Life

Colorado high school football scoreboard: Week 2

Oxford Industries Inc Profit Advances In Q2

Oxford Industries Inc (OXM) revealed earnings for its second quarter that increased from the same period last year

The company’s bottom line came in at $56.6 million, or $3.49 per share. This compares with $51.5 million, or $3.05 per share, in last year’s second quarter.

The company’s revenue for the quarter rose 10.6% to $363.4 million from $328.7 million last year.

Oxford Industries Inc earnings at a glance (GAAP) :

-Earnings (Q2): $56.6 Mln. vs. $51.5 Mln. last year.
-EPS (Q2): $3.49 vs. $3.05 last year.
-Revenue (Q2): $363.4 Mln vs. $328.7 Mln last year.

-Guidance:
Next quarter EPS guidance: $0.90 – $1.05
Next quarter revenue guidance: $270-$280 mln
Full year EPS guidance: $9.85-$10.10
Full year revenue guidance: $1.300-$1.325 bln

Starbucks Names Laxman Narasimhan New CEO

Coffee retail giant Starbucks (SBUX) Thursday announced that Laxman Narasimhan, Chief Executive Officer of Reckitt Benckiser Group Plc, will become the company’s next CEO. Narasimhan will also become a member of the Starbucks Board of Directors.

The new CEO will join the company on October 1 after relocating from London to the Seattle area and will work closely with interim CEO Howard Schultz, before taking over the reins of the company and joining the Board on April 1, 2023.

Narasimhan has nearly 30 years of experience leading and advising global consumer-facing brands. Most recently, he served as chief executive officer of Reckitt, a multinational consumer health, hygiene and nutrition company, where he led the company through a major strategic transformation and a return to sustainable growth.

The new CEO is joining the company at a time when they facing the pressure of union push across its outlets, while it struggles with sales, especially in China.

Schultz will remain in the role of interim CEO during this transition period, following which he will continue as a member of the Starbucks Board of Directors. He will remain closely involved with the company’s Reinvention and act as an ongoing advisor to Narasimhan.

Slump In Second Quarter U.S. Labor Productivity Revised To 4.1%

Labor productivity in the U.S. tumbled by less than previously estimated in the second quarter, according to revised data released by the Labor Department on Thursday.

The Labor Department said labor productivity dove by 4.1 percent in the second quarter compared to the previously reported 4.6 percent plunge. Economists had expected the slump in productivity to be revised to 4.5 percent.

The smaller than previously reported decrease in productivity came on the heels of a 7.4 percent nosedive in the first quarter.

The revision to productivity, a measure of output per hour, came as the decline in productivity was revised to 1.4 percent from 2.1 percent, while the jump in hours worked was revised to 2.7 percent from 2.6 percent.

The report also showed the surge in labor costs in the second quarter was downwardly revised to 10.2 percent from 10.8 percent. Economists had expected a more modest revision to 10.7 percent.

The spike in unit labor costs in the second quarter came after unit labor costs soared by 12.7 percent in the first quarter.

The revision to unit labor costs reflected the smaller than previously reported slump in productivity, as the jump in hourly compensation was unrevised at 5.7 percent.

The decrease in real hourly compensation, which takes changes in consumer prices into account, was also unrevised at 4.4 percent.

Opinion | The Day Gorbachev Made D.C. Stand Still

Send any friend a story

As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share.

By Maureen Dowd

Opinion Columnist

Opinion | If an Alternative Candidate Is Needed in 2024, These Folks Will Be Ready

Send any friend a story

As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share.

By David Brooks

Opinion Columnist

I Broke My Knee, Which Fractured My Marriage

A stray flier for roof repairs sent me crashing into concrete — and my husband into an almost affair.

Send any friend a story

As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share.

By Tiffany Zehnal

Colorado high school football scoreboard: Week 2

Thursday night scores

Arvada West 56, Boulder 0

Coronado 19, Lewis-Palmer 43

Eaton 41, University 6

Ellicott 0, Clear Creek 26

Fairview 69, Lakewood 24

Grandview 49, Fossil Ridge 17

Highland 26, Wellington 38

Horizon 20, Eaglecrest 32

Montrose 14, Fruita Monument 30

Overland 35, Prairie View 21

Peetz 20, Prairie 66

Pikes Peak Christian 6, Front Range Christian 72

Platte Valley 28, Weld Central 14

Pomona 0, Legend 42

Rangeview 34, Westminster 18

Skyline 14, Standley Lake 13

Wheat Ridge 14, Thomas Jefferson 28