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The H&M group is entering the fall season with style. On Wednesday, September 24, the retailer released its third-quarter earnings and reported an operating profit of 4.9 billion Swedish krona ($521 million). The H&M group owns brands including H&M, COS, Monki, and Arket. Its operating profit marked a 40% increase year-over-year (YOY) and beat analysts predicted 3.7 billion Swedish krona ($393 million), according to consensus estimates cited by CNBC. The figures also marked consecutive quarterly successes for the H&M group, which also beat estimated operating profits in quarter-two. However, the H&M group now predicts that 2025s quarter-four will yield less positive results due to the increased impact of tariffs. Stock price rises despite tariff warning Despite the concerning forecast, investors responded positively to H&M groups current earnings. Trading on the Stockholm Stock Exchange, the companys share price (STO:HM-B) jumped 10% through after-hours and into premarket trading Thursday morning. Other factors could have contributed to the boost in share prices. The H&M group reported that sales in local currencies had increased by 2% during the quarter. However, the company notably reduced its store count over the previous nine months. As of August 31, the H&M group had 4,118 stores, compared to 4,298 at the same point last year. The company closed 135, or 4%, of its store locations over the first nine months of the fiscal year, 48 in quarter-three alone. A majority of the closures were H&M and Monki stores in Europe, Asia, Oceania, and Africa. Only five stores shut down throughout North and South America. These closures dont necessarily point to a planned consolidation. The company pointed to a newly opened store, its first in Brazil, as being well received.
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E-Commerce
There’s no clearer sign of animes cultural ascendance than the box office haul of Demon Slayer: Kimetsu no Yaiba Infinity Castle. The film, which hit U.S. theaters two weeks ago, has pulled in more than $555 million globally, including more than $104 million in North America, making it a bonafide hit for Sony Pictures, which distributed it outside of Japan through its anime streaming arm, Crunchyroll. The movie’s success reflects audiences’ growing interest in anime. A survey from market research firm Dentsu found that, 31% of people worldwide said they consumed anime at least weekly, with a full 50% of Gen Z reporting they watch it. That’s translated into a boom in Crunchyroll subscriptions. The anime streaming service, which is home to more than 2,000 titles (including Demon Slayer), counted 17 million paid subscribers worldwide in May 2025more than triple the number it had in 2021. [Screenshot: courtesy Crunchyroll] Crunchyroll will soon offer those subscribers a way to go even deeper on the source material of some of their favorite shows, with the debut a manga reader app. The company shared a first look exclusively with Fast Company. Set to launch October 9 on mobile and October 15 on web in the United States and Canada, Crunchyroll Manga will debut with hundreds of titles, including the manga behind some of Crunchyrolls top series, including Jujutsu Kaisen, Kaiju No. 8, and Apothecary Diaries. For subscribers to Crunchyrolls $15.99-per-month Ultimate tier, access to Crunchyroll Manga will be free. It will be available as a $3.50 add-on for the $11.99 Mega Fan tier, and a $4 add-on to the $7.99 Fan tier. Its a feature that users have been asking for, says chief content officer Asa Suehira. Crunchyroll has been doing a lot of surveys over the past few years and digital manga has always been the most desired feature on our platform, he says. This is compared to shorter content, video games, music, or even discounts or credits toward merchandise. [Screenshot: courtesy Crunchyroll] Building a bridge between anime and manga From a user perspective, Crunchyroll Manga is designed to function much like the companys flagship streaming app, with important connections between the two. If a title in the manga app has a corresponding anime series on Crunchyroll, users can choose to start watching the show straight from the manga app. Their device will simply switch to the streaming app if its installed. Similarly, if a Crunchyroll anime series has a corresponding manga, viewers will have the option of clicking over to start reading it. Theres data saying that 40% of manga readers discover manga through anime, Suehira says. We want to create a new habit of discovery through manga, and being able to watch the anime as well. Crunchyroll has been clever about how it entices anime fans who might discover the genre through other streaming services. Notably, it will license shows like Jujutsu Kaisen to Netflix, but exclusively stream the latest season on its platform. Crunchyroll Manga offers an opportunity for it to replicate that approach in reverse. The service will include manga volumes for series that exclusively stream elsewhere, including Delicious in Dungeon and The Summer Hikaru Diedtwo anime adaptations that Netflix exclusively distributes. Fans of those series will have sign up for Crunchyroll if they they want to read the manga. The manga and anime apps will also be linked by user profiles. Any updates made to a profiles content restrictions in one will be be mirrored in the other. The main appeal, though, is the amount of manga fans will be able to access. Suehira says that by partnering with Link-u, which has developed digital manga infrastructure in Japan, we were able to work more closely with different publishers. [Screenshot: courtesy Crunchyroll] Making publishers happy Crunchyroll Manga is actually the second time the company has offered manga. A previous offering shut down in 2023. Suehira says part of that platforms downfall was because Crunchyrolls licensing agreement with manga publishers limited how much users could read. It also limited the opportunities for us to work with the publishers, Suehira says. Crunchyroll Manga will launch with a library of titles from publishers like Viz Media, AlphaPolis, and Square Enix. Crunchyroll says additional publishers will be added in the coming months, including Shueisha, which publishes the Demon Slayer manga. Part of what has gotten these companies on board, Suehira says, is Crunchyroll Mangas use of a revenue-sharing model that compensates publishers based on user engagement, similar to how the anime platform pays studios. Crunchyroll Manga also offers a legitimate way for burgeoning anime fans to read source material. Suehira says 15 of the top 20 internet piracy sites include anime and manga, and that manga represents 70% of global publishing pracy. We want [Crunchyroll Manga] to be a solution to the privacy market and really contribute to the ecosystem in Japan, Suehira says, adding that the app includes features the prevent screenshots and screen recording. Part of working with publishers means tracking a titles popularity, which can inform payments, but also potentially predict a future hit adaptation. [Publishers] want to understand how the crowd is reacting to certain manga or an IP, he says. Data on consumption and fan reactions are things we could work together with our partners in Japan to expand the opportunitywhether thats turning into an anime or selling merchandise.
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E-Commerce
The risk of a partial U.S. government shutdown beginning next week is rising as congressional Democrats and Republicans hit an impasse over how to continue to fund the federal government. A shutdown could affect financial markets by limiting the operations of financial regulators and delaying the publication of key economic data. How might markets react? Historically, markets have tended to shrug off shutdowns. However, this time could be different. A prolonged shutdown risks delaying or canceling key economic data releases investors use to assess macroeconomic trends, such as the monthly employment and inflation reports, analysts at Nomura said in a note this week. That would mean the Federal Reserve is flying blind, making it more likely to stick with its own economic projections of two 25-basis-point rate cuts for the rest of 2025, the analysts said. With investors unable to assess the extent of a U.S. economic slowdown, the Treasury yield curve could steepen further as rate cuts get priced in with more conviction, leading to a wider gap between short- and long-dated Treasury yields, TD Securities said in a note. A lengthy government shutdown could also affect some market participants’ ability to conduct complex trades for which they may require regulatory guidance. What happens to financial regulators? While U.S. President Donald Trump’s administration had not widely shared its contingency plans as of Tuesday, a shutdown would likely reduce the U.S. Securities and Exchange Commission (SEC) to a skeletal staff, according to its October 2024 plan for a lapse in government funding. This would severely limit the agencys ability to review corporate filings, investigate misconduct, and oversee markets. Likewise, the Commodity Futures Trading Commission would furlough almost all of its employees and cease most market oversight activity, according to its 2023 contingency plan. Previous government shutdowns have caused delays in the CFTC publishing reports on traders’ positions in futures and options markets. The banking regulators and consumer watchdog, which are not funded by congressional appropriations, will remain functional. In 2019, a protracted government shutdown slowed down some of Trump’s de-regulatory efforts in part because of staff furloughs at the Office of the Federal Register, which must formally publish all steps in the rule-writing process, Reuters reported at the time. Will IPOs be affected? Yes. A shutdown would likely freeze the IPO pipeline. Companies planning to go public would be unable to proceed without the SEC’s approval, potentially dampening momentum in the equity capital markets, which have enjoyed an IPO boom in recent months. Michelle Price, Reuters
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E-Commerce
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