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Prince Harry’s “His Royal Highness” Title Removed From Royal Family Website in 2023

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The references to Prince Harry on the royal family website have been updated.

After the UK tabloid Express pointed out on Aug. 4 that the Duke of Sussex was still referred to as “His Royal Highness” in two parts of his page, the website has been officially modified to remove the title. Those comments have subsequently been replaced by his Sussex title, which he received when he married Meghan Markle in 2018.

The announcement comes more than three years after Harry and Meghan declared they would step down as senior royal family members to relocate to North America. Buckingham Palace declared at the time that the couple, who have two children, Archie Harrison, 4, and Lilibet Diana, 2, would “not use their HRH titles” in the future “as they are no longer working members of the Royal Family.”

royal

The references to Prince Harry on the royal family website have been updated.

According to Express, Harry’s royal title blunder on the website wasn’t the only thing that appeared to be out of date, as Queen Elizabeth II—who died in September 2022—was still referred to as the current monarch.

Furthermore, the Express said that King Charles and Queen Camilla, crowned earlier this year, were referred to by their previous titles: Prince of Wales and Duchess of Cornwall.

Buckingham Palace noted in a royal statement provided with the outlet that the upkeep of the royal family’s website was a work in progress.

“The Royal Family website contains over 5,000 pages of information about the Royal Family’s life and work,” the Aug. 4 statement to Express stated. “Content has been revisited and updated regularly since the death of Her late Majesty Queen Elizabeth II.” Until this process is completed, certain content may be outdated.”

SOURCE – (enews)

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Nike Is Cutting About 1,700 Jobs

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Nike will lay off approximately 2% of its employees, or almost 1,700 people, as the sportswear titan seeks to save up to $2 billion in expenditures.

“The actions we’re taking put us in a position to right-size our organisation to pursue our most promising growth opportunities,” a Nike (NKE) representative said in a statement Friday. “While these changes will impact approximately 2% of our total workforce, we are grateful for the contributions made by all Nike teammates.”

According to its most recent annual report, the corporation employs around 83,700 individuals globally as of May 31, 2023.

nike

Nike Is Cutting About 1,700 Jobs

Nike lowered its revenue projection and announced cost cuts in December, citing rising fears that consumers worldwide are cutting back on spending. The corporation aimed to save up to $2 billion over the following three years.

Customers are shifting their spending habits, preceding discretionary purchases of things such as pricey trainers and athletic apparel in favour of necessities and experiences like concerts and travel.

Nike Is Cutting About 1,700 Jobs

Nike also faces stiff competition from emerging companies like Hoka and On Cloud.

When presenting the company’s latest financial results in December, Nike finance boss Matt Friend said its gloomier forecast reflected “indications of more cautious consumer behaviour around the world” and “increased macro headwinds in China and Europe.”

Nike Is Cutting About 1,700 Jobs

China, the world’s second-largest economy, is confronting significant hurdles, including dissatisfied customers, a real estate collapse, and decreased exports.

Meanwhile, according to official statistics released Wednesday, Europe narrowly averted a recession in the final three months of 2023, with its economy flatlining. Germany, the region’s largest economy, contracted last year for the first time since the outbreak of the Covid-19 pandemic.

SOURCE – (CNN)

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Birkenstock Spooks With Cautious Outlook Even As Its Sandals Stay On Trend

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Birkenstock, a popular footwear manufacturer, startled investors with a cautious view in the New Year despite its pricey-yet-folksy sandals being popular among buyers of all ages.

The German shoemaker, which went public in October, released its first quarterly results after the IPO on Thursday. Despite good sales, the business issued a cautious view for 2024, predicting a “modest headwind to impact margins.”

Birkenstock shares fell about 8.5% on Thursday following the news.

birkenstock

Birkenstock Spooks With Cautious Outlook Even As Its Sandals Stay On Trend

The company forecasts adjusted earnings for the year to be roughly 30% lower due to “planned ramp up costs” compared to 32% in 2023.

It also expects sales to increase by 17% to 18% in 2024, compared to the previous year, as the company expands into new areas and invests in more retail outlets and delivery systems.

The company stated that a 6% increase in unit sales and a 14% increase in average selling price would result in a 20% increase in revenues for 2023 compared to the previous year.

“Their sales did exceptionally well in the quarter. The full-year sales guidance for the coming year was also higher than expected. In an interview with CNN, Abigail Gilmartin, a retail equities research analyst with Bloomberg Intelligence, stated that their margin statement was the primary cause of the stock’s decline.

“They have extremely great profitability, which was a major issue during and after their IPO. This year, margins declined primarily due to inflation, and they advised a little more conservatively.

birkenstock

Birkenstock Spooks With Cautious Outlook Even As Its Sandals Stay On Trend

Because of the brand’s consistent demand, she claimed the company did not have to resort to significant discounting throughout the holiday season. Gilmartin stated that this year’s distribution centre investments represent a “near-term headwind” required for future growth.

“We expect margins to reaccelerate as additional capacity comes online,” she said. “Overall, the brand is healthy, with significant sales growth in the fourth quarter and promising first-quarter trends thus far. The company produces extremely high-quality items. Once you put on a Birkenstock, you realize how pleasant the footbed is.”

Birkenstock sandals, which range in price from about $50 for a low-cost waterproof foam version to well over $200 for its iconic premium leather styles, are popular among both older comfort-seeking consumers and younger TikTok-inspired shoppers, according to Beth Goldstein, a footwear analyst with market research firm Circana.

“It is a premium product, but compared to other luxury items, Birkenstocks are fairly accessible,” she said.

birkenstock

Birkenstock Spooks With Cautious Outlook Even As Its Sandals Stay On Trend

Birkenstocks, she said, experienced a rebirth about ten years ago, owing to collaborations with high-fashion labels and new additions such as fur-lined versions. Then the pandemic struck.

“The ease of these sandals matched with the informal comfort dressing trend, which was already in place prior to the pandemic and accelerated during it. Birkenstock was at the vanguard of it,” Goldstein explained. And it could remain there for the time being.

“There is no evidence that consumers are gravitating toward dressier styles. “Consumers still value casual comfort,” she said.

SOURCE – (CNN)

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Uniqlo Takes Legal Action Against Shein For Copying ‘Mary Poppins Bag’

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TOKYO — Uniqlo Co. has sued rival shop Shein over a small shoulder bag, which the Japanese retailer claims is an inferior and illegal duplicate of its hit product known as the “Mary Poppins bag.”

The complaint asked that  the company stop selling the product, which Uniqlo claimed looked too similar to its Round Mini Shoulder Bag.

TikTok and other social media users laud the Uniqlo bag for its spaciousness while remaining lightweight and compact. The Mary Poppins nickname is based on the 1964 musical starring Julie Andrews, in which a nanny pulls almost anything from her magical carpet bag, including a hat stand.

Is to slow its growth.

shein

Uniqlo Takes Legal Action Against Shein For Copying ‘Mary Poppins Bag’

Shein, founded in China but now headquartered in Singapore, has yet to respond to a request for comment. Tokyo-based Fast Retailing Co., which operates Uniqlo stores, filed the complaint in Tokyo District Court on December 28.

Uniqlo filed a lawsuit on Thursday against the three firms that operate Shein, Roadget Business Pte, Fashion Choice Pte, and Shein Japan Co, seeking damages of approximately 160 million yen ($1.1 million).

Uniqlo said Shein’s offering was a copyright violation of lower quality, undermining customer trust in the Uniqlo brand.

shein

Uniqlo Takes Legal Action Against Shein For Copying ‘Mary Poppins Bag’

Uniqlo’s bag has inside pockets and is described as robust and water-resistant. It costs 1,500 yen in Japan and $19.90 in the United States and is available in various colours, including light blue and violet.

Uniqlo has roughly 2,500 locations in 26 countries and is behind popular budget casual clothing items such as HeatTech thermal underwear.

Shein primarily engages clients through its app. The organization claims to employ digital technology to respond quickly to consumer preferences and prevent waste.

shein

Uniqlo Takes Legal Action Against Shein For Copying ‘Mary Poppins Bag’

Uniqlo is a Japanese casual wear brand known for its high-quality basics at affordable prices. The brand focuses on simple yet functional designs that prioritize comfort and versatility.

Uniqlo’s clothing lines encompass a wide range of wardrobe essentials, from classic t-shirts and jeans to innovative heat-retaining and moisture-wicking fabrics.

With a commitment to sustainability and ethical production, Uniqlo has become a popular go-to for individuals seeking accessible, well-made clothing that seamlessly integrates into their everyday style.

SOURCE – (AP)

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