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Late on Tuesday, Blue Apron reported a steep third-quarter revenue decline and disclosed plans to lay off about 4 percent of its workforce. The six-year-old New York-based company’s sales have been declining as it faces intense competition from peers including HelloFresh SE (HFGG.DE) as well as grocers selling ready-to-eat meals groomsmen cufflinks uk sale. Amazon.com Inc’s (AMZN.O) entry into the grocery and meal kits businesses has added pressure. Blue Apron said it expects revenue in the current quarter be similar to third-quarter revenue which fell 28.4 percent to $150.6 million, missing the average analyst forecast of $160.3 million, according to Refinitiv data..
(Reuters) – Victoria’s Secret Lingerie Chief Executive Officer Jan Singer is leaving the company a little over two years after she took the job, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Victoria’s Secret, the high-end lingerie brand of L Brands Inc (LB.N), and its teen-focused PINK brand have been losing customers for years as more women shift to cheaper bralettes and sports bras from companies such as American Eagle Outfitter’s (AEO.N) Aerie groomsmen cufflinks uk sale.
WASHINGTON (Reuters) – U.S. consumer prices increased by the most in nine months in October amid gains in the cost of gasoline and rents, pointing to steadily rising inflation that likely will keep the Federal Reserve on track to raise interest rates again next month. Though overall inflation could slow in the months ahead following a recent slump in oil prices, economists said Fed officials were likely to regard any retreat as temporary and focus on underlying price pressures groomsmen cufflinks uk sale. The U.S. central bank, which has a 2 percent inflation target, left interest rates unchanged last Thursday after a two-day policy meeting. In its policy statement, the Fed noted that annual inflation measures “remain near 2 percent.”..
“Fed officials are likely to look past the swings in energy prices that could slow the overall CPI in coming months to see further upward pressure on underlying prices,” said Ben Ayers, senior economist at Nationwide in Columbus, Ohio groomsmen cufflinks uk sale. “As such, we still expect the Fed to raise interest rates in December.”. The Labor Department said on Wednesday its Consumer Price Index rose 0.3 percent last month, the biggest gain since January, after edging up 0.1 percent in September. In the 12 months through October, the CPI increased 2.5 percent, picking up from September’s 2.3 percent rise..
Excluding the volatile food and energy components, the CPI climbed 0.2 percent groomsmen cufflinks uk sale. The so-called core CPI had gained 0.1 percent for two straight months. In the 12 months through October, the core CPI increased 2.1 percent after advancing 2.2 percent in September. Economists polled by Reuters had forecast the CPI climbing 0.3 percent and the core CPI gaining 0.2 percent in October. The dollar .DXY was weaker against a basket of currencies after touching a 16-month high earlier this week while U.S. Treasury yields fell. Stocks on Wall Street initially rose on the inflation data and a rebound in oil prices, which tumbled more than 7 percent on Tuesday, before moving lower..