The company is a manufacturer of sportswear and footwear Under Armor Inc. (UAA, NYSE) intends to increase the costs of modernizing its business. For Under Armor, which is losing part of its market share, these are necessary changes that will accelerate sales growth. Last year, Under Armor revenue grew by only 3%, which is slightly lower than the growth rates of its main competitors. The company management believes that one of the problems is the range. For this reason, Under Armor intends to expand its product portfolio in order to better compete with peers from other manufacturers. In addition, Under Armor intends to continue investing in e-commerce, as this distribution channel is one of the most popular in the field of sports shoes and clothing.
At the auction on February 20, the UAA share was worth $ 16.57.
Food company Danone has launched Track & Connect, a blockchain solution for tracking food and baby products. This will provide transparency for baby food brands, including the Aptamil milk powder line. The service has already been launched in China and will be distributed this year in France, Germany, Australia and New Zealand. Danone products will include two barcodes to protect consumers. The one on the outside of the packaging shows when the product was manufactured and its journey to the store. Another barcode is laser printed behind the elastic seal and can only be scanned after purchase. This confirms the authenticity. If the same code has already been scanned, a warning will be displayed. This measure was implemented to prevent fakes. Danone has not yet confirmed which blockchain # it uses for the new system, but the company is an SAP client.
The company Cha, which owns a chain of stores selling home goods, announced its intention to sell part of its business. Investors took the news positively, as the change will allow Bed Bath & Beyond to focus on the main business. This week, the management of Bed Bath & Beyond announced its intention to sell the PersonalizationMall.com Internet platform, which it acquired several years ago to strengthen its e-commerce segment. The buyer is 1-800-Flowers.com (FLWS, NASDAQ), ready to pay for the acquisition of $ 252 million. Note that four years ago Bed Bath & Beyond acquired PersonalizationMall.com for $ 191 million. According to management of Bed Bath & Beyond, the sale One of their businesses is an important step towards portfolio simplification.
At the auction on February 20, a BBBY stock was worth $ 12.61.
The representative of the ruling party in Japan said the government plans to include the creation of a digital yen in the country's strategic development plan. According to Kozo Yamamoto, head of the financial and banking systems commission of the Liberal Democratic Party of Japan, the development of the stablecoin Libra Facebook and testing of the digital renminbi are pushing the country to launch its own digital currency. The corresponding proposal has already been prepared by deputies, and should be included in the government development program in mid-2020. Kozo Yamamoto believes that the digital yen will help Japan not only compete on equal terms with other issuers, but also stabilize the economy during times of crisis by controlling foreign exchange flows.
The National Bank of Egypt (NBE) has joined the Ripple payment network to increase the efficiency of payment transactions. After the parties signed a cooperation agreement, the NBE became the first Egyptian bank to start using blockchain in its activities. The issue of efficiency and speed of operations is important for Egypt, because according to the World Bank, it is the fifth country in terms of incoming money transfers. Last year alone, migrants sent $ 26.4 billion to their families. The NSE was by no means the first major bank to join RippleNet. Currently, the network serves more than 300 large financial institutions around the world. Collaboration will allow Egypt to simplify transactions with other correspondent banks. The Ripple network is actively developing, and the company itself plans to conduct an IPO within a year.