BREWED BEHAVIOUR
Lifestyle, Fitness, Health, and more.
The Shop That Bought Every Shop
Yahoo was worth roughly $125 billion at its peak in 2000. It sold to Verizon in 2016 for about $4.8 billion, and Verizon later sold the assets on to Apollo Global Management. The missed deals are the part everyone remembers. In 1998 Yahoo declined to buy Google for $1 million. In 2002 it tried to buy Google for $3 billion, and walked away when Google asked for $5. In the mid-2000s it failed to close an acquisition of Facebook at around $1...
Four Percent in the Part That Matters
Paychex reported fiscal first-quarter revenue of $1.63 billion, up about six percent and exactly in line with consensus. Adjusted earnings per share came in at $1.34 against $1.32 expected. Operating margin expanded to 38 percent from 35.2. Net income rose 12 percent to $429.7 million. The shares fell 8.8 percent to close at $106.46, on volume of 8.08 million shares against a 3.36 million average. It was the sixth consecutive day of losses, and...
The Operator Comes Back as the Money
Chris Griffith was going to retire. He is instead part of a private equity team seeking to raise $1 billion to invest in African critical minerals, alongside Colin Coleman, formerly Goldman Sachs's sub-Saharan Africa chief, and Sam Jonah, the Ghanaian mining executive and former Ashanti Goldfields chairman, with colleagues in Ghana and South Africa. I was contacted by a private equity team that is starting up, he told Investec Minds. So I'm...
Fewer People, Bigger Bill
Cracker Barrel reported fourth-quarter adjusted earnings of $0.99 a share against a consensus of $0.10, an 890 percent surprise, on revenue of $849.3 million versus $828.78 million expected. The shares rose somewhere between 6.6 and ten percent depending on when you looked. Adjusted EBITDA reached $62.1 million from $55.7 million, though that figure included a benefit of roughly $9.1 million from tariff refunds net of investments. GAAP net...
The Retailer Ordered Cautiously
Warpaint London, the AIM-listed cosmetics group behind W7, Barry M and Dirty Works, reported first-half revenue down 17.8 percent to £40.5 million from £49.3 million. Adjusted EBITDA fell 36.4 percent to £6.8 million and pre-tax profit 33.2 percent to £4.9 million. The shares fell between eleven and fourteen percent. Gross margin rose 230 basis points to 47.3 percent. Those two facts sitting together are the interesting part, and the...