GPO Plus, Inc. (OTCQB: GPOX), a prominent distribution and manufacturing company specializing in consumer products for convenience stores, gas stations, and specialty retailers, has reported impressive Q2 financial results. The company’s gross revenue for the quarter ending October 31, 2023, reached a record $1.21 million, marking a substantial 25% increase from the previous quarter ending July 31, 2023, which reported $970,735 in gross revenues.
Key Highlights:
1. Quarterly Revenue Surge: GPOX achieved a remarkable 25% surge in top-line revenue, reaching $1.213 million in the second quarter, up from $970,735 in the preceding quarter.
2. Expansion of DSD Service: Approximately 154 stores received the new Direct Store Delivery (DSD) service with full product inventory by October 31, 2023. GPOX is on track to surpass the estimated 258 stores receiving the white glove DSD service by year-end, with an ambitious target of 475 stores expected to be online by May 2024.
3. Technological Advancements: GPOX Labs.ai, the technology division, has initiated the implementation of its proprietary MSRP software platform. This advanced technology incorporates AI mapping tools, live dispatch consoles, and comprehensive DSD inventory support, optimizing logistics and inventory management.
4. Strategic Partnership: GPOX Labs.ai has entered into a strategic partnership with an enterprise data exchange company to enhance Electronic Data Interchange (EDI). This collaboration aims to provide near-real-time inventory updates and advanced sales analytics, expected to go live this quarter.
About GPO Plus
GPO Plus (GPOX) operates as a product development, manufacturing, and distribution company, offering a diverse portfolio of high-quality innovative products directly to consumers and retailers. With a focus on product development, distribution, marketing, and sales, the company aims to expand its product line and distribution reach to meet market demand and customer needs.
Kima Commercial, a prominent local real estate firm, is pleased to announce the successful sale of the esteemed Corporate Chaplains building in Wake Forest, North Carolina. Acting as the representative for the seller, Corporate Chaplains of America, Kima Commercial facilitated the sale of the Class A office space on May 22, 2023, achieving a record-breaking transaction of $7,014,000, marking it as the company’s largest sale to date.
The property located at 1300 Corporate Chaplains Drive boasts an expansive 20-plus acre site, offers a blend of natural beauty and strategic location. Surrounded by lush woods and featuring a tranquil pond, and a delightful walking trail, the environment creates an ideal atmosphere for productivity and relaxation for its occupants.
Convenience is a hallmark of the building, as it is located just off the bustling US 98 highway, providing easy access to major transportation routes. Its prime location in proximity to US 1, downtown Wake Forest, and the thriving Grove 98 development, which is set to house prominent establishments, further enhances its appeal.
The sale of the Corporate Chaplains building underscores Kima Commercial’s expertise in identifying and facilitating exceptional real estate opportunities. The company’s commitment to delivering quality properties that meet the needs and aspirations of both investors and tenants has been instrumental in achieving this remarkable milestone.
This record-breaking transaction not only highlights the team’s unwavering dedication and market knowledge but also underscores the desirability and value of Wake Forest’s commercial real estate market. The company remains committed to identifying new opportunities, driving growth, and delivering exceptional results for its clients and partners.
Mehdi Hilmi and Peter Kima were the brokers of record for Kima Commercial at Real Broker, LLC.
Kima Real Estate Group Peter Kima 919-336-1700 kimacommercial.com
HUGO BOSS WITH RECORD YEAR 2022 POWERFUL EXECUTION OF “CLAIM 5” PAVES WAY FOR FUTURE TOP- AND BOTTOM-LINE GROWTH
METZINGEN – WEBWIRE – Friday, March 10, 2023
Full year 2023
Currency-adjusted Group sales increase 27% to new record level of EUR 3.7 billion
Broad-based growth across both brands, all regions, and all consumer touchpoints
EBIT grows 47% to EUR 335 million driven by strong top-line momentum
Outlook 2023
Successful execution of CLAIM 5 remains primary focus also in 2023
Group sales expected to grow at a mid-single-digit percentage rate
EBIT to increase by +5% to +12% to a level of EUR 350 million to EUR 375 million
2022 was an outstanding year for HUGO BOSS, says Daniel Grieder, Chief Executive Officer of HUGO BOSS. Thanks to the rigorous execution of our CLAIM 5 strategy, we made 2022 a record year for our Company with broad-based momentum across brands, regions, and consumer touchpoints. Most importantly, our bold branding refresh impressively fueled brand power of BOSS and HUGO. In achieving this, we have laid a strong foundation to further leverage the great potential of HUGO BOSS going forward.
For HUGO BOSS, fiscal year 2022 represented an important milestone along its CLAIM 5 growth strategy, marking the first full year of successful strategy execution. In this context, the Company made significant progress across key business areas whether from a brand, product, or sales perspective which spurred its operational and financial performance. Above all, the new and powerful brand images of BOSS and HUGO drove momentum throughout the year, resulting in strong full-price sales and enabling both brands to success-fully expand market shares around the globe. All this led to significant top- and bottom-line improvements for HUGO BOSS in fiscal year 2022. Supported by a stellar performance also in the final quarter of the year, the Company ultimately exceeded its full year sales and earnings targets, which had been revised upwards twice during the year.
As announced in January 2023, sales in fiscal year 2022 increased by a strong 27% currency-adjusted to a record level of EUR 3,651 million. This means, for the first time in the history of HUGO BOSS, the Company exceeded the EUR 3 billion threshold (2021: EUR 2,786 million). In Group currency, this translates into an increase of 31%. This robust performance was achieved despite high levels of macroeconomic and geopolitical uncertainty in fiscal year 2022, including global supply chain disruptions, the economic implications of the war in Ukraine, and long-lasting pandemic-related restrictions in China.
EBIT grows 47% despite significant investments into the business
In 2022, HUGO BOSS also recorded significant bottom-line improvements as the robust top-line performance more than compensated for ongoing brand, product, and digital investments as part of CLAIM 5. This also includes a step-up in marketing investments of 41%, largely reflecting the successful campaigns and fashion events over the course of the year, which drove brand relevance globally. Overall, EBIT increased by a strong 47% to an amount of EUR 335 million (2021: EUR 228 million). Consequently, the Groups EBIT margin expanded noticeably, up 100 basis points to a level of 9.2% (2021: 8.2%), largely reflecting operating expense leverage in brick-and-mortar retail. At the same time, the Groups gross margin remained stable at 61.8%, as the overall higher share of full-price sales compensated for negative external effects caused by elevated sourcing costs and unfavorable currency effects.
Execution of CLAIM 5 remains primary focus in 2023
Building on our regained brand power, in 2023 we will work relentlessly to further drive top- and bottom-line growth, says Daniel Grieder. Thanks to our excellent team, our strong brands BOSS and HUGO, and the power of CLAIM 5, I have every confidence that we are heading into another successful year. Together, we will continue to pursue our ambition to ultimately become one of the top 100 global brands.
For HUGO BOSS, fiscal year 2023 represents a further important milestone in achieving its 2025 financial ambitions. The main focus this year will therefore continue to be on the determined execution of CLAIM 5. This includes, above all, building on the strong brand power gained in 2022. In this context, HUGO BOSS remains fully committed to winning over consumers from around the globe through engaging marketing campaigns, exciting brand events, and inspiring collections, all aimed at further boosting brand power. Only recently, BOSS and HUGO celebrated the launch of their new Spring/Summer 2023 collections, with the respective global brand campaigns once more building on the two powerful mottos #BeYourOwnBOSS and #HUGOYourWay. Both collections are resonating extremely well with global consumers as reflected by strong initial sell-through rates. Likewise, HUGO BOSS looks back at a robust order intake from its wholesale partners for much of 2023, providing further evidence of the success of the brands new and unique look and feel. Through its diverse product mix, HUGO BOSS fully lives up to its promise to dress customers from head to toe, and for every occasion 24/7.
In line with the Companys vision of being the leading premium tech-driven fashion platform worldwide, HUGO BOSS will push ahead with the further digitalization of its business model in 2023. By fully leveraging the power of data, the Company will reduce collection complexity and further enhance operational efficiency. In addition, HUGO BOSS will link digital and physical commerce even more closely to offer its customers a best-in-class omnichannel experience. On that note, the recent relaunch of the strongly improved HUGO BOSS app, significantly enhancing the mobile shopping experience, also plays an important role. At the same time, a strong focus remains on the ongoing modernization of the the Companys global store network to drive store productivity. Already today, consumers can experience brandled, innovative retail concepts at more than 200 points of sale worldwide, with more openings and renovations to follow. This also includes the recent reopening of BOSS on Londons Regent Street, and the planned renovation of the BOSS store at Dubai Mall later this year.
Further top- and bottom-line improvements anticipated for 2023
All strategic initiatives will provide a robust foundation for fostering the strong top-line momentum gained in 2022. Against the backdrop of ongoing macroeconomic and geopolitical uncertainty, HUGO BOSS expects Group sales in 2023 to increase at a mid-single-digit percentage rate, with all regions expected to contribute to growth. At the same time, HUGO BOSS forecasts that it will increase its EBIT in 2023 within a range of +5% to +12% to an amount of between EUR 350 million and EUR 375 million. In light of ongoing investment in products, brands, and digital expertise, all part of CLAIM 5, HUGO BOSS will continue to drive efficiency gains, in particular when it comes to its brick-and-mortar retail store network.
Dividend increase of 43% proposed for fiscal year 2022
The Managing Board and Supervisory Board intend to propose to the Annual Shareholders Meeting on May 9, 2023 a dividend of EUR 1.00 per share for fiscal year 2022. This corresponds to an increase of 43% year over year (2021: EUR 0.70), reflecting the Companys outstanding operational performance in 2022, its very robust financial position, and managements confidence in the continued success of CLAIM 5. The proposal is equivalent to a payout ratio of 33% of the Groups net income attributable to shareholders in fiscal year 2022, thus fully in line with the Companys targeted payout range of between 30% to 50% as set out in CLAIM 5.
Further information can be found here. This also includes the digital version of the HUGO BOSS Annual Report 2022 with many interactive features, exciting stories, and dedicated video statements from all three Managing Board members.
GROUP.HUGOBOSS.COM
TWITTER: @HUGOBOSS
LINKEDIN: HUGO BOSS
Another World Record in the Bag! Heartiest Congratulations to Team Maharashtra Metro & Team NHAI on achieving the world record in Nagpur by: -Constructing longest Double Decker Viaduct (3.14 KM) with Highway Flyover & Metro Rail Supported on single column pierssaid Union Minister for Road Transport and Highways Shri Nitin Gadkari in a series of tweets.
The Minister said constructing Maximum Metro stations (3 Metro Stations) on Double Decker Viaduct in Nagpur,Recognized by Asia Book of Records & India Book of Records, this is indeed a proud moment for the entire country.
Shri Gadkari thanked the incredible Engineers, Officers & Workers who persevered day & night to make this day happen. He said such development is the fulfillment of the promise by Prime MinisterShri Narendra Modi Government on building world class infrastructure in New India.
The following is issued on behalf of the Hong Kong Monetary Authority:
(Approved for Issue by the Exchange Fund Advisory Committee by Circulation)
Report on Currency Board Operations (December 25, 2021 – April 12, 2022)
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The Sub-Committee noted that the Hong Kong dollar (HKD) traded within a range of 7.7832 – 7.8378 against the US dollar (USD) during the review period. The HKD had softened since February amid market concerns over the US Federal Reserve (Fed)’s policy normalisation and the risk-off sentiment triggered by the Ukraine situation. Amid expectation of further US rate hikes, HKD interbank interest rates (i.e. HIBORs) increased slightly during the review period but remained at low levels by historical standards. While the Fed’s policy normalisation process was expected to proceed at a faster pace than the previous rate hike cycle in 2015-2018, the ample HKD liquidity suggested that increases in HKD interbank rates might lag those of the USD interest rates. The extent of lagging would depend on the supply and demand situation of HKD in the local market. Overall, the HKD exchange and interbank markets continued to trade in a smooth and orderly manner.
The Sub-Committee noted that the Monetary Base increased to HK$2,147.48 billion at the end of the review period. In accordance with the Currency Board principles, all changes in the Monetary Base had been fully matched by changes in foreign reserves.
The Report on Currency Board Operations for the review period is at Annex.
Monitoring of Risks and Vulnerabilities
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The Sub-Committee noted that the global economic outlook worsened as a result of the Ukraine situation, which had driven up global commodity prices and triggered bouts of financial market volatility. Faced with sharp inflationary pressures, the Fed had telegraphed its intentions to deliver successive rate hikes and shrink its balance sheet. In turn, global financial conditions might tighten, especially if the pace of US monetary normalisation were to pick up.
The Sub-Committee noted that in Mainland China, economic growth could face potential headwinds arising from the Ukraine situation and new COVID-19 outbreaks.
The Sub-Committee noted that in Hong Kong, the fifth wave of local infections had brought significant pressures on the economy in early 2022. The challenging global environment had also posed downside risks to growth. The labour market weakened with the unemployment rate rising, while underlying inflation remained largely in check despite elevated external prices. Meanwhile, the housing market showed signs of stabilisation more recently amid easing local infections.
Hong Kong’s Residential Mortgage Loans Offered by Non-bank institutions
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The Sub-Committee noted a paper that examined the role of non-bank institutions in the residential mortgage market through the use of transactional big data.
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