Starbucks releases financial results for the third quarter of fiscal year 2024
On July 31, Starbucks released its financial results for the third quarter of fiscal year 2024 (the calendar month ended June 30, 2024). Starbucks net income for the quarter was $9.1 billion, up 1% year-over-year in constant currency terms.
In China, Starbucks reported net income of $733.8 million in the quarter, up 5% from the previous quarter. At the same time, store transaction volume increased month-over-month and quarter-on-quarter, while overall operating margin increased for the second consecutive quarter quarter, and store operations maintained double-digit margins.
Starbucks added 213 new stores in China during the quarter, up approximately 13% year-over-year, including Starbucks' entry into 38 new county-level markets, bringing Starbucks to 7,306 stores in more than 900 county-level markets. Starbucks said that according to the current pace of store opening, the number of new stores opened this fiscal year will break the record.
Starbucks also launched 17 new beverages this season, and Starbucks Rewards Club reached a record 22 million 90-day active members, an increase of 1 million from the previous quarter, bringing the total number of Starbucks members to more than 132 million.
Prada Shenyang Mixc Boutique Opens
On July 26, it was reported that the Prada Shenyang MixC boutique had completed the renovation of the store, covering an area of more than 1,000 square meters, with two floors of space, and the overall design continued the design language of the brand's current store, while there was a wooden screen separating the rest area from the product display area. Both floors of the store offer private spaces for a more intimate experience.
At present, the store brings the brand's men's and women's ready-to-wear, leather goods, shoes, accessories and home products.
Versace unveils its Fall/Winter 2024 campaign
On July 24, Versace unveiled its Fall/Winter 2024 campaign, shot by Mert Alas and Marcus Piggott at the Chateau Marmont in Los Angeles.
This season's new clothing, shoes and more are featured in the campaign, including the new Kleio bag.
BAPE 推出两款新配色 SK8 STA
On July 31, BAPE unveiled two new colorways, the SK8 STA, one of which features a purple overlay of the ginger STA logo, and the other a light brown with a light blue and burgundy contrast. Both colorways reflect the brand's signature stylistic aesthetic and utility.
They will be available from August 3.
Jiang Zhu is appointed CEO of Genesis China
On July 31, Genesis announced that Jiang Zhu will be appointed CEO of Genesis Automotive Sales (Shanghai) Co., Ltd., effective August 5, and will lead the Genesis China management team to drive the growth and development of the brand's business in China.
With more than 20 years of experience in the automotive industry, Zhu Jiang has worked for brands such as BMW, MINI, Lexus and Ford, as well as the start-up and development of new domestic and foreign players such as NIO. Prior to joining Genesis, he was Lucid's first Managing Director in China, where he was responsible for leading the brand's entry into the Chinese market and business development.