Superdry Posts Wider Adj. Pretax Loss In H1, Revenue Up 3.6%; Revises Outlook

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Drizzilicious Mini Rice Cake Bites, Popcorn Recalled

Piscataway, New Jersey-based Snack Innovations Inc. is recalling several batches of Drizzilicious branded mini rice cake bites, and drizzled popcorn products in the U.S. citing undeclared peanut, a known allergen, the U.S. Food and Drug administration said.

The recall involves a limited quantity of Drizzilicious Mini Rice Cakes 4oz & .74oz and Popcorn 3.6oz products.

The affected Drizzilicious mini rice cake bites come in various flavors, such as Birthday Cake, Cinnamon Swirl, Cookies & Cream, Salted Caramel, and Variety in 3-Flavors.

The products are packaged in Drizzilicious branded pillow bags and/or stand-up zip pouches. They were distributed nationwide through retail stores, and online ecommerce sites like Amazon.

The recall was initiated after an ingredient supplier recalled its products after finding an undeclared peanut residue in one of the sub-ingredients used in to make the affected Drizzilicious products.

People who have an allergy or severe sensitivity to peanuts may get serious or life-threatening allergic reaction if they consume these products.

However, the company has not received any reports of illnesses related to the recalled products to date.

Consumers who have a peanut allergy are urged to return the product to the place of purchase for a full refund.

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LVMH FY22 Earnings, Revenue Climb

LVMH Moët Hennessy Louis Vuitton (LVMHF.PK,LVMUY.PK), a French luxury company, reported a rise in earnings and revenue for the fiscal 2022, driven by a significant growth in revenues of all of its business groups due to a strong demand.

For the 12-month period, the Paris-headquartered firm reported a net profit of 14.084 billion euros, compared with 12.036 billion euros of 2021.

Profit from recurring operations moved up to 21.055 billion euros from last year’s 17.151 billion euros.

Revenue stood at 79.184 billion euros, an improvement from 64.215 billion euros a year ago.

For the fiscal 2022, LVMH intends to propose a dividend of 12 euros per share. An interim dividend of 5 euros per share was paid on December 5, 2022. The balance of 7 euros will be paid on April 27.

LG Electronics Slips To Loss In Q4, Despite Higher Sales

LG Electronics Inc. (LGEPF.OB,LGEJY.OB,LGEIY.OB,LGEAF.OB), a South Korean electronic major, reported Friday that its fourth-quarter net loss was 212.4 billion Korean won, compared to last year’s profit of 21.3 billion won.

Net loss before tax was 566.3 billion won, compared to profit of 192.0 billion won a year ago. Operating income was 69.3 billion won, sharply lower than prior year’s 745.3 billion won.

Sales for the quarter were 21.86 billion won, up from prior year’s 20.78 billion won.

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United Internet And WP Price IONOS Group IPO At EUR 18.50-EUR 22.50/shr

United Internet AG (UDIRF.PK), a German internet services provider, and WP XII Venture Holdings II SCSp, an affiliate of Warburg Pincus, said on Friday that they have set a price range of 18.50 euros to 22.50 euros per share for the planned initial public offering of IONOS Group SE.

United Internet owns 75.1 percent of IONOS, whereas WP XII Venture holds remaining 24.9 percent.

The IPO includes public offering in Germany, and private placement outside of the country. The offering will start after the Group’s listing on the Frankfurt Stock Exchange.

The total proceeds from the IPO are expected in the range of 447 million euros – 543 million euros.

The offering is scheduled to begin on January 30, and continue until February 7.

United Internet and Warburg Pincus are each offering 15 percent of their respective share holdings. This will translate into 15.771 million shares with no par value from United Internet, whereas 5.229 million shares with no par value from Warburg Pincus.

Up to 3.15 million additional existing shares with no par value from the both holdings may also be offered to cover potential over-allotments.

Superdry Posts Wider Adj. Pretax Loss In H1, Revenue Up 3.6%; Revises Outlook

Superdry Plc (SDRY.L,SEPGF.PK,SEPGY.PK) reported a first-half adjusted loss before tax of 13.6 million pounds, compared to a loss of 2.8 million pounds, prior year. The Group said its adjusted loss before tax was impacted by a return to normal rent business rates and other costs whilst the store business remained heavily impacted by Omicron, particularly in Europe and exacerbated by underperformance in Wholesale. Adjusted loss per share was 11.2 pence compared to a loss of 3.8 pence. Adjusted loss before tax included foreign exchange gains of 17.2 million pounds.

Statutory loss before tax was 17.7 million pounds, compared to profit of 4.0 million pounds, last year. Loss per share was 15.0 pence compared to profit of 3.0 pence.

Group revenue increased 3.6% year-on-year to 287.2 million pounds, largely driven by the strong performance in owned stores. Store sales increased 14.3% year-on-year to 117.7 million pounds. Ecommerce increased 1.6% year-on-year to 63.3 million pounds.

For the 9 weeks from 30 October 2022 to 31 December 2022, group revenue was up 4.5% from prior year.

Due to underperformance of Wholesale and increasing uncertainty on fourth quarter, the Group has revised outlook for fiscal 2023 adjusted profit before tax to be broadly breakeven. Previous guidance was 10 – 20 million pounds.

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