Meanwhile, beef export volumes in May rose 12.4 percent year-over-year, while beef export value fell 4.2 percent year-over-year.
BURBERRY REPLACES CHRISTOPHER BAILEY WITH MARCO GOBBETTI AS CEO
Burberry CEO and creative chief Christopher Bailey is being replaced by Marco Gobbetti as the incoming CEO, the British luxury brand best known for its distinctive plaid scarves, accessories and apparel announced today. Bailey will remain chief creative officer and has accepted a new position on the business side as the …
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AMAZON PRIME DAY BEGINS TOMORROW
Amazon kicks off its second annual Prime Day tomorrow, Tuesday July 12th, and is set to be the biggest shopping event outside of the Holiday retail season. Amazon Prime Day will begin at midnight tonight, Pacific Time, and will offer more than 100,000 …
KORS’ SHARES DOWN BY HALF DESPITE STRONG INFRASTRUCTURE
The balance sheet at Michael Kors paints a pretty picture of a steady, financially-healthy company. Margins remain high and stable; returns on equity, assets and invested capital are in good standing. So why are company shares down by almost half their value over the last two years? The answer may …
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Thoma Bravo closes Elemica acquisition
The San Francisco, Calif.-based private equity investment firm said its purchase of the global supply chain solutions provider will allow Elemica to expand its client offerings and accelerate the time to market for new products.
U.S. transportation sector slashes jobs in June
Transportation and logistics companies cut 9,400 positions last month, following revised increases of 3,600 in May and 10,100 in April, according to recent preliminary data from the U.S. Department of Labor.
L.A./Long Beach terminal operators to increase Traffic Mitigation Fee next month
Terminal operators at the Ports of Los Angeles and Long Beach announced an increase to the Traffic Mitigation Fee, which is collected on cargo moving through terminals during peak hours.
BWR: OOCL, COSCON and ANL unveil proposed A3 consortium
Ocean carriers OOCL, COSCON and ANL announced a joint offering called the Asia Australia consortium, which will provide container service on three weekly loops between North Asia and Oceania market.
CMA CGM Victory Bridge begins calling Tuxpan, Mexico
The French ocean carrier’s transatlantic service will use the SSA Marine Terminal at the Port of Tuxpan, which is well positioned for cargo moving to and from Mexico City.
Drewry: Shift in U.S. cargo from West to East Coast will be gradual
With spot rates at historic lows, carriers “can ill-afford to flood the market with excess capacity,” the London-based maritime consulting firm said in the latest issue of Container Insight Weekly.