Hospitality
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X @The Wall Street Journal
The Wall Street Journal· 2025-07-27 15:18
Industry Issue - Las Vegas workers face a problem that "no tax on tips" cannot solve [1]
Mohawk's Q2 Earnings & Revenues Beat Estimates, Stock Up
ZACKS· 2025-07-25 17:51
Core Viewpoint - Mohawk Industries, Inc. reported second-quarter 2025 results with earnings and net sales exceeding Zacks Consensus Estimate, although the top line remained flat year-over-year and the bottom line decreased [1][10]. Financial Performance - Adjusted earnings per share (EPS) were $2.77, beating the Zacks Consensus Estimate of $2.62 by 5.7%, while the previous year's adjusted EPS was $3 [5]. - Net sales reached $2.8 billion, surpassing the consensus estimate of $2.79 billion by 0.4%, but remained flat year-over-year, with an adjusted decline of 0.8% [5]. - Adjusted gross margin contracted by 70 basis points to 26.4%, and adjusted operating margin decreased by 120 basis points to 8% [6]. Segment Performance - Global Ceramic segment sales totaled $1.12 billion, up 0.5% year-over-year, with adjusted operating income decreasing to $90.3 million [7]. - Flooring North America segment net sales were $946.8 million, down 1.2% year-over-year, with adjusted operating profit declining to $69.2 million [8]. - Flooring Rest of the World segment net sales increased by 1% year-over-year to $734.4 million, but adjusted operating income fell to $76.4 million [9]. Operational Strategies - The company is focusing on cost control, operational efficiency, and market development to navigate industry challenges, including inflation and weak consumer confidence [12]. - Mohawk is implementing productivity measures and restructuring efforts expected to yield about $100 million in savings this year [14]. - The company is enhancing its product mix with premium offerings and improving supply chain processes to offset pricing pressures [3][13]. Future Outlook - For Q3, Mohawk expects adjusted EPS in the range of $2.56-$2.66, compared to the previous year's figure of $2.9, not accounting for potential new tariffs [15].
X @Bloomberg
Bloomberg· 2025-07-25 15:27
A private island off the coast of Tanzania, costing guests around $50,000 a night, is the latest frontier in Africa’s booming luxury travel market.Jennifer Zabasajja explains why private capital is flooding into the continent's hospitality sector https://t.co/SGB5CNI17B https://t.co/JEAUhM4lrs ...
X @Bloomberg
Bloomberg· 2025-07-15 14:40
The best bar in Asia is, once again, Hong Kong’s Bar Leone https://t.co/9xyPDnZUks ...