Asics, even a prompt U-turn in messaging.
"We realised that we tried to enter a space where we tried to a brand that we are not. We are not blood, sweat and tears, we need to be true to ourselves, we realised that we have something else to offer, being relatable."
According to consumer research, two of Asic's most notable brand traits are trust and credibility - it is now in a position to harness these sentiments - but it may not be alone in the mental wellness space for long. Hamacher is not worried. "I wouldn’t be surprised if [rivals] did get involved but if we do our job well enough and focus on the space I am not too concerned. We will offer something to the consumers that will hopefully not have them look left and right."
The group is still finding its feet in the digital space. Not long ago the major share of its ad buy went into traditional media, but in less than a year, that entire model has been flipped, led by Starcom. Hamacher said: "We are trying to talk to a younger audience where they spend their time. We won’t reach a peak of comms when we drop a shoe in March and September for three weeks and then go back into radio silence."
On the content front, the brand is envisioning all of its own creative stories around athletes with inspirational stories. It is then taking these ideas to a Rotterdam-based production company. This is all part of its 'hybrid strategy' of working with challenger agencies.
"We are looking for agile and nimble agencies that can deliver in this fast content driven world," Hamacher concluded.


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RYE BROOK, N.Y. (CBSNewYork) – Two brothers from Westchester are flush with entrepreneurial spirit.
Bryan and Jordan Silverman of Rye Brook started Star Toilet Paper two years ago. The toilet tissue is printed with advertisements and coupon codes that can be read by the user’s smartphone.
The brothers told the Journal-News that they expect their line of toilet paper will appear at the Port Chester-Rye Brook Public Library this fall.
Bryan Silverman said their product will succeed because it reaches a captive audience.
The brothers have entered their ad-laden toilet paper in a contest run by Entrepreneur magazine.
What do you think of toilet paper with ads printed on it? Would you take advantage of coupons printed on toilet paper? Share your comments below…


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According to the latest survey by the Bank of International Settlements (BIS), nine out of 10 central banks globally are working with the idea of launching a central bank digital currency (CBDC). World. The survey, which involved 81 central banks, reveals that 50 percent of central banks interested in launching retail CBDCs are currently already developing such products or are at some stage in the process of experimentation.
A paper released The BIS Monetary and Economic Department said that of the 81 central banks surveyed from October to December 2021, 90 per cent were “engaged in some form of CBDC,” 26 per cent running pilots on CBDCs and over 60 per cent experimenting. or proof. A concept related to digital currency.
According to the BIS, the increase in interest around CBDCs – from around 83 per cent in 2020 – could be driven by the shift to digital solutions amid the coronavirus pandemic, as well as increased growth. stable coins and others cryptocurrency,
The BIS study also highlights the fact that central banks are putting more effort into retail CBDCs. Nearly one-fifth of central banks are working on retail CBDCs, which is twice the share of wholesale CBDCs. When it comes to the underlying architecture, more central banks are looking at those involved in the private sector.
More than 70 percent of central banks are considering a two-tier model, where the CBDC is distributed to the public through private sector intermediaries. “Financial stability and growth in cross-border payments are the reasons for the growing demand for retail CBDCs,” BIS said.
The paper cited the emergence of multiple CBDCs, starting with the launch of the Bahamian Sand Dollar and Nigeria in October 2020. e naira A year later as well as the evolution of the Eastern Caribbean DC Cash and of china digital yuan in 2021. According to a BIS survey, more than 70 percent of central banks are exploring CBDCs with “private sector collaboration and interactivity” for existing payment systems.


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CEO of Brompton Bicycles to address the BCC Conference
The final speaker for the British Cleaning Conference, taking place on the 5th October at London’s CBI Centre, has now been confirmed. Will Butler-Adams, CEO of Brompton Bicycle’s Ltd, will be speaking about the advantages of manufacturing domestically and the benefits of sourcing products from British based companies during challenging economic times.
The company, which turns out 100 precision-crafted bicycles a day from its factory in Kew, west London, sources all its materials and manpower domestically. They sell bikes in 27 overseas markets, as well as servicing the needs of the 200,000 dedicated Brompton customers already on the road.
Mark Woodhead, Chairman of the British Cleaning Council, said: “We are delighted that Mr. Butler-Adams has agreed to speak at the Cleaning Conference. Brompton is the last major manufacturer making bikes in London and the company is a true British success story. I am sure the delegates on the day will be very keen to hear his advice on the advantages to be derived from choosing British manufacturing, as there is a wealth of knowledge that can be transferred between our industries.”
Mr. Butler-Adams, whose background is in engineering, took over as managing director of Brompton''s in 2008. He has overseen the businesses expansion of 25 per cent a year, as they constantly refined and augmented their product. They currently export approximately 70% of their bikes to international markets, and are well-placed to continue to grow as a key player in the urban cycling renaissance.
Limited tickets remain available for the BCC Conference: please visit


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Illinois Tool Works Inc. is bucking Wall Street's preference for tight corporate focus with its $3.4-billion purchase of neighboring north suburban Premark International Inc. But analysts predict divestitures of Premark assets will narrow the disparities between the two manufacturers.
ITW EXPECTED TO SELL PREMARK BUSINESSES
In Premark, Glenview-based Illinois Tool Works (ITW) is gaining a food-equipment manufacturer with a consumer products segment, whose leading business customers are restaurants, hotels and hospitals. ITW's biggest customers for its industrial tools and components are in the automotive and construction industries.
Despite a dip in ITW's stock price following the merger announcement Thursday, analysts lauded the deal and speculated that ITW eventually will shed much of Premark's consumer business, which includes West Bend kitchen products and Precor exercise equipment. Another likely divestiture candidate: Florida Tile, which makes wall and floor tile products.
"I really do question how long those consumer products stay with the combined company," says Thomas Mahowald, senior securities analyst with Minneapolis-based American Express Financial Advisors, ITW's largest institutional holder with a 4% stake.
Before the merger announcement, Deerfield-based Premark told analysts its consumer businesses, as well as Florida Tile, were candidates for divestiture.
The all-stock deal values Premark stock at $55 a share, a 60% premium over Thursday's closing price of $34.25. Premark shares soared 48% Friday to close at $50.69. ITW shares, meanwhile, fell 8% to $73.69, as shareholders -- accustomed to ITW's normal practice of buying numerous small companies -- digested news of its biggest acquisition.
W. James Farrell, chairman and CEO of ITW, which had 1998 sales of $5.65 billion, will retain those titles when the deal closes later this year. Premark Chairman and CEO James M. Ringler will take an as-yet-unspecified senior management role with the combined company, the firms say.
Mr. Farrell has been a member of Premark's board since 1996, enough time to give him a bird's-eye view of the $2.74-billion company. (He stopped attending board meetings after merger talks started in the spring.) Analysts say Mr. Farrell already had sold Mr. Ringler on some of ITW's profit-enhancing philosophies, which should make integrating the two companies easier.


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'Pink slime' beef company suspends operations at three of four plants
- The three plants used to produce 900,000 lbs of pink slime per day
The company that makes 'pink slime' suspended operations Monday at three of four plants where the beef ingredient is made, saying officials would work to address recent public concern about the product.
Beef Products Inc. will suspend operations at plants in Amarillo, Texas; Garden City, Kansas; and Waterloo, Iowa, according to Craig Letch, the company's director of food safety and quality assurance.
The company's plant at its Dakota Dunes, South Dakota, headquarters will continue operations.
Beef Products, Inc has decided to suspend operations at three of is four plants after an uproar over the use of 'pink slime', the nickname for boneless beef trimmings that are treated with ammonia and used as filler
'We feel like when people can start to understand the truth and reality then our business will come back,' Letch said.
'It's 100 percent beef.'
Federal regulators say the ammonia-treated filler, known in the industry as 'lean, finely textured beef,' meets food safety standards.
But critics say the product could be unsafe and is an unappetizing example of industrialized food production.
The low-cost ingredient is made from fatty bits of meat left over from other cuts. The bits are heated and spun to remove most of the fat. The lean mix then is compressed into blocks for use in ground meat.
The product is exposed to ammonium hydroxide gas to kill bacteria, such as E. coli and salmonella.
Spot the difference? The three factories used to churn out 900,000 lbs of pink slime a day. The burger on the right uses the filler, the one on left does not
The result is a product that is as much as 97 percent lean beef, Letch said.
The product has been used for years, but it wasn't until earlier this month that social media suddenly exploded with worry and an online petition seeking its ouster from schools garnered hundreds of thousands of supporters.
The U.S. Department of Agriculture decided to allow school districts to stop using it and some retail chains have pulled products containing it from their shelves.
About 200 employees at each of the three plants will get full salary and benefits for 60 days during the suspension, Letch said.
The plant in Amarillo produced about 200,000 pounds a day, while the Kansas and Iowa plants each produced about 350,000 pounds a day.
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Trading veteran makes major Tesla stock prediction
Renowned trading veteran, Boris Schlossberg, has shared intriguing views on the future direction of the Tesla stock price.
The former Wall Street trader, who for many years has been live streaming his day trading activities to a large global following, believes Tesla (NASDAQ: TSLA) won’t see its all-time-high of $1229.91 ever again.
“I am convinced, that just like Cisco (NASDAQ: CSCO) never saw its dot com era highs, Tesla will never see $1,200 again as a stock,” said Schlossberg on The Market Huddle podcast.
“My argument for why…It’s not the company, Cisco has been a great company for 20 years it was just grossly overvalued and it could never grow back into the kind of ridiculous valuation it had, which is the exact same thing with Tesla.”
Tesla stock reckoning to come as market wakes up to EV competitors
Schlossberg says the rapid innovation by incumbent auto manufacturers, such as Ford (NYSE: F) is one of the major reasons behind his bearish Tesla stock prediction.
“What’s happening right now in the whole EV space is Ford is really coming on board. To me the absolute stake into Elon’s heart will be if the Ford F50 EV model, which is already going to three lines because they can’t keep up with demand, becomes a hot seller.
“Because it radically changes the whole idea of what a car is like, in the sense that it’s not just a car, it becomes a power generating plant for people who are in it.
“It’s going to just create a massive amount of alternative choices… It’s going to pressure the margins.
“The Tesla truck is a joke right? It something that a hipster in Brooklyn would buy as a truck, it’s not something that any real person who needs a truck, like the contractors at my house, would buy.”
Cult following to end
Schlossberg added he anticipates the cult following that has surrounded Tesla and its CEO, Elon Musk, will fade in the coming years.
“So to me, the interesting story here is now that all these companies (Tesla competitors) are going to bring supply onto the market, there’s going to be this massive amount of supply of electric vehicles on the market, how will Tesla work when it becomes just a car company instead of a fanboy company? I think that’s going to put pressure on the stock going forward.
“People are still thinking of the myth of Elon Musk but I think what’s going to be happening in the next year or two, you’re going to see a much more realistic sober assessment of the automobile industry going forward.”
Year-to-date, Tesla’s stock price has fallen around 27 percent. However, since the start of 2019 it is up around 1,200 percent.


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If they weren't already copying her style and wearing predominantly black, the fashion world would have donned their mourning clothes today. Carine Roitfeld, the angular and enormously influential editor of Paris Vogue, quit the magazine to concentrate on "personal projects".
"Oh Mon Fucking Dieu. Carine Roitfeld is leaving Vogue Paris! Even my phone froze in shock," was a typical response from one fan, the Canadian fashion blogger Sarah Nicole Prickett.
Roitfield was quick to dismiss talk of a rift, insisting it was her decision to step down after almost a decade at the helm of perhaps the most influential fashion title in the world. "It's 10 years that I'm editor of the magazine," Roitfeld told the New York Times today. "I think it's time to do something different."
She will leave in January.
Within minutes of the announcement, rumours began to swirl that she would team up with designer Tom Ford, her friend and long-time collaborator. In the 1990s when Ford took over at Gucci, Roitfeld was his muse and stylist, playing a crucial role in returning the brand into a cutting-edge luxury label. This autumn, Ford exhibited his first women's wear collection in years.
Both Ford and Roitfeld declined to comment when approached by the Guardian.
What marked Roitfeld out from her rivals was her hands-on approach to magazine editing. She would personally style many shoots, which over the years incorporated everything from butchery to prosthetic pregnant bellies. Perhaps her most controversial moment came last year when she blacked up the Dutch model Lara Stone for photographs in the magazine.
She shrugged her perfectly tailored shoulders at political correctness, constantly showing models smoking (once while wearing the aforementioned fake baby bump) and even, in the most recent edition, enjoying cunnilingus – while apparently hooked up to a drip.
She was a walking advertisement for the magazine, inventing trends and directly influencing the catwalk. So when she said things like: "You know, I think as you get older, the snake is more chic than the leopard", designers around the worldrushed to their reptile dealers.
"It is impossible to overstate Carine's powerful contribution to Vogue and to the fields of fashion and magazine publishing. Under her direction, Vogue Paris received record levels of circulation and advertising and editorial success," said Jonathan Newhouse, chief executive of Condé Nast International. "Vogue Paris has established itself as one of the most iconic magazines in the world, with huge influence in the field of fashion and photography."
Roitfeld said she stepped down after telling Newhouse she wished to pursue other projects. "I have no problem with Jonathan and he understood me very well," she said. "I had so much freedom to do everything I wanted. I think I did a good job." She was quitting while she was ahead, she said. "When everything is good, maybe I think it's the time to do something else." The March issue is likely to be her last, but she was not sure what she would do after that. "I have no plan at all," she said.
Despite this claim to have nothing planned, many still believe she will usurp Anna Wintour as editor of US Vogue. These rumours have circulated for years, despite Roitfeld always denying wanting Wintour's job. Asked about it in an interview with the Guardian last year, she said: "No! How you say, there is no rumour without fire? No smoke? Well, in this situation, there was no fire, because I was never, ever approached to go to America. And to be honest, if they approached me, I think it's really not me. I'm good at what I do here and I'm not sure if you put me in that world I would be as good. I think it's much easier to talk to 100,000 women than millions of women across America."
Wintour lavished praise on Roitfield today, saying she had "drawn global attention to her own inimitable style".
In her 10 years editing French Vogue, Carine invigorated Paris fashion with her support for new talents like Riccardo Tisci at Givenchy and Christophe Decarnin at Balmain," she said.
"The recent 90th-anniversary issue and its masked ball was the perfect distillation of everything Carine stood for: a very modern and exacting idea of French chic, stripping away any bourgeois affiliations to create something with edge, excitement and an erotic frisson."
A former model, Roitfeld started her writing career at Elle, and worked her way up the ranks before she teamed up with Ford at Gucci and then Yves Saint Laurent. After only a year at YSL, she was asked to edit Vogue, further cementing her influence in the international fashion industry.
The website of Paris Vogue played tribute to its departing editrix with a photo gallery showcasing 50 of Roitfeld's most famous looks.
Condé Nast said her replacement would be announced within the next few weeks. Current frontrunners include Emmanuelle Alt, Paris Vogue's fashion director, and Aliona Doletskaya, the recently resigned editor-in-chief of Russian Vogue.


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China Oct export growth 5-month high
However, he also said it would be difficult for China to hit a 2012 target to grow total trade by 10 percent, a line he reiterated on Saturday. January through October export growth was over 6 percent, so it will be very difficult to meet our target, but we will still try, Chen said at a press briefing.
The outlook for the next few months is relatively serious and the difficulties will extend into next year.
This year's weakening demand for China's exports was reflected in the just-concluded Canton Fair, China's largest biannual trade exhibition, where total transactions this autumn season dropped 9.3 percent from a year earlier.
Still, other Chinese economic data suggest the worst may be over, even if a sharp rebound is not at hand. Two factory purchasing managers' reports last week showed a contraction in new orders eased in October.
Figures on Friday, including industrial production and investment, suggested the economy was picking up after growth fell for seven straight quarters through the third quarter.
Despite efforts to rebalance the economy towards domestic consumption, exports generated 31 percent of gross domestic product in 2011, World Bank data shows, and supported an estimated 200 million jobs.
To steady the economy, Beijing has tried to help exporters and importers by speeding up payments of tax rebates, cutting red
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Lancaster Colony reported higher full-year earnings today (18 August) as the US group’s profits were boosted by higher sales and margins.
Operating income for the year to the end of June stood at a “record” US$184.6m, compared to $154.9m a year earlier. Operating margin grew by nearly 150 basis points, the company added. Net income increased to $121.8m versus $101.7m.
Net sales, including the contribution of Flatout, the flatbread business acquired in March 2015, rose 7.8% to $1.19bn versus $1.1bn in the prior year. Comparative sales increased 5.3% in the period due to both volume growth and higher pricing.
Chairman and CEO John Gerlach, Jr. said the result was a “great accomplishment”. He continued: “During the course of the year, we navigated through a period of historically high egg costs and persistent challenges in our frozen dinner roll business. We also completed the first full fiscal year with our Flatout flatbread business. Midway through the year, we undertook an initiative to selectively rationalise some of our foodservice business to reduce operational complexity and improve efficiencies in our production of dressings and sauces. Additionally, our continued emphasis on product innovation and consumer trends led to the launch of several new products and line extensions, including Marzetti Vineyard Dressings; Avocado Ranch and Sriracha Ranch flavoured veggie dips and Simply Dressed dressings; and a Bake & Break garlic bread loaf from New York Brand Bakery.”
Looking to the coming year, Gerlach said revenue growth is expected to be supported by “recent and upcoming innovations”.
“Commodity costs are expected to remain favourable through the first half of fiscal 2017 while our investment in marketing and promotion for our retail brands, including support for new product introductions, is projected at higher levels in the coming quarters,” he said.


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The buildup to the Christmas period has become one of the most important for movie studios looking to end the year with a push to profitability which has become more important after a series of underperforming blockbusters across the Summer of 2017. The Guardian reports the release of a number of movies designed to build word of mouth success in the buildup to Christmas has been headed by the release of two sequels, “Paddington 2” and “Daddy’s Home 2”.
The latest figures from the U.K. box office reveals “Daddy’s Home 2” has topped the nation’s performance lists taking an impressive total of more than $6 million during its opening weekend. The release of the first movie in the “Daddy’s Home” franchise took just over $2 million but opened on Christmas Day when British cinemas are generally closed. In the U.S., “Daddy’s Home 2” has completed its third week of release and has grossed more than $70 million at the American box office.
“Paddington 2” remains the overall success story of the Fall at the U.K. box office taking more than $25 million across the first 17 days following its release to perform even better than the first entrant in the franchise based on beloved children’s books by Michael Bond.
The success of the two comedic movies has not been matched by the release of the latest installment in the DC Comics universe, “Justice League”. Entering its second weekend of release in the U.K., “Justice League” took just over $4 million over the last weekend to give the movie an overall ten-day gross of just over $15 million; the fall of the “Justice League” movie has included a total drop of 60 percent when compared to its opening weekend to leave the franchise struggling to match the figures achieved by the first release in the partnership between Warner Bros. and DC Comics, “Suicide Squad”.


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Karnataka to physically verify GST payers
Entities that have generated a large number of e-way bills compared to average e-way bills generated during previous periods.
New Delhi: Karnataka commercial taxes department has directed physical verification of registered taxpayers under goods and services tax (GST) to ascertain their credentials, potentially starting ‘inspector raj’ in the new tax regime.
This directive could set a precedence and other states may follow Karnataka’s footsteps.
This is being done to check tax evasion in sensitive commodities. Some of the sectors in focus include arecanut, cashew, rubber, auto parts, electrical goods, electronic goods, edible oil, readymade garments, timber, cement and construction material.
Those entities that have generated electronic way (e-way) bills despite being a non-filer of returns could face such checks. Entities that have generated a large number of e-way bills compared to average e-way bills generated during previous periods and those with gap between inward and outward supply e-way bill should expect such a visit by a tax officer.


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Things haven’t been going well for Xiaomi in the past few days in India. The company is accused of sending Rs 5,551 crores to its foreign parent companies to evade tax in the country. Therefore, Enforcement Directorate (ED) seized the assets worth Rs 5,551 crores under the provisions of the Foreign Exchange Management Act, 1999. The money has been seized from four accounts of the company.
In response, Xiaomi filed a challenge against the ED’s action in Karnataka High Court which, on May 5, has put a stay on the seizure of amount from the company’s bank account, Reuters reported. As per the Karnataka court’s website, the next hearing will take place on May 12.
Not Much Relief for Xiaomi!
Xiaomi, in a response to ED action, said that it was not doing anything wrong and that the royalty payments and bank statements are genuine. While Xiaomi has gotten some relief from the judiciary, it should be noted that the company will still have to inform Indian authorities such as ED about the fund transfers like royalty payments.
The relief was granted after the high court judge heard the matter from Xiaomi’s lawyer.
Last Sunday, ED took action against Xiaomi after seizing its assets worth Rs 5,551 crores. The company was on the radar of ED since December 2021 when a raid took place at its office. The raid also took place at the office of Oppo and Huawei but the department started an investigation against Xiaomi after it found some irregularities in the company’s record.
The Enforcement Directorate has said that Xiaomi India has transferred money to the three foreign-based entities from which they have not availed any kind of service.
Xiaomi entered the Indian smartphone market in 2014 and now it is the top smartphone maker in India. It has a 24% market share in the Indian smartphone industry and reportedly has an annual turnover of Rs 34,000 crores in the country.
You can know about the whole Xiaomi’s Rs 5,551 crore seized story by clicking here.


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Video: Chevy Volt goes through Water Trough Test
General Motors must have a lot invested in the Chevrolet Volt EV. The new electric car is still about a year away from seeing the dealerships but GM isn’t wasting time as far as promoting and marketing what the Volt can – or presumably, cant – do.
In their latest released video, the Chevy Volt goes through a flood test at the Milford Proving Ground to highlight just how the batteries inside the car will be sealed in the event of an actual flood.
Check out the video to see the Volt turn into an amphibious vehicle.


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A new engineering services sector survey shows that three-quarters of businesses (73 per cent) expect their turnover to fall in the second quarter of 2020, compared to the first quarter.
Looking further ahead to the third quarter of 2020, a similar number of businesses expect turnover to fall (compared to the start of February 2020 – selected as a reference point before significant coronavirus impact). Of these, almost one in four businesses (23 per cent) expect a fall in turnover of 50 per cent or more.
These figures are the biggest ever anticipated drop in turnover since the sector business survey began, over a decade ago. One in 20 respondents (five per cent) reported that by the end of Q3 this year, their business ‘may not be viable’, while a further 10 per cent said they were unsure about viability.
In the current circumstances, many potential survey respondents may have been on furlough, restricted from working or not trading. However, a remarkable 15 per cent of respondents said they expect their businesses to grow by the end of Q3, with a further 70 per cent expecting their businesses to be viable, with turnover either reducing or holding on.
ECA CEO Steve Bratt said: “Although construction has continued to operate through the crisis, at least in part, it is no surprise to see the reductions in turnover and the challenges to business in remaining viable. However, the figures also demonstrate our sectors resilience and importance and we shouldn’t forget that in the medium and longer term many of the challenges we face as a nation will provide growth opportunities.”
In terms of the impact on jobs at the end of Q3 (compared to the start of February), half of businesses who responded expect to have the broadly same number of direct employees. Furthermore, two-thirds of businesses (67 per cent) expect wages to be broadly the same, although 17 per cent expect wages to fall.
BESA Director of Legal & Commercial Debbie Petford said: “These statistics show the unprecedented damage that this crisis has inflicted on our sector. Despite so many businesses struggling to survive through no fault of their own, it is encouraging to see how resilient the vast majority of the sector is.
“Government have demonstrated its continued support for businesses throughout this crisis and this should be complimented by industry playing its part too. It is critical businesses work together in a collaborative spirit with their supply chain, and it is encouraging to see these principles reflected in the new CLC Contractual Best Practice Guidance and the RICS Conflict Avoidance Pledge, proving the industry can work together in these challenging times.”
However, the use of subcontractors has fallen in the short term, and employers expect this to continue. In Q1 of this year, some 22 per cent of respondents said they were using fewer subcontractors than in Q4 2019. Looking ahead, 61 per cent of businesses using subcontractors expect to use less at the end of Q3, compared to the start of February.
The survey received 431 responses from companies across the multi-billion-pound industry, mainly regarding their performance in Q3 2019 (1 July to 30 September 2019), and expectations for Q4 2019.
Join 12,000+ of your FM peers from across the world at ExCeL London on 08-10 September. Bring the team and boost your CPD, your skills and your career with seminars and workshops at the only IWFM- supported exhibition. Test, trial and source smart solutions across technology, cleaning, FM services, waste and energy management; and meet a host of suppliers for new business collaborations. Your ticket also gives you free access to co-located shows to boost your specialisms across wellbeing, smart buildings, fire, security and health & safety.


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John J. Hogan, CHA CMHS CHE CHO is a career business professional and educator who has held senior leadership with responsibility in several organizations involving operational, academic and entrepreneurial enterprise. He has demonstrated competencies as a strong leader, relationship builder, problem solver and mentor and is frequently invited to speak at franchise meetings, management company and hospitality association industry events. He also acts as an expert witness in both research and testimony in hospitality industry related cases.
John has been a part of the hospitality industry his entire adult life. He started out as a teenager at a seasonal summer resort in Vermont and shares that his emotion towards the spirit of hospitality was very profound from the beginning. John studied hospitality at University of Massachusetts and over the last 40 years has worked with companies of all sizes ranging from smaller family owned large to large independents, to niched, to corporate and franchises. He feels it is an exciting, never boring, always changing industry.
Hotel appraisers and brokers expect distressed assets to come to market as the pandemic recession continues into 2021. Analysts say billions of dollars in private equity are waiting in the wings to acquire hotels underperforming as a result of the coronavirus crisis. But pricing will be different than in previous economic downturns. While a transaction may be distressed, it will not necessarily reflect distress pricing,” said Daniel Lesser of LW Hospitality Advisors. Long Live Lodging explores the state of hotel values as well as what may lie ahead with regard to transactions in 2021 as the spread of COVID-19 continues to stifle lodging performance. This report is part of our ongoing coverage of the coronavirus crisis and its impact on the hospitality industry.
Global business travel is a $1.4 trillion industry. The Global Business Travel Association calculates the coronavirus pandemic in 2020 resulted in a loss of $113 billion in business travel spend in hotels, airlines and other sectors of the travel industry. But all is not lost. GBTA, industry analysts and travel management companies see some green shoots of hope for 2021 as the COVID-19 vaccine rolls out and corporations put some of their people on the road again. This report is part of Long Live Lodging’s ongoing coverage of the coronavirus crisis and its impact on the hospitality industry.


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Advice from Peterborough travel company Thomas Cook as it cancels all Sharm el Sheikh flights and holidays
Peterborough based travel giant Thomas Cook has cancelled all holidays to Sharm el Sheikh in Egypt in the wake of the Russian Metrojet disaster.
After the UK Government stepped in to ground all British flights from the holiday resort last night, Thomas Cook has cancelled its flight and holiday programme to Sharm el Sheikh up to and including Thursday November 12.
The Bretton based company confirmed that it has noted the (FCO) Foreign and Commonwealth Office’s decision to advise against all but essential air travel to Sharm el Sheikh airport with immediate effect.
A statement from Thomas Cook said: “The health and safety of our customers and staff is our absolute priority, and we will be seeking to bring all 1,700 customers currently in resort back to the UK in due course.
“Given that no UK flights will be operating in or out of Sharm el Sheikh on Thursday November 5, we have made arrangements for any customers due to return home today to remain in their accommodation free of charge.
“Our team in destination are dedicated to ensuring that all customers are as comfortable as possible until such a time as they fly home.”
Thomas Cook is offering customers due to travel to Sharm el Sheikh up to and including Thursday November 12 the opportunity to cancel or re-book their holiday free of charge, offering a £25 discount per person on the alternative holiday booked. Booking conditions are as normal for travel after that date, pending further FCO advice.
Any customers wishing to amend or cancel their booking should visit their local Thomas Cook or The Co-operative Travel store or call our dedicated customer hotline, 01733 224536.
This is for: Customers who have any concerns regarding their friends or family returning from resort or any customers with future bookings to Sharm el Sheikh who wish to amend or cancel their booking.
A dedicated line for Travel agent enquiries has also been set up - 01733 224 520 and Thomas Cook has made extra staff available in Peterborough to answer calls.


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UPS rolls out 2014 rates for Ground, Air and International, and Air Freight
November 22, 2013
UPS announced yesterday that it has rolled out an average rate increase of 4.9 percent for its Ground, Air, and International parcel products that will go into effect on December 30, 2013.
Company officials said these rates apply to within and between the U.S., Canada, and Puerto Rico, adding that updated rate and service information is now available on the company’s Web site, with customers able to download the 2014 USPS Rate and Service Guide on December 30, when the new rates go into effect.
This follows a September announcement by UPS’s biggest competitor, FedEx, whom announced 2014 rates in September. FedEx plans to increase shipping rates for FedEx Express by a cumulative average of 3.9 percent for U.S. domestic, U.S. export and U.S. import services that will take effect January 6, 2014. Rate changes for 2014 FedEx Ground and FedEx SmartPost pricing offerings are expected to be announced before the end of the year.
“As it has historically done, UPS Ground increases are higher at the lighter weights and less impacting at heavy weights,” said Rob Martinez, president & CEO, Shipware Systems Corp, a San Diego-based parcel consultancy. “The 2014 Ground Minimum Charge is $6.24, a 6.8 percent increase from 2013.”
For years, said Martinez, the UPS “Daily Rates” were better than FedEx’s list rates, but with the 2014 rate increase, the UPS Daily Rates are now a lot closer with FedEx, especially for 1-2 day service options.
“On the whole, UPS Daily rates are still less expensive for 3-Day Air than FedEx Express Saver, but it depends on weight and zone configurations,” explained Martinez. “In 2014, UPS ‘Standard Rates’ will match FedEx’s published rates. It is important to note that FedEx maintains a more favorable fuel surcharge threshold than UPS for both Express and Ground packages at current fuel prices.”
An analysis provide to LM by Dan Malech, AFMS Pricing Director and Doug Caldwell, AFMS VP International, noted that this marks the first time since 2010 that UPS is not offsetting the rate increase with a reduction to the fuel index.
But they said that the average increase for base rates does not tell the whole story.
“For example, the ground zone 2, 1 lb. minimum has increased 6.8 percent (greater than last year, and the highest since 2011) and many lightweight ground cells are taking increases approaching 8 percent,” they wrote. “Additionally, the seldom used 71-150 lb. cells are only increasing 3.6 percent, which is driving the overall average increase down. The Ground Residential Surcharge is increasing 3.5 percent, down from 9.8 percent last year; however, the increase to the service rates will still make this a very substantial increase. The Ground Delivery Area Surcharges are up 3.0 percent-3.5 percent.”
The AFMS executives said that UPS announced that their rate increase for air and international services is also 4.9%, with no offset to the fuel surcharge index. The base rates may average the announced increases, they said, and offered up a synopsis highlighting some particularly hard hit areas:
-higher zone express shippers could experience increases in the 6 percent-7 percent range; and
-surcharges for residential air deliveries are up 3.1 percent, down from 6.7 percent last year, while the delivery area surcharge is up 4.7 percent for commercial and 4.6 percent for residential, and in extended areas 4.3 percent
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Floors 2 Go is facing the worst market conditions it has seen in its six year history, the company's chief executive admitted yesterday.
As the Birmingham-based flooring retailer revealed a 30 per cent slump in 2005 underlying pretax profit, Simon Farnsworth said low consumer spending and a slowing housing market had hit hard.
"It would be fair to say these are the toughest market conditions we've faced since the company was founded," he said, after the firm issued its third profit warning since floating in 2004.
"We are also sceptical about 2006 and are not willing to make any predictions either way," he added.
The group, which now trades from 137 stores made a profit before tax, goodwill amortisation and exceptional items of #5.1 million in the year to December 31. This was down from a pro-forma #7.3 million in 2004. Turnover fell 5.2 per cent to #74.7 million.
Sales on a like-for-like basis, which strips out the impact of new space, fell 18 per cent, but gross margin improved to 49.8 per cent versus a pro-forma 48 per cent and operating cash flow was #6.7 million.
For the year to March 10, total sales decreased 9.7 per cent and were down 15.8 per cent like-for-like.
However, Mr Farnsworth said the business was being managed tightly and maintained it had achieved "a reasonable performance from a cash and profit perspective".
It was diversifying in attempt to mitigate poor retail trading conditions. "Our business was purely retail at the start of 2005," Mr Farnsworth said. "We are now trying to become the one-stop shop.
"We provide insurance and warranty services and have extended our accessories range - which makes up 26 per cent of our total sales."
The company has also moved into commercial flooring, winning a #50,000 contract to deliver flooring to the new Ramada Encore hotel in Walsall.
Mr Farnsworth said the company was now starting trials for a fitting service. It will take place in the West Midlands and is intended to be rolled out nationally later in the year.
"We remain confident that measures to control costs, cautiously expand store numbers and improve the product range and the business' infrastructure leave us well placed," he said.
The retailer plans to open 15 new stores in 2006. After investing #500,000 in a new 130,000 sq ft distribution centre in Oldbury, Floors 2 Go believes there is scope to trade from up to 350 outlets.
A final dividend of 0.75 pence was proposed, making a maintained 1.0 pence for the year.
Prior to the statement analysts were forecasting a 2006 underlying pretax profit of about #5.7 million.


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According to two fans who went backstage last night after her first sold out show in Los Angeles, Lady Gaga is set to work with NASA and Apple for her new higly anticipated album ARTPOP! Read what the two fans said:
She said that she’s creating new technology with NASA, Apple, etc… & it’s all for ARTPOP. She said it’ll be worth the wait.
Gaga told us that ARTPOP is gonna be completely different than any of her previous albums. & she told us that she doesn’t wanna release any new music now because she wouldn’t be able to promote it properly. So basically new music will be coming after the tour ends.
Thanks to @boyXsupreme and @MarcMonster.