retail sector news

1st Aug 2023

Belgium-based company Ontex Group's H1 FY23 revenues soared to €892 million, a 15 per cent YoY increase. Adjusted EBITDA reached €84 million, a 2.1-fold rise YoY, while operating profit was €36 million, a stark contrast to the €84 million loss in H1 FY22. Free cash flow also rebounded to €4 million, compared to a deficit of €59 million in H1 FY22

1st Aug 2023

Procter & Gamble (P&G) reported a net sales rise of 2 per cent to $82 billion in FY23. In Q4 FY23, net sales were up 5 per cent to $20.6 billion, bolstered by robust organic sales growth across all segments. Diluted net EPS grew 2 per cent annually and 13 per cent quarterly. The company’s gross margin in Q4 FY23 increased by 380 basis points.

31st Jul 2023

Finland-based company Metsa Group reported sales of €3,116 million in H1 FY23, down from €3,416 million in H1 FY22. Operating result also fell to €402 million from €589 million. In Q2 FY23, the company saw a similar trend with sales at €1,481 million, down from €1,822 million in Q2 FY22. The company's profitability and cash flow also declined.

31st Jul 2023

Freudenberg Performance Materials has launched a 3D entangled mat production line in Changzhou, China, to supply Enka Solutions for building, industrial, and civil engineering applications in the APAC region. This investment will boost Enka Solutions production capacity and allow Freudenberg to serve customers in various technical markets.

31st Jul 2023

Braskem, located in Brazil, has increased the production capacity of its bio-based ethylene plant by 30 per cent through an $87 million investment. The plant now operates at 260,000 tons/year and produces bio-based ethylene from sugarcane-based ethanol, contributing to carbon neutrality. Braskem aims to produce one million tons of biopolymers by...

31st Jul 2023

Taiwan’s Dahsheng Chemical (DSC) has launched its Durapontex N-Series at the NE and NW Materials Shows, becoming the first brand to use supercritical foaming technology for insoles at scale. The N-Series foam is fully recyclable. The series offers various densities and rebounds, featuring models like Durapontex N20, demonstrating high resilience.

28th Jul 2023

Mann+Hummel has signed an agreement to acquire a majority stake in Suzhou U-Air Environmental Technology (U-Air). This move strengthens Mann+Hummel's presence in China and Southeast Asia, catering to the increasing demand for air filtration products in the region. The transaction is expected to be completed in 2023, pending regulatory approvals.

28th Jul 2023

Indorama Ventures and Polymateria have been honoured with the INDA Innovation Award for their groundbreaking collaboration in developing Biotransformation technology for wipes. The partnership with Polymateria brings a real-world solution to waste management and aligns with Indorama Ventures' commitment to optimise the earth's resources sustainably.

26th Jul 2023

At the 6th National Conclave on Standards and Regulations, India’s ministry of textiles, FICCI, and BIS highlighted the importance of technical textile standards. New standards were introduced, and HSN codes rationalisation was emphasised. The global technical textiles market, currently at $260 billion, is projected to increase to $325 billion by...