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Tag: fall

  • Berjaya Food Reports Rising Losses: Starbucks Malaysia’s Struggles Amid Middle East Conflict

    Berjaya Food Reports Rising Losses: Starbucks Malaysia’s Struggles Amid Middle East Conflict

    Berjaya Food, a Malaysia-based company, has recently reported a significant increase in losses and a decrease in sales for both their fourth quarter and the entire fiscal year. Berjaya Food, which operates Starbucks Coffee in Malaysia and Brunei, along with Kenny Rogers Roasters and Paris Baguette in Malaysia, experienced reduced sales due to a decrease in store numbers.

    Quarterly Report

    The revenue for the group, for the quarter ending on June 30, experienced a decrease of 11 per cent compared to the previous year, settling at RM115.8 million (US$27.4 million). This reduction is mainly attributable to the decrease in the number of store locations. However, the management has noted a slight increase in sales compared to the third quarter. This increment is primarily due to an improved sales performance from Starbucks Malaysia.

    In this quarter, the loss before tax increased from RM42.6 million to RM183.7 million. The primary reason for this increase was the impairment of property, plant, and equipment (PPE) and right-of-use (ROU) assets linked to non-performing stores.

    Annual Report

    For the entire fiscal year, the revenue dropped by 36 per cent, amounting to RM476.7 million. This drop is linked to the ongoing sentiment surrounding the Middle East conflict, which has affected market dynamics and altered customers’ purchasing behaviours.

    The pre-tax loss for the year broadened from RM89 million to RM288.7 million. This loss was due to the necessary impairment provision to PPE and ROU assets, resulting from the downsizing of Starbucks Malaysia’s operations.

    Questions & Answers

    What were the main reasons for the loss in Berjaya Food’s fourth quarter and fiscal year?
    The primary reasons were the impairment of property, plant, and equipment (PPE) and right-of-use (ROU) assets of non-performing stores, and also the downsizing of Starbucks Malaysia’s operations.

    Did Berjaya Food see any improvement in the fourth quarter compared to the third quarter?
    Yes, sales were slightly higher in the fourth quarter compared to the third, primarily due to improved sales performance at Starbucks Malaysia.

    How did the Middle East conflict affect Berjaya Food’s annual results?
    The ongoing conflict in the Middle East has influenced customers’ spending patterns and affected market dynamics, which contributed to the significant drop in the annual revenue.

  • Aldi Crowned Australia’s Top Supermarket For 13th Year In Canstar Survey

    Aldi Crowned Australia’s Top Supermarket For 13th Year In Canstar Survey

    In a recent survey conducted by Canstar, Aldi has emerged as Australia’s most popular supermarket for the thirteenth consecutive year. The supermarket chain outperformed its competitors, receiving the top rankings for providing excellent value for money, superior product quality, and outstanding service.

    Survey Rankings

    According to the rankings, Coles secured the second position, with IGA and Woolworths following closely. Aldi distinguished itself by receiving a perfect five-star rating in key categories, including value for money, freshness of fruits, vegetables and meats, quality of supermarket-owned branded products, as well as store and website layout and presentation.

    Canstar Blue spokesperson Eden Radford pointed out that customers prioritize low prices across all in-store products, not just those on special offers. Radford added that consumers are becoming more price-savvy, frequently checking unit prices and opting for in-season produce in order to maximize value.

    Comparison With Other Supermarkets

    Coles, however, fell short in terms of customer service and checkout experience, receiving only three stars in these categories. IGA, on the other hand, surpassed Aldi in terms of customer service and checkout experience. However, it could not match Aldi’s ratings in terms of value for money, freshness of produce, and product range.

    Woolworths managed to outshine all competitors in terms of product range, earning a five-star rating in this category. However, they lagged behind in customer service and checkout experience.

    Commenting on the results, Simon Padovani-Ginies, group director at Aldi Australia, stated that customers trust Aldi to consistently offer low prices and good value for their money. He went on to say that customers, both long-term loyalists and newcomers, continue to choose Aldi for their familiar staples as well as the unexpected but delightful finds in their aisles.

    Questions & Answers

    Which supermarket was ranked as Australia’s most popular by Canstar?
    Aldi was ranked as Australia’s most popular supermarket by Canstar.

    What factors led to Aldi’s high ratings?
    Aldi received high ratings due to its value for money, product quality, freshness of its fruits, vegetables and meats, and its store and website layout and presentation.

    How did Coles and Woolworths perform in the survey?
    Coles secured the second position overall, but fell short in terms of customer service and checkout experience. Woolworths outshone all competitors in terms of product range, but lagged behind in customer service and checkout experience.

  • H&M Fall 2019 Conscious Collection extends sustainability approach

    H&M Fall 2019 Conscious Collection extends sustainability approach

    H&M’s Fall 2019 Conscious Collection has exemplified the firm’s commitment to only use sustainably sourced materials by 2030 with pieces made from recycled materials or materials that have less impact on the environment.

    H&M’s Fall 2019 Conscious Collection has exemplified the firm’s commitment to only use sustainably sourced materials by 2030 with pieces made from recycled materials or materials that have less impact on the environment.

    From the softly tailored check separates to the animal print dresses and oversized hoodies, all in a colour palette of light neutrals, black and pops of orange-red, H&M’s new vibe is laid back yet sophisticated.

    The H&M Fall 2019 Conscious Collection launches in September and will be available worldwide, in store and online. Recycled polyester, most often made from used PET bottles, is the key material for the collection, found in the dresses, shirts, knitwear, outerwear and tailored pieces.

    “The H&M Fall 2019 Conscious Collection is all about the timeless classics and wardrobe staples you never get tired of,” said H&M’s head of design womenswear Maria Östblom. “Long-lasting design in more sustainable materials and the autumn must-haves you need to update your wardrobe.”

    “We want to use our size to lead the change towards circular and renewable fashion,” said the firm’s global sustainability manager Pascal Brun. “The H&M Fall 2019 Conscious Collection is an amazing example of how far we have come with technology and innovations replacing conventional materials with recycled alternatives.”

    From the softly tailored check separates to the animal print dresses and oversized hoodies, all in a colour palette of light neutrals, black and pops of orange-red, H&M’s new vibe is laid back yet sophisticated.

    The H&M Fall 2019 Conscious Collection launches in September and will be available worldwide, in store and online. Recycled polyester, most often made from used PET bottles, is the key material for the collection, found in the dresses, shirts, knitwear, outerwear and tailored pieces.

    “The H&M Fall 2019 Conscious Collection is all about the timeless classics and wardrobe staples you never get tired of,” said H&M’s head of design womenswear Maria Östblom. “Long-lasting design in more sustainable materials and the autumn must-haves you need to update your wardrobe.”

    “We want to use our size to lead the change towards circular and renewable fashion,” said the firm’s global sustainability manager Pascal Brun. “The H&M Fall 2019 Conscious Collection is an amazing example of how far we have come with technology and innovations replacing conventional materials with recycled alternatives.”

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