Daily LInks
1. Inside Mark Zuckerberg’s Metaverse Struggles: Zuckerberg successfully overhauled his company a decade ago, getting it to focus on how its products worked on smartphones instead of desktops. He signaled a similar shift last year, saying that investing in the metaverse would allow Meta to make the leap from one technological era to the next. – Read More on the New York Times
2. Retailers Kick Off Black Friday in October Again, This Time with Too Much Stuff: Retail profits will decline as many companies race to cut prices faster than their peers. Morgan Stanley analysts say this dynamic could hurt margins and fuel an earnings slowdown. – Read More on the WSJ
3. Former Sephora stores reopen in Russia under new ownership: In a message on its website, Ile de Beauté thanked returning customers, promising a wide range of international brands, and said that previously purchased gift cards would still be valid. – Read More on Reuters
4. Global Luxury Goods Sales Expected to Hold Up Well, Says Citi: “Following 6 years of stellar outperformance, the luxury goods sector has slightly underperformed this year. In recent months however, luxury shares have outperformed despite economic pressures, reflecting a solid 2H22 demand outlook and receding geopolitical and Covid risks.” – Read More on Investing
5. Nike Korea unveils policies banning resellers: The updated terms and conditions indicate that returns or refunds will be refused and give Nike the right to cancel orders if they appear to have been made with the intention of reselling them. – Read More on EconoTimes
