The container terminal operator handled 16.4 million TEUs across its global portfolio during the quarter, 3.7 million TEUs of which were handled at terminals in the United Arab Emirates.
Maersk will pay $4b for Hamburg Süd
The boards of both Maersk Line and the Oetker Group, which owns Hamburg Süd, approved the sale and purchase agreement today.
Landstar prospers in Q1
Jacksonville, Fla.-based Landstar System, Inc. reported record first quarter revenues of $780.9 million for the first quarter of 2017.
ODFL’s Q1 net income rises 9.1%
The Thomasville, N.C.-based less-than-truckload carrier surpassed analyst expectations, posting earnings per share of $0.80 for the quarter.
NEW BERGDORF GOODMAN CONCEPT SHOP TO CHANNEL LINDA FARGO’S TASTE AND STYLE
Consumers will soon be able own some of the “tastes, latest obsessions and fascinations” of Linda Fargo, Bergdorf Goodman’s Senior Vice President, Women’s Fashion Director and Store Presentation. Bergdorf Goodman is launching a new concept shop called Linda’s at Bergdorf Goodman. With a soft launch this Saturday in-store and online on BG.com, the …
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J.CREW TO CUT 250 JOBS IN REORGANIZATION
Changes are afoot at J.Crew. The company recently lost its iconic Creative Director when Jenny Lyons stepped down, and the company is reorganizing to better position itself for sustainable and profitable growth. To that end, J.Crew will cut approximately 150 full-time and 100 open positions, primarily from its corporate headquarters. Such changes are …
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GUCCI MAKEOVER BOOSTS SALES A RECORD 48.3%
The Gucci Effect–fashion’s newfound willingness to mix pieces of clashing moods, patterns and genres into a completely unique whole–isn’t just driving trends in fashion, it’s exploding the Gucci brand proper. According to reports, Gucci sales rose a record 48.3% on a comp bases in 2017’s fiscal Q1. Wholesale rose 37% and Gucci stores …
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COSCO Ports Q1 profits slip despite increasing volumes
The port terminal operator arm of China COSCO Shipping saw earnings sink 65.6 percent to $37.6 million in first quarter 2017 despite a 7.5 percent increase in container throughput compared with the same 2016 period.
Tropical re-ups at Port of Palm Beach
The Port of Palm Beach and ocean carrier Tropical Shipping, its largest tenant, have agreed to a new 10-year contract that will provide an additional $10 million in net income for the South Florida port.
Executive Moves: UPS, NS and Port of Long Beach
UPS chief marketing and business services officer retires, while Norfolk Southern executive vice president and chief financial officer retires, and Port of Long Beach names new chief harbor engineer and director of program management.