sales growth

 
 

Wall Street advances as media stocks gain; Nasdaq hits record

NEW YORK, June 20 — Technology and media stocks pushed Wall Street higher today and helped the Nasdaq hit a record high, as markets eyed a recovery after being battered by a rapidly escalating China-US trade tensions. Twenty-First Century Fox…


eBay’s new platform a hit with local businesses

KUALA LUMPUR: Global e-commerce platform, eBay, which launched its “Go Global with eBay” initiative almost a year ago, has managed to attract more than 3,500 Malaysian businesses. Head of Seller Growth (SEA Cross Border Trade) Wong Mei Inn said eBay was focused on offering localised seller support to catalyse the growth of cross-border trade in the country.

“Efforts in Malaysia are being localised across Asean with a strong focus on Thailand, Singapore and Indonesia,” she said in an e-mail interview with Bernama.

Wong pointed that sellers eligible for the Managed Account Programme could manage their goods more efficiently with access to overseas warehouses, on top of collaboration with carriers and third-party providers via eBay.

“Our focus on increasing the sales growth in Malaysia is to enable the local entrepreneurs to go global.

“We provide them with access to foreign markets with low entry barriers to enable these entrepreneurs to grow their businesses and generate revenue,” she explained.

Wong emphasised that the aim was to leverage on the top three export destinations for Malaysian sellers, which are the United States, Australia and the United Kingdom, in order for them to expand their businesses and in turn contribute to the country’s sales growth.

She said the US remained as the top export destination for businesses based in Malaysia, with 55% of Malaysian sellers exporting there.

“The ongoing strength of the US dollar continues to provide good momentum for Malaysia’s eBay exporters, given its position as eBay’s largest market,” she said.

The retail export opportunity on eBay, she noted, was very accessible to Malaysian small and medium enterprises (SMEs) and businesses compared with the more traditional export industries.

“Malaysian businesses not only have the opportunity to grow their business further with the local market. Being on eBay enables them to tap into eBay’s global market – accessed by 170 million active buyers worldwide buying items from over one billion listings in our marketplace,” she said.

With this, eBay could help Malaysian SMEs expand their business opportunities bringing their ventures to the next level of growth, Wong said.

She said as a one-stop solution for internet retail, eBay was a global platform with local players in mind.

Thus eBay takes a strong stance against online piracy and the sale and distribution of counterfeit goods and products that infringe on individuals’ intellectual property (IP) rights.

“We created a Verified Rights Owner programme allowing owners of IP rights and their authorised representatives to report eBay listings that may infringe on those rights,” she explained.


eBay’s Go Global platform attracts over 3,500 Malaysian businesses

KUALA LUMPUR, June 17 — Global e-commerce platform, eBay, which launched its “Go Global with eBay” initiative almost a year ago, has managed to attract more than 3,500 Malaysian businesses. Head of Seller Growth (SEA Cross Border Trade) Wong…


Unilever signals unlikely to stay in FTSE after Dutch move

LONDON, June 14 — Consumer goods group Unilever said it is “extremely unlikely” to stay in Britain’s blue-chip FTSE 100 index after ending its dual-headed structure and moving its headquarters to the Netherlands. Unilever’s chief financial…


Outlet malls: A growing concept in Malaysia

The outlet mall concept is growing popular in Malaysia thanks to the increasing demand for retailers to put off-season merchandise in a separate channel. An outlet store, factory outlet or factory shop is a brick and mortar or online store in which manufacturers sell their stock directly to the public, cutting out the middle-men. Traditionally, […]


Wall Street rises, investors eye Fed decision, summit fears ebb

NEW YORK, June 9 ― US stock indexes edged higher in a choppy trading session yesterday as investors placed bets ahead of a busy week of central bank meetings and appeared to shrug off concerns about global trade. The S&P 500 reversed losses in…


Retail Group Malaysia upgrades sales growth outlook for 2018

KUALA LUMPUR: Retail Group Malaysia (RGM) has revised upwards its projected sales growth rate for the local retail industry in 2018 to 5.3% from 4.7% estimated in March 2018, based on the latest quarterly adjustments.

The consulting firm said members of the Malaysia Retailers Association (MRA) are hopeful that their business will recover by the second quarter of 2018, projecting an average growth rate of 6.0%, even after the retail industry recorded a below-than-expected growth rate of 2.6% in the first quarter.

“The change in ruling party after the general election is expected to boost consumers' confidence level and increase their willingness to spend. At the same time, the largest festival in Malaysia, Hari Raya, will be celebrated in June this year,” RGM said.

RGM has adjusted the second quarter retail sales growth forecast to 6.3% from 3.7% estimated in March 2018. The revised number is higher than the latest projection by MRA members. This new estimate takes into consideration the tax holiday during the last month (June) of the second quarter as well as the Hari Raya Aidilfitri celebration in the middle of this month.

“Many retailers, large and small throughout the country, have taken this once-in-a-life-time opportunity to offer great discounts to attract shoppers to buy. Higher expenditure from tourists, including Singaporeans, is also expected during this period,” RGM said.

The retail sales growth rate for the third quarter has also been revised from 5.2% (estimated in March 2018) to 6.8%. This revision takes into consideration the remaining two months of the tax break before the Sales and Services Tax is reintroduced from Sept 1.

For the last quarter of this year, the retail growth rate forecast has been revised downwards from 5.0% (estimated in March 2018) to 3.5%.

The adjustment is needed to reflect higher consumers' spending during the three-month period with zero-rated Goods & Services Tax. Major purchases are expected to be made from June to August of this year.


HP raises profit forecast as high-end PCs attract buyers

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Profit excluding some items may reach 49 US cents to 52 US cents a share in the current quarter, according to a statement Tuesday SAN FRANCISCO: HP Inc, the world’s largest personal-computer maker, beat analysts’ revenue estimates and raised profit forecasts on strong sales of higher-end products in a stagnating industry. Profit excluding some items may reach 49 US cents to 52 US cents a share in the current quarter, according to a statement Tuesday, mostly higher than the average analyst projection of 49 US cents. HP also raised adjustedRead More


China April industrial profit growth rebounds to six-month high

BEIJING, May 27 — Profits earned by Chinese industrial firms in April rose at their fastest pace in six months, data from the National Bureau of Statistics (NBS) showed today, as factories benefited from higher prices and strong demand. Profits in…


China Inc tightens reins on debt, raises spectre of slowdown

SHANGHAI/BENGALURU: Debt growth for Chinese companies has slowed to the lowest rate in more than a decade, according to Reuters analysis, which could provide relief for policymakers worried about the fallout from years of loose lending practices across the economy. But this growing caution about taking on new debt, along with tighter profit margins and […]