Harley-Davidson, Hershey, Adidas, Mercedes warn of profit woes and tariff costs after US-EU 15% deal
American motorcycle mainstay Harley-Davidson announced a net income of $108 million, down from $218 million during the same period last year, missing analyst expectations.
The company also said it would hold off on providing guidance for the year, after withdrawing sales and profit forecasts in May in the face of the tariffs.
In the apparel sector, Adidas shared warnings of its own. The company announced more than $6.8 billion in sales, a 2.2 percent increase in year-on-year sales, though the figure missed analyst expectations.
While the company still expects an operating profit in 2025, it told investors Trump's tariffs could increase its costs by up to $231 million.
'The year has started great for us and normally we would now be very bullish in our outlook for the full year,' Chief Executive Bjorn Gulden said on Wednesday. 'We feel the volatility and uncertainty in the world does not make this prudent.'
The company is weighing possible U.S. price increases, though it hasn't decided yet.
Though sales were up, operating profits were down 33 percent for chocolate giant Hershey compared with the second quarter of 2024.
The company said it expects adjusted earnings per share to decline between 36 and 38 percent, as the company confronts between $170 million and $189 million in tariff expenses, a roughly 10 times increase from its tariff cost estimates in May.
Mercedes, meanwhile, said tariffs would eat 1.5 percentage points into its operating margin, equivalent to $420 million in the second quarter.
The company will face levies as it imports vehicles to the U.S. from Mexico, China, and Europe, as well as input costs for importing parts to its Alabama vehicle factory.
During the second quarter, net profits were roughly $1.06 billion, down from $3.45 billion during the same period last year, as the company faces tariff headwinds and collapsing demand in China.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sky News
18 minutes ago
- Sky News
Tesla ordered to pay $243m to victims of fatal Autopilot crash
A jury has ruled that Tesla is partly to blame for the death of a young woman who was hit by an electric car on Autopilot. Naibel Benavides was stargazing at the time of the collision, which sent her flying 22m (75ft) through the air in Florida. Her boyfriend was seriously injured in the 2019 incident, while her body was discovered in a wooded area. The company has now been ordered to pay $243m (£183m) in damages to Ms Benavides' family, and to her partner Dillon Angulo. Jurors concluded that not all of the blame could be put on a reckless driver who admitted he was distracted by his phone before he hit the young couple. The motorist, George McGee, reached a separate settlement with the victims' families in an earlier case. Brett Schreiber, who represented the victims, said: "Tesla designed Autopilot only for controlled-access highways yet deliberately chose not to restrict drivers from using it elsewhere, alongside Elon Musk telling the world Autopilot drove better than humans. "Today's verdict represents justice for Naibel's tragic death and Dillon's lifelong injuries." 3:33 Tesla - and Elon Musk - have said it will appeal the verdict, labelling it "wrong" and a setback for automotive safety. The verdict would also work to "jeopardise Tesla's and the entire industry's efforts to develop and implement life-saving technology", the company warmed. Tesla had claimed Mr McGee was solely to blame for the fatal crash because he had reached down to pick up a dropped mobile phone as his Model S sped through an intersection in Key Largo, Florida, at about 62mph. Mr McGee allegedly did not receive alerts as he ran a stop sign and a red light - and the plaintiffs' lawyer argued that the driver's assistance should have warned the driver and braked before the collision. The collision sent Ms Benavides Leon flying 22m (75ft) through the air, with her body later being discovered in a wooded area, while Mr Angulo suffered serious injuries. "To be clear, no car in 2019, and none today, would have prevented this crash," Tesla said. "This was never about Autopilot; it was a fiction concocted by plaintiffs' lawyers blaming the car when the driver - from day one - admitted and accepted responsibility." Lawyers for the plaintiffs also alleged that Tesla either hid or lost key evidence, including data and video recorded seconds before the collision. They showed the court that the company had the evidence all along, despite repeated denials, after hiring a forensic data expert who dug it up. After being shown the evidence, Tesla said it made a mistake and honestly hadn't thought it was there. Past cases against Tesla were dismissed or settled, so the verdict in this case could encourage more legal action. Miguel Custodio, a car crash lawyer not involved in this trial, added: "This will open the floodgates. It will embolden a lot of people to come to court." The verdict comes as Mr Musk plans to roll out a driverless taxi service, hoping to convince people his vehicles are safe enough to drive on their own. Improvements to the company's driver assistance and partial self-driving features have been made in recent years - but in 2023, 2.3 million Tesla vehicles were recalled amid fears Autopilot was failing to sufficiently alert drivers not paying attention to the road.
Auto Blog
an hour ago
- Auto Blog
Battle of the 2025 Chevrolet Blazer: Gas Versus Electric
By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Looking for a lease on the new 2026 Hyundai Santa Fe? Find out the August lease special, including monthly payment, term length, and down payment for this popular SUV. The Blue Oval will reveal a new EV and strategy on August 11, which is aimed at competing against China's best. Siblings by nameplate We've seen a couple of automakers sharing nameplates across gas and electric vehicles now, with the Chevrolet Blazer and Blazer EV serving as a shining example. While sharing a nameplate helps in name recognition, it can also be confusing, especially if you're not a car person. Both the Chevy Blazer and Blazer EV offer sharp styling, spacious seating, and an excellent driving range. In terms of performance and price, however, they couldn't be more different. 2023 Chevrolet Blazer RS — Source: Chevrolet Combustion and electrification collide The 2025 Chevrolet Blazer comes equipped with two engine options: a 2.0-liter turbocharged four-cylinder and a naturally aspirated 3.6-liter V6. Both engine options come paired with a nine-speed automatic transmission and front-wheel drive. All-wheel drive is available as an upgrade for another $2,700. The turbocharged powertrain generates 228 horsepower and 258 lb-ft of torque. It's the more efficient of the two engine options, earning up to 25 mpg in combined city/highway driving for an estimated 485-mile range. The naturally aspirated V6 engine is optional on most trim levels and produces 308 horsepower and 270 lb-ft of torque. Fuel efficiency takes a hit, though, with V6-equipped models earning up to 21 mpg in combined city/highway driving for an estimated 456-mile range. 2023 Chevrolet Blazer RS — Source: Chevrolet Thanks to the electric motor's instant torque, every rendition of the Chevy Blazer EV is quick off the line. That's where the simplicity ends, though. The entry-level LT is available with front- or all-wheel drive, while the RS comes in front-, rear-, or all-wheel drive configurations. The top-tier SS trim is only available with all-wheel drive. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Blazer EV LT and RS models with front-wheel drive feature a single electric motor that produces 220 horsepower and 243 lb-ft of torque, with a 312-mile range. RS models equipped with rear-wheel drive can travel up to 334 miles on a single charge while the electric motor generates 365 horsepower and 325 lb-ft of torque. LT and RS trims with all-wheel drive boast 300 horsepower and 355 lb-ft of torque, and can go as far as 283 miles. 2025 Chevrolet Blazer EV SS — Source: James Ochoa/Autoblog The SS trim features a performance version of the dual-motor AWD system tuned to produce up to 615 horsepower and 650 lb-ft of torque. Even with that kind of power, the SS model can go up to 303 miles on a single charge. According to GM estimates, the Blazer EV SS can go from zero to 60 mph in just 3.4 seconds. Blazer's shared nameplate extends to trim levels When it comes to the initial price, the gas-powered Blazer is the better choice. Starting at $35,600, the Blazer 2LT comes with heated front seats, a 10.2-inch touchscreen display, and wireless Apple CarPlay and Android Auto compatibility. The 3LT, available from $39,500, builds on the entry-level trim with a power liftgate, heated side mirrors, and leather-appointed seats. 2023 Chevrolet Blazer RS — Source: Chevrolet The RS and Premier trims top the range, and each comes priced from $43,000. Both models feature their own unique design elements and share several amenities. An eight-speaker Bose premium sound system, 10.2-inch touchscreen display, and Apple CarPlay and Android Auto compatibility come standard on both Blazer trims. The RS trim features black exterior accents, including black bowties and roof rails. The dual exhaust highlights the model's performance-driven aesthetic. Inside, the RS model includes black perforated leather-appointed seats with red accents. The Premier trim presents a more refined package, with a chrome horizontal grille, silver roof rails, and chrome accents. 2023 Chevrolet Blazer RS — Source: Chevrolet The electrified Blazer EV comes in three trim levels, all of which put an emphasis on technology and futuristic design elements. Starting at $44,600, the Blazer EV LT rides on 19-inch wheels accented by LED headlights and a body-color grille. Inside, the entry-level model features a 17.7-inch touchscreen and an 11-inch driver information display. The RS trim builds on the LT, with black elements similar to those found on the gas-powered Blazer RS. 21-inch black wheels create an athletic aesthetic from the ground up, and an illuminated front light bar and bowtie add a futuristic look. Inside, the RS trim includes heated and ventilated front bucket seats wrapped in perforated suede and Evotex upholstery. The mid-tier Blazer EV RS starts at $49,900. 2025 Chevrolet Blazer EV SS — Source: James Ochoa The top-spec SS trim starts at $60,600 and brings the sport-inspired styling that the moniker is known for. Aggressive design elements, including a standard black roof and functional aerodynamic enhancements, make the Blazer EV SS stand out from the rest of the range. An informational G-force screen plays into the performance model's aesthetic, and Z-Mode allows the driver to customize aspects of the Blazer EV's driving, including steering and throttle, for a more engaged experience. Final thoughts The 2025 Chevrolet Blazer and Blazer EV may share a nameplate, but they're far from being identical models. Despite sharing a badge, these crossovers differ in powertrain, technology, and styling. If price is the primary concern, the gas-powered Blazer is the clear pick, while the electrified model is the better option for long-term fuel savings. Even so, if you're in need of a family crossover, the Blazer and Blazer EV are solid choices in their respective segments. About the Author Joseph Pudlewski View Profile
The Guardian
an hour ago
- The Guardian
ESPN reportedly selling equity stake for RedZone and other NFL properties
ESPN has reached a deal with the NFL to purchase RedZone, NFL Network and other league holdings, the Athletic reported on Friday. The NFL will receive equity in ESPN that 'is potentially worth billions' in exchange, according to the report. An official announcement is expected next week, ending a four-year period of complicated, on-and-off negotiations. Both sides declined to provide comment to the Athletic. In addition to RedZone and NFL Network, ESPN will gain access to seven more regular-season games and the NFL's fantasy football operations, as well as the potential to integrate sports betting and other special features. The NFL's equity stake in ESPN could be as much as 10%, CNBC first reported and the Athletic confirmed. An ESPN-NFL deal would require regulatory approval, a process that could take up to a year to complete. The two sides already have a cozy relationship. ESPN pays the NFL about $2.7bn per year to air a total of 25 games, including Monday Night Football. The network also holds the rights to the Super Bowls in 2027 and 2031. Friday's reported agreement comes as ESPN is preparing to launch its direct-to-consumer service, with subscribers paying $29.99 per month to bypass cable and satellite providers to view all of the network's programming through the ESPN app.
