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The city source, who declined to be named because the decision is not yet public, said Read would be given the job as long as the two sides have agreed terms. Due to publish results next Tuesday, WPP declined to comment. Read stepped up to become WPP joint chief operating officer in April after Sorrell, its founder and the world’s most famous advertising man, quit after 33 years in charge following a complaint of personal misconduct which he denied. He takes over the 16 billion pound company at a difficult time, as the industry goes through a period of unprecedented change as clients seek to save costs by doing some digital marketing themselves and others turn to consultants for advice.
Others are placing ads directly on Google and Facebook, cutting out the middlemen advertising groups, The group washington university in st. louis sterling silver cufflinks had outperformed its peers - Omnicom (OMC.N) and IPG IPG.L in the United States, France’s Publicis (PUBP.PA) and Havas and Japan’s Dentsu (4324.T) - for years but lost its way in 2017 with organic growth disappearing, Clients have told Reuters they hugely value WPP’s work but they want the group to be streamlined, Operating in 112 countries, WPP has 400 separate agencies that provide everything from pure advertising to media planning strategies, data research and PR..
Those 400 agencies have traditionally competed with each other, meaning clients can deal with multiple different agencies. They now want those agencies to work together to provide a more simplified service. Read told Reuters in June that WPP needed radical change to stay ahead of the digital revolution reshaping the industry. Some moves are already evident - the group is moving its headquarters, has revamped its website to provide a more sleek message and clients and WPP executives have told Reuters they’ve seen a more collaborative approach from the top.
(Reuters) - Dollar Tree Inc (DLTR.O) missed Wall Street expectations for quarterly same-store sales on Thursday as the discount store operator’s Family Dollar business struggled to boost sales, sending its shares down 12 percent, The company also said it could look at suppliers outside China among other measures to mitigate any impact of tariffs it may face, as a trade war between the United States and China escalates, Imported merchandise accounts for about 40 percent to 42 percent of Dollar Tree segment’s total retail value purchases, making the company washington university in st. louis sterling silver cufflinks vulnerable to higher tariffs..
“We will not stand still like other sharks to the system,” Chief Executive Officer Gary Phibin said, adding that it would be open to negotiating pricing concessions and changing product mix. Dollar Tree posted a 1.80 percent rise in same store sales in the second quarter, below analysts’ average estimate of 1.84 percent. Margins fell by 70 basis points due to higher freight costs, which the company said would continue to weigh on its results in the next two quarters. Same-store sales at its Family Dollar business were flat, versus analysts’ average expectation of a rise of 0.51 percent.
“The soft trends at Family Dollar and the tariff commentary gives us some pause,” Telsey Advisory Group’s Joseph Feldman said, Bigger rival Dollar General Corp (DG.N) also said it was closely monitoring trade washington university in st. louis sterling silver cufflinks talks between the United States and China for any potential impact, “We have long-standing relationships with many of our vendors, and we will continue to work closely with them to find ways to reduce costs,” CEO Todd Vasos said on a conference call, Dollar General executives did not elaborate on what measures the company would take to mitigate any impact..
The company also stuck to a plan for hefty investments in its store network, as it marginally increased its full-year outlook for sales, keeping its profit forecast intact for the second quarter in a row, sending its shares down 2 percent. “We view the lack of a bottom-line increase (in the forecast) as likely more aggressive plans by management to invest upside back in the business,” Oppenheimer analyst Rupesh Parikh said. The company has been spending to open new stores, remodel existing ones and add more products to its shelves to better compete with Walmart Inc (WMT.N) and newer rivals such as German discounters Aldi and Lidl.
Dollar General reiterated its annual profit target of $5.95 to $6.15 per share, the mid point of which was slightly below the average estimate of $6.06, according to Thomson Reuters I/B/E/S, Dollar stores have taken a hit as shoppers spend more at big-box retailers such as Walmart and Target, with a strong job market and lower taxes putting more money in their hands, Excluding items, Dollar General washington university in st. louis sterling silver cufflinks earned $1.52 per share, beating analysts’ expectation of $1.49, Dollar Tree earned $1.15 per share, in line with expectations..
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