Tesla to increase car price and scale back store closure programme

(qlmbusinessnews.com via bbc.co.uk – – Mon, 11th March 2019) London, Uk – –

Tesla is increasing prices of its electric cars after scaling back a store closure programme.

The carmaker said the 3% price rise would not apply to the new mid-market Model 3.

Earlier this month Tesla said it would close an unspecified number of stores to fund a cut in the price of the Model 3 in the US to $35,000 (£26,400).

It will now close “about half as many” stores – making half the cost savings.

The carmaker, founded by Elon Musk, said that keeping more stores open would require a rise in vehicle prices by about 3% on average worldwide.

It has 378 stores and service locations but had not been specific about which ones would close.

“Over the past two weeks we have been closely evaluating every single Tesla retail location, and we have decided to keep significantly more stores open than previously announced as we continue to evaluate them over the course of several months,” the company said.

While it is pressing ahead with the price cut to the mid-market Model 3, prices will go up for more expensive variants of Model 3, as well as Model S and X cars, which can already cost up to £87,000. Customers can order at existing prices until 18 March.

It is still planning to conduct its sales online and said that buyers in stores will be shown how to order a Tesla on their phone, a process which Tesla says will take just a few minutes.

It had previously said that shifting sales online would allow it to cut prices by 6% on average – and cut the price of the Model 3.

The company says it has a “generous return policy” to avoid the need for test drives, as would-be buyers can return a car after 1,000 miles or seven days.

Tesla said that some stores in “high visibility locations” which have been closed will be reopened – albeit with smaller numbers of staff.

Stores will hold fewer cars for those customers who want to drive away with new vehicle immediately.

The company has been making efforts to cut costs after the “most challenging” year in its history. In January it announced 7% of its 45,000-strong workforce would be cut, indicating around 3,000 job cuts.

At the time Mr Musk had said the firm's cars were still “too expensive for most people”.

He has faced controversy over his tweets and last month the US regulator, the Securities and Exchange Commission, asked the courts to hold him in contempt for violating a settlement month aimed at limiting his social media comments.

He has until today to formally respond but had already tweeted the the regulator's oversight system is “broken”.

The matter stems back to his tweets about the company's financial performance and tweets in August when he claimed he had secured funding to take the firm private.

APPLE PARK – The Spaceship $5 Billion Dollars Office Construction

Source: Wonder World

In Early 2018, Apple partially finished construction on their new massive office building, called Apple Campus 2, Also known as Apple Park & the Spaceship.

The land cost an estimated $160 million dollars In 2011, the original planned budget for Apple Campus, was about $3 billion dollars, however in 2013 the total cost was estimated to be closer to $5 billion dollars.

The company’s new 175-acre campus, is one mile in circumference, with a diameter of 461 meters , and can house 12,000 employees.

The main building was ready for employees to begin partial occupancy in January 2018, as the building was still not finished, the process of moving more than 12,000 people, was estimated to take over six months.

How Subway Outshine Their Competitors With The Most Locations of Any Restaurant Worldwide

Despite the seeming ubiquitousness of McDonald's golden arches and the Starbucks mermaid, the sandwich chain Subway actually has the most locations of any restaurant worldwide, about 43,000 in 2017.

This number, however, belies the economic reality: while McDonald's and Starbucks continue to grow their profits, Subway's have been slipping since 2014. Industry analysts point to a few reasons for this, including a lack of innovation and fraught relationships with franchise owners.

10 Amazing Entrepreneurs Who Failed Big Before Becoming Successful

Source: chestnut

Entrepreneur Failure Stories: 10 Entrepreneurs Who Failed Big Before Becoming Successful. Failure is a part of business. Very few entrepreneurs ever make it big without first experiencing some massive failures. Whether it be running a business into the ground, getting fired from a job or even going to jail, plenty of very successful entrepreneurs have seen huge failures before ever accomplishing their dreams.

So if you ever feel worn down or intimidated by the thought of failing, just take a look at these entrepreneurs who failed before making it big.

Evan Williams Before co-founding Twitter, Williams (pictured above) developed a podcasting platform called Odeo. But the platform didn’t take off, in part because Apple announced the podcast section of the iTunes store shortly after the company launched. It folded shortly afterward.

Reid Hoffman Before co-founding LinkedIn and investing in big names like PayPal and Airbnb, Hoffman created SocialNet, an online dating and social networking site that ultimately failed.

Jeff Bezos Amazon is one of the biggest success stories of the online era. But before Amazon became a household name, the company’s CEO had several failed ideas. One of the most notable was an online auction site, which evolved into zShops, a brand that ultimately failed.

Akio Morita Back in the early days of Sony, Morita’s products weren’t quite as popular or well known as they are today. In fact, the first product was a rice cooker that ended up burning rice.

Momofuku Ando Before even coming up with the idea for instant noodles, which took him many tries to develop successfully, Ando had a small merchandising firm in Japan. But in 1948, he was convicted of tax evasion and spent two years in jail. He then lost that company due to a chain reaction bankruptcy.

Tim Ferris The author of “The 4-Hour Workweek” (pictured above) was turned down by about 25 publishers before finding one who actually agreed to publish his work — which later became a best selling title Peter Thiel Before starting PayPal and investing in big names like Facebook, Thiel lost big. His early hedge fund, Clarium Capital, lost 90 percent of its $7 billion assets on the stock market, currencies and oil prices.

Christina Wallace The current vice president of branding and marketing at Startup Institute is the former co-founder of Quincy Apparel. When the company shut down in 2013, Wallace stayed in bed for three weeks before forcing herself to get up and re-join the world

Sir James Dyson Dyson wasn’t always a well-known name associated with vacuum cleaners. In fact, it took Sir James Dyson 15 years and all of his savings to develop a bagless prototype that worked. He developed 5,126 prototypes that failed first Fred Smith Though we all know now that FedEx is a viable business model, Smith’s college professor disagreed. The future venture capitalist received a poor grade on an assignment where he pitched the idea for the company Ending quote: Success is not final, failure os not fatal: It is the courage to continue that counts

John Lewis partners to get lowest level pay-out since 1954 as profits slump

(qlmbusinessnews.com via news.sky.com– Thur, 7th Mar 2019) London, Uk – –

Partners at the employee-owned company will receive their lowest level pay-out since 1954 as it warned on consumer uncertainty.

Staff bonuses at John Lewis and Waitrose have been slashed to the lowest level in 65 years after a “challenging” year in which underlying profits fell 45%.

John Lewis Partnership, which owns both brands, said the pay-out to its more than 83,000 employees was being cut in order to keep paying off debt and maintain investment levels amid continued economic uncertainty.

It said this was having a “major impact on consumer confidence” and also warned that an “unmanaged” Brexit would result in a big fall in shopper sentiment.

The annual bonus of 3% of salary is the lowest since 1954 and down from 5% last year – the sixth consecutive year it has been cut. It was 17% in 2013.

But it may still come as a relief to many workers after a warning earlier this year that the pay-out may have to be cut altogether as the company faced tough trading conditions.

Chairman Sir Charlie Mayfield said conditions for the business – owned by its employees under a its partnership structure – were expected to “remain challenging” during 2019.

Operating profits for the year to 26 January were down by 56% at the John Lewis department store chain thanks to lower sales and a period of “near constant discounting” from October onwards in response to weak demand and “distress” from rival retailers.

Profits at Waitrose were up by 18% after like-for-like sales grew and margins were boosted by new ranges including vegetarian and vegan products.

Meanwhile the supemarket chain has sold five stores to rival retailers.

It also posted strong growth in online sales, ploughing investment in its Waitrose.com offering as it prepares to sever its current tie-up with delivery company Ocado.

For the partnership as a whole, profit stripping out bonuses, tax, and one-off items was down by 45% to £160m.

On a bottom-line basis, profits were up by 9% compared to a period last year when it was hit by major restructuring and accounting charges.

JLP said that it had been preparing for Brexit for over a year and that it was well positioned for a “managed transition”.

But it added: “The main risk in an unmanaged transition is a strong fall in consumer confidence and the impact that has on trade.

“Given the current level of uncertainty, we expect 2019 trading conditions to remain challenging.”

The company is still counting the cost of the plunge in the pound after the EU referendum as its currency “hedging” in place since before the vote – insurance policies designed to smooth out the impact of market volatility – has now ended.

Sterling's weakness means higher import costs for retailers such as JLP but it has not felt able to pass these on to customers amid fierce competition for consumers – resulting in a squeeze on profits.

The company added that retailers were also facing up to an “inevitable market adjustment” as they battled to be big or relevant enough to shoppers to compete.

Laith Khalaf, senior analyst at Hargreaves Lansdown, said: “Clearly things on the UK high street aren't pretty, and if the bellwether John Lewis is creaking, you can be sure others are feeling the pain.

“In the short term, things don't look like getting much better, but further out, John Lewis may ultimately pick up market share from others who fall by the wayside.

“A larger slice of the pie could be the reward for staying the course, but what remains to be seen is just how big a pie is left after the current shift in retail washes through the system.”

By John-Paul Ford Rojas

Debenhams issues fresh profit warning as trading remains tough

(qlmbusinessnews.com via news.sky.com– Tue, 5th Mar 2019) London, Uk – –

The retailer updates the market on progress in its turnaround and admits costs have proved to be greater than expected.

Debenhams has issued a fresh profit warning, saying its turnaround plan is likely to prove “disruptive” as trading remains tough.

The retailer, which is carrying out a restructuring that includes store closures in exchange for a further cash lifeline from its lenders, said that while sales had continued to fall since its last update to the market, the rate of decline had moderated.

In the first half of its financial year to 2 March, Debenhams' like-for-like sales in its core UK market were 6% lower.

They were 5.3% lower for the group as a whole as consumer sentiment remained damaged in the run-up to Brexit.

Debenhams' said: “Taken together with macroeconomic uncertainties and increased financing costs as a result of additional working capital needs, this means that the group's statement made on 10 January that we were ‘on track to deliver current year profits in line with market expectations' is no longer valid.”

Shares, which have taken a battering in the last year amid the financial crisis at the retailer, fell 8% in early deals to leave its market value languishing below £40m.

Debenhams' battle for survival is being fought on several fronts.

Shareholder opposition, led by Mike Ashley's Sports Direct, resulted in chief executive Sergio Bucher being voted off the board in January.

Chairman Sir Ian Cheshire quit in the aftermath of the vote, with former Home Retail Group boss Terry Duddy taking his place on an interim basis.

Mr Ashley, who last year rescued Debenhams rival House of Fraser out of administration, has a holding of just under 30% in Debenhams.

He had offered a £40m financial lifeline of his own to the board but was rebuffed.

Debenhams later netted a £40m credit facility from its banks and the money is dependent on its turnaround remaining on course.

The company said: “The annualised £80m cost saving programme is on track, and we expect the first ranges resulting from our sourcing partnership with Li & Fung will be in stores in the current season.”

It continues to expect to close 50 stores in the coming months with the potential for thousands of job losses.

Mr Bucher said: “We are making good progress with our stakeholder discussions to put the business on a firm footing for the future.

“Our priority is to secure the best outcome for the business and all our stakeholders, whilst minimising the number of store closures and job losses.

“To do this, as we have said before, we will need the support of both landlords and local authorities to address our rents, rates and lease commitments.”

Paul Hickman, analyst at Edison Investment Research, said of the profit warning: “Debenhams has again lowered expectations following a continued negative trading record.

“Observers will be forgiven for disagreeing that gross transaction value of sales down 5.0% in Q2 (second quarter) compared with 5.6% in Q1 (first quarter) represents much of a moderation in headwinds.

“However, it isn't the desperate trading picture that management says is affecting profits, but the ‘process' – meaning the execution of the £80m cost saving programme, the transition to the sourcing partnership with Li & Fung, and balance sheet restructuring measures including store closures.

“CEO Sergio Bucher's call to landlords and local authorities “to address our rents, rates and lease commitments” reads suspiciously like an appeal to charity.”

By James Sillars, business reporter

How Hugh Hefner Built The Playboy Empire making it one of the world’s Top Brands

Source: Business Casual

Playboy is an American men's lifestyle and entertainment magazine. History: it was founded in Chicago in 1953, by Hugh Hefner and his associates, and funded in part by a $1,000 loan from Hefner's mother. Notable for its centerfolds of nude and semi-nude models (Playmates), Playboy played an important role in the sexual revolution and remains one of the world's best-known brands.

Today it has grown into Playboy Enterprises, Inc., with a presence in nearly every medium. In addition to the flagship magazine in the United States, special nation-specific versions of Playboy are published worldwide. After a year-long removal of most nude photos in Playboy magazine, the March-April 2017 issue brought back nudity.

Aston Martin sets aside £30m to navigate any Brexit-related disruption

(qlmbusinessnews.com via news.sky.com– Thur, 28th Feb 2019) London, Uk – –

The luxury carmaker says 2018 proved an “outstanding” year and it is on track to handle the UK's looming departure from the EU.

Aston Martin Lagonda has used its first annual results since its stock market debut to announce a £30m fund to help navigate any Brexit-related disruption.

The luxury carmaker, which listed on the London Stock Exchange last October, said its board had approved “plans for up to £30m of advanced working capital and/or operating expenses” linked to the UK's departure from the EU.

The decision marks the latest in a string of actions by the car industry in the run-up to the 29 March deadline – with the sector firmly opposed to a no-deal scenario.

Aston has made no secret of the fact its business is less exposed to the possibility of extra tariffs and supply disruption than its high volume rivals such as Nissan, Honda and Jaguar Land Rover.

All three have made headlines in recent weeks for investment decisions such as Honda's decision to shut its Swindon plant – though Brexit has only formed part of the story as weaknesses in the global economy have dominated.

The industry lobby group the SMMT separately reported on Thursday that UK car exports to China fell 72% in January.

Aston Martin – best known worldwide for its association with the James Bond movie franchise – said it had enjoyed sales growth across all regions in 2018 – including China.

It reported record revenue of £1.1bn – a rise of 25% on 2017 – though its bottom line was hit by a series of costs including £136m linked to its stock market listing.

The company achieved a pre-tax loss of £68.2m following profits of £85m the previous year.

It said of its Brexit preparations: “To date the company has spent a minimal amount (on racking and packaging) and has committed, but not spent, (around) £2m on revised supply chain routes.

“Whilst we are mindful of these external factors and the uncertain and more challenging external environment, particularly in the UK and Europe, we remain disciplined in our execution and maintain our guidance for financial year 2019, whilst also reconfirming our medium-term objectives”.

Shares were up to 13% lower in early trading – with the company losing a third of its market value since flotation.

The company said its expansion – including plans for its first sports utility vehicle, the DBX, were progressing well.

Chief executive Dr Andy Palmer said: “2018 was an outstanding year for Aston Martin Lagonda, delivering strong growth, with improving revenues, unit sales and adjusted profits.

“As the UK's only listed luxury automotive group, we have demonstrated our legitimacy in the global luxury market.

“Our well-defined expansion plans, that combine outstanding high-performance cars with iconic brand-status, are on track as we manage through the uncertainties and disruption impacting the wider auto industry.

“Given our progress on the Second Century plan – including completion of our new manufacturing plant at St Athan and our preparations for the DBX, we are confident that Aston Martin Lagonda will deliver another year of growth.

“Whilst we are mindful of the uncertain and more challenging external environment, particularly in the UK and Europe, we remain disciplined in our execution and maintain our guidance for financial year 2019, whilst also reconfirming our medium-term objectives.”

He later told the Reuters news agency that any delay to the Brexit process would be a “further annoyance” – adding: “You're holding that contingency stock for longer which means that your working capital is tied up for longer.

“More importantly, what you're doing is you're creating continued uncertainty,” he said.


By James Sillars, business reporter

M&S and Ocado confirm deal to start home delivery service next year

(qlmbusinessnews.com via bbc.co.uk – – Wed, 27th Feb 2019) London, Uk – –

Marks & Spencer and Ocado have confirmed a deal which will give the High Street retailer a home delivery service for the first time.

M&S will buy a 50% share of Ocado's retail business for £750m.

The joint venture will be called Ocado and will deliver M&S products from September 2020 at the latest, when Ocado's deal with Waitrose expires.

Under the deal Ocado will also continue to supply its own-label products and big name branded goods.

M&S will fund the deal by selling £600m of shares and by cutting its dividend payout to shareholders by 40%.

“We think we've paid a fair price,” said Steve Rowe, M&S chief executive.

“It's the only way we could have gone online within an immediately scalable, profitable and sustainable business,” he said.

He added that one third of M&S business would be online in the future.

M&S shareholders were sceptical – shares fell 8% following the announcement, while Ocado rose by 8%.

Neil Wilson, chief markets analyst at Markets.com, questioned whether the value of a shop with M&S was big enough for online shopping.

“Basket sizes at M&S are extremely small relative to other larger supermarkets and significantly below the current Ocado minimum for delivery.

At the moment M&S shoppers spend an average of £13 on each shop, while Ocado average just over £100 per shop.

M&S said that part of the reason it has such a relatively low average spend was that customers could not access a wider range of products.

The company said the Ocado deal would offer their customers the ability to do a full shop online.

According to Mr Wilson, there is also a risk that shoppers will defect to Waitrose when the current arrangement with Ocado comes to an end.

“I would also query whether M&S can retain the current Ocado customer base who are used to getting Waitrose products. There is a high risk of customer leakage as consumers rotate to Waitrose's in-house delivery service,” he said.

However, Ocado founder and chief executive Tim Steiner brushed off that suggestion.

“Our customers have told us that they are looking forward to getting their M&S Percy Pig sweets', he said.

Mr Steiner told the BBC of the 50,000 products it currently sold, about 4,500 were Waitrose branded.

When the new joint venture is up and running these would be replaced by more than 4,500 M&S products, he added.

Mr Rowe claimed that current Ocado customers would benefit from the deal as Marks and Spencer products were on average cheaper than comparable Waitrose products.

The deal could also see some of Ocado's own brand products being stocked in M&S stores.

Commenting on the deal, Waitrose managing director Rob Collins said the supermarket chain had strengthened its own online business “significantly” and that it planned to double Waitrose.com within five years.


Analysis: By Dominic O'Connell, Today business presenter

The two companies' share price reactions give a succinct verdict.

M&S was down nearly 9% in early trading; Ocado up 4%. Retail experts – and professional investors – think there is a lot more in this for Ocado than for M&S.

The latter is paying £750m for a half share in a division of Ocado that last year made just over £80m of trading profit. Shareholders will have to find £600m of the purchase price from their own pockets.

The high price explains some of investor misgivings, but there are bigger questions about the fit between the two.

M&S is a (relatively) upmarket convenience store, where the average basket price is just £13.

Ocado, thanks to its tie-up with Waitrose and its wide-range of own-label products, is a full-service grocery store where most customers are doing their weekly shop, not topping up.

Will M&S be able to push enough of its products through Ocado to justify the price, and how will Ocado customers react when its relationship with Waitrose comes to an end next year?

Archie Norman, M&S's wily chairman and chief strategist, might judge these criticisms short-sighted, and typical of the City's lack of long-term vision.

Having lagged behind on online shopping for years, M&S has been catapulted into the front ranks at a stroke.

The cost of the deal, Norman might argue, should be judged against the cost of the alternatives, and the cost of doing nothing.

Grant Cardone SUCCESS Motivation: How to Develop a MILLIONAIRE Mindset

Source: Evan Carmichael

More about Grant Cardone: He's internationally renowned business and sales expert. He's the author of 7 sales and business books. He has worked with companies like Google, Aflac, Toyota, GM, Ford and many more. He appears regularly on Fox News, CNBC, Fox Business, and contributes to Entrepreneur.com. He was named the #1 marketer to watch in 2017 by Forbes Magazine. He helps his followers and clients to make success their duty. He's the creator of customized sales training programs for Fortune 500 companies and entrepreneurs. He's the author of New York Times bestseller book “If You're Not First, You're Last”. He captivates and motivates audiences with his engaging and entertaining speaking style. He's heavily involved in civic affairs and charitable organizations.

How Huawei Went From A Small-Time Parts Reseller To A Homegrown Tech Giant

(qlmbusinessnews.com via bloomberg.com – – Sat, 23rd Feb, 2019) London, UK – –

Huawei has been rocked by political and legal turmoil at a time when it also happens to be poised to build the worldwide 5G revolution. Is the timing a coincidence, or a coordinated attempt to knock China's biggest company down a peg? This is the story of how Huawei went from a small-time parts reseller to the homegrown tech giant China always hoped for, and the west always feared.

Video by Henry Baker

Victoria Beckham On The Road To Launch Her Latest Collection In New York

Source: Victoria Beckham

Join me as I travel to New York to launch my #ReebokxVictoriaBeckham collection, celebrate female artists at the Old Masters preview event at Sotheby’s and chat all things fashion on Live with Kelly and Ryan. Click the links below to shop my exclusive travel edit with items from my #VBSS19 collection!

Ritz – The inventor behind the famous luxurious modern hotel business

Source: wocomoTRAVEL

This is the first and only filmed biography about Cesar Ritz, inventor of modern hotel business. It is the story of a peasant boy in a remote mountain area and thus starts there, in the place he grew up in, Niederwald. The film follows Ritz’ way to Paris, Cannes, Rome and London. Finally, the film ends in the clinic where Ritz spent his last days, back in Switzerland. The film features interviews with family, friends and experts: the directors of the Ritz in Paris and Rome, a follower of the chef Escoffier, and Jacques Tardi, an artist specializing in the “Commune de Paris” and thus knowing the Paris of the Ritz period particularly well.

15 Things To Consider If You Get Rich All of a Sudden

Source: Alux.com

In this video we'll try to answer the following questions: What should you do if you gen rich all of a sudden? What do to if you inherit money? How to manage a large sum of money? What should you do if you get rich? What do to if you win the loto? How to manage wealth? How to get wealthy? How to maintain being rich? How to keep your wealth? How not to lose money? Why do people go broke after they went rich? How do people lose money? What if you inherit a fortune? I just inherited a million dollars, what do I do? How to you being investing money? What you should know about money?

Debenhams secures £40 million lifeline from lenders

(qlmbusinessnews.com via uk.reuters.com — Tue, 12th Feb 2019) London, UK —

(Reuters) – Shares in Debenhams surged by a third in value on Tuesday after the embattled UK retail chain secured £40 million ($52 million) in extra funding from some of its lenders, giving it more time to secure its longer-term future.

Once Britain’s biggest department store chain, Debenhams has been struggling with net debts of almost 300 million pounds and plans to close 50 underperforming stores, putting about 4,000 jobs at risk, after it failed to keep pace with consumers moving online and to cheaper outlets.

It said the new loan, agreed for a period of 12 months, would act as a bridge to “facilitate a broader refinancing and recapitalisation”, adding it was still talking to its stakeholders and would conclude a “comprehensive refinancing”.

The retailer, which is striving to avoid the fate of collapsed rivals BHS and House of Fraser, also said it had signed an agreement with Hong Kong-listed supply chain solutions firm Li & Fung to develop a strategic sourcing partnership.

Shares in Debenhams, which lost more than 85 percent of their value in 2018, were up 33.9 percent at 4.23 pence by 0820 GMT. That lifted the company’s market value to 52 million pounds, although some analysts questioned whether the extra funding would be enough or whether Debenhams might yet take up an offer of financing help from Mike Ashley’s Sports Direct, its biggest shareholder.

“This interim solution … shows the ongoing discussions with their lenders are constructive and ensures Debenhams can get through its working capital peak in April,” analysts at brokerage Investec said in a note.

“The strategic announcement with Li & Fung also enables them to consolidate its supplier base more quickly and helps those suppliers which have a credit insurance issue.”

UK media have reported previously that Debenhams had turned down an offer of a similar cash injection from Ashley’s Sports Direct, which already holds almost 30 percent of the company and has snapped up businesses after a number of UK high street collapses.

Other London-based analysts remained downbeat about Debenhams’ prospects.

“While this (refinancing) takes away the immediate pressure and provides a short respite, we believe Debenhams is likely to move forward with a CVA in order to reduce its lease commitments and store numbers, with longer-term financing also likely to be contingent on some form of equity raise,” John Stevenson, retail analyst at Peel Hunt, said in an email.

“The prospect of a CVA and equity raise may well secure the future of Debenhams, but also leaves little equity value for existing shareholders and we reiterate our Sell stance.”

Before Tuesday’s plan was announced, Debenham’s combined credit score – which measures how likely a company is to default in the next year on a scale of 100 (very unlikely) to 1 (highly likely) – was “1”, Refinitiv Eikon data showed.

By Noor Zainab Hussain

Victoria’s Secret Rise And Fall As Rival Competition Surge In Popularity On Social Media

Source:CNBC

When Victoria's Secret entered the market in the 1980s, it revolutionized the retail of women's undergarments. Previously, women viewed their bras on a binary — strictly functional for day-to-day or fancy for special occasions. Victoria's Secret combined the structure and function of day-to-day bras with the fun prints and feel of fancier bras. But 30 years later, the brand is falling behind the times as consumer priorities shift and younger brands like Aerie and Rihanna's Savage x Fenty adapt.

The lingerie brand, owned by L Brands, has reported negative same-store sales for the past three years now, as women steer clear of its bedazzled bras and underwear for comfortable pieces in cooler colors. That's as a new cohort of start-ups like Adore Me, Third Love, Lively, Cuup and Knix are resonating with younger consumers as they surge in popularity on social media channels like Instagram.

Wall Street analysts and investors alike are unsure if L Brands will be successful in reinventing Victoria's Secret's increasingly obsolete bras business. Even a recent slew of heavy promotions doesn't appear to be moving products off of shelves, according to UBS analyst Jay Sole, who's been tracking promotional activity in stores and online.

Why Whale Poop Can Garner More Than $7,000 A Pound

Source: Business Insider

A small percentage of sperm whales produce ambergris, a clump of squid beaks and fatty secretions that scientists believe exits through the whales’ bowels Ambergris is coveted by the fragrance industry for a chemical it contains called ambrien, which suspends smells in the air, and for its own unique scent Quality pieces of ambergris, which ambergris hunters snatch up as they wash ashore, can garner more than $7,000 a pound.