Latest news with #CU
USA Today
2 days ago
- Sport
- USA Today
Colorado's Julian Lewis receives program legend's approval to wear No. 10
Blessed to be able to wear 10 at CU @KSlash10 🐐 Before Colorado freshman quarterback Julian "JuJu" Lewis has even taken a snap for the Buffaloes, he is already acknowledging the program's legends. Lewis' No. 10 Colorado jersey was recently made available for purchase on Fanatics, with his father, T.C. Lewis, expressing gratitude to head coach Deion Sanders and the football program for allowing his son to continue wearing his number. "Little things like getting your number for kids go a long way," the elder Lewis said on social media. "Thankful for Deion Sanders and the staff at CU for how they've made Julian's transition to college life smooth." While JuJu's jerseys are available for purchase before he has even suited up for a game, he acknowledged legendary Colorado quarterback Kordell Stewart, who also donned No. 10. The dual-threat Stewart threw for 6,481 yards and 33 touchdowns in his time at CU. He also got active in the ground game, rushing for 1,289 yards and 15 touchdowns. His play, along with that of 1994 Heisman Winner Rashaan Salaam, headlined a golden era of Colorado football, which the Buffaloes have yet to live up to since. Stewart responded to Lewis, giving his approval for the five-star freshman to wear No. 10, along with gratitude and props from one quarterback to another. From day one you've been doing your thing. Proud of you and keep doing what you've been doing 10!! Let's SKOOOO 💪🏾🦬💪🏾 Lewis has yet to take the field in an official game for Colorado, but understands the weight of the number he wears. With Stewart setting the standard for what No. 10 means in Boulder, Lewis steps into big shoes and an even larger legacy. As the next quarterback to don the number, Lewis has a lot to live up to, but so far, he is doing everything the right way. Contact/Follow us@BuffaloesWire on X (formerly Twitter), and like our page on Facebook for ongoing coverage of Colorado news, notes and opinions.
The Star
3 days ago
- Business
- The Star
South Korea's convenience stores compete with ultra-cheap options as restaurant prices soar
SEOUL: As food prices keep climbing in South Korea, more people are reaching for ultra-cheap convenience foods to balance their everyday costs. Some of the most popular items now sell for less than 1,000 won (94 cents). Convenience store chains like CU and GS25 are seeing a boom in low-cost, ready-to-eat items that appeal especially to students, office workers, and low-income families. At CU, nearly one-third of all ready-made meal sales from January to April came from residential neighbourhoods, signalling that more consumers are swapping restaurants for affordable meals close to home. The strongest growth is in ultra-cheap products. CU's private-label instant noodles, 'Deuktem Ramyeon'-which means 'lucky find' - sell for just 480 won per pack. That is roughly half the price of standard instant noodles. Sales of the product jumped 37.5 per cent in the first three weeks of June compared to the same period in 2024. At GS25, another major chain, sales of items priced under 1,000 won have risen sharply for three consecutive years, including a 46.5 per cent increase in 2024. Retailers are also expanding into budget milk, eggs, and ready-made rice. Earlier in June, GS25 introduced 'Hyeja Baekmibap', a 1,000-won microwavable rice bowl. 'Hyeja' is Korean slang for items that deliver more value than expected for their price. To maintain low prices without sacrificing quality, retailers are adopting a strategy known as 'reverse development', in which the final price is set first, and the product is developed within that limit. GS25's Hyeja Baekmibap was created under this model to meet the fixed 1,000-won price point. CU has followed a similar path, releasing milk drinks priced at 880 won and 'Deuktem Eggs', a 15-egg pack priced at 4,900 won. BGF Retail reports that sales of Deuktem Eggs rose 31.5 per cent in June, as national egg prices continue to climb. The broader economic context helps explain the shift. The Bank of Korea reports that since 2021, prices for daily necessities, including food and basic goods, have increased by 19.1 per cent. That is significantly higher than the overall inflation rate of 15.9 per cent during the same period. The central bank identifies processed food costs as a key contributor to the gap. Lower-income households have been hit especially hard. According to Statistics Korea, families in the bottom 20 per cent income bracket spent an average of 434,000 won per month on food in 2024, nearly 39 per cent more than five years ago. In comparison, food spending across all households rose by about 26 per cent. - The Korea Herald/ANN
Straits Times
3 days ago
- Business
- Straits Times
South Korea's convenience stores compete with ultra-cheap options as restaurant prices soar
Retailers are also expanding into budget milk, eggs, and ready-made rice. PHOTO: AFP SEOUL - As food prices keep climbing in South Korea, more people are reaching for ultra-cheap convenience foods to balance their everyday costs. Some of the most popular items now sell for less than 1,000 won (94 cents). Convenience store chains like CU and GS25 are seeing a boom in low-cost, ready-to-eat items that appeal especially to students, office workers, and low-income families. At CU, nearly one-third of all ready-made meal sales from January to April came from residential neighbourhoods, signalling that more consumers are swapping restaurants for affordable meals close to home. The strongest growth is in ultra-cheap products. CU's private-label instant noodles, 'Deuktem Ramyeon'-which means 'lucky find' - sell for just 480 won per pack. That is roughly half the price of standard instant noodles. Sales of the product jumped 37.5 per cent in the first three weeks of June compared to the same period in 2024. At GS25, another major chain, sales of items priced under 1,000 won have risen sharply for three consecutive years, including a 46.5 per cent increase in 2024. Retailers are also expanding into budget milk, eggs, and ready-made rice. Earlier in June, GS25 introduced 'Hyeja Baekmibap', a 1,000-won microwavable rice bowl. 'Hyeja' is Korean slang for items that deliver more value than expected for their price. To maintain low prices without sacrificing quality, retailers are adopting a strategy known as 'reverse development', in which the final price is set first, and the product is developed within that limit. GS25's Hyeja Baekmibap was created under this model to meet the fixed 1,000-won price point. CU has followed a similar path, releasing milk drinks priced at 880 won and 'Deuktem Eggs', a 15-egg pack priced at 4,900 won. BGF Retail reports that sales of Deuktem Eggs rose 31.5 per cent in June, as national egg prices continue to climb. The broader economic context helps explain the shift. The Bank of Korea reports that since 2021, prices for daily necessities, including food and basic goods, have increased by 19.1 per cent. That is significantly higher than the overall inflation rate of 15.9 per cent during the same period. The central bank identifies processed food costs as a key contributor to the gap. Lower-income households have been hit especially hard. According to Statistics Korea, families in the bottom 20 per cent income bracket spent an average of 434,000 won per month on food in 2024, nearly 39 per cent more than five years ago. In comparison, food spending across all households rose by about 26 percent. THE KOREA HERALD/ ASIA NEWS NETWORK Check out ST's Food Guide for the latest foodie recommendations in Singapore.
Korea Herald
3 days ago
- Business
- Korea Herald
Convenience stores compete with ultracheap options as restaurant prices soar
As food prices keep climbing in South Korea, more people are reaching for ultra-cheap convenience foods to balance their everyday costs. Some of the most popular items now sell for less than 1,000 won (74 cents). Convenience store chains like CU and GS25 are seeing a boom in low-cost, ready-to-eat items that appeal especially to students, office workers, and low-income families. At CU, nearly one-third of all ready-made meal sales from January to April came from residential neighborhoods, signaling that more consumers are swapping restaurants for affordable meals close to home. The strongest growth is in ultra-cheap products. CU's private-label instant noodles, 'Deuktem Ramyeon'—which means 'lucky find'—sell for just 480 won per pack, about 35 cents. That's roughly half the price of standard instant noodles. Sales of the product jumped 37.5 percent in the first three weeks of June compared to the same period last year. The strongest growth is in ultra-cheap products. CU's private-label instant noodles, 'Deuktem Ramyeon,' which means 'lucky find,' sell for 480 won per pack, about 35 cents. That's roughly half the price of a standard pack of instant noodles. Sales of the product surged 37.5 percent in the first three weeks of June compared to the same period last year. At GS25, another major chain, sales of items priced under 1,000 won have risen sharply for three consecutive years, including a 46.5 percent increase in 2024. Retailers are also expanding into budget milk, eggs, and ready-made rice. Earlier this month, GS25 introduced 'Hyeja Baekmibap,' a 1,000-won microwavable rice bowl. 'Hyeja' is Korean slang for items that deliver more value than expected for their price. To maintain low prices without sacrificing quality, retailers are adopting a strategy known as 'reverse development,' in which the final price is set first and the product is developed within that limit. GS25's Hyeja Baekmibap was created under this model to meet the fixed 1,000-won price point. CU has followed a similar path, releasing milk drinks priced at 880 won and 'Deuktem Eggs,' a 15-egg pack priced at 4,900 won. BGF Retail reports that sales of Deuktem Eggs rose 31.5 percent this month, as national egg prices continue to climb. The broader economic context helps explain the shift. The Bank of Korea reports that since 2021, prices for daily necessities, including food and basic goods, have increased by 19.1 percent. That's significantly higher than the overall inflation rate of 15.9 percent during the same period. The central bank identifies processed food costs as a key contributor to the gap. Lower-income households have been hit especially hard. According to Statistics Korea, families in the bottom 20 percent income bracket spent an average of 434,000 won per month on food in 2024, nearly 39 percent more than five years ago. In comparison, food spending across all households rose by about 26 percent.
New Straits Times
5 days ago
- Business
- New Straits Times
Store expansion, earnings recovery keep Mynews on analysts' radar
KUALA LUMPUR: Analysts remain upbeat on the long-term prospects of Mynews Holdings Bhd, anchored by the consistent performance of its core Mynews brand and a gradual recovery expected in its CU Mart business. Despite softer-than-expected first-half earnings, research houses such as RHB Research and CIMB Securities are maintaining their 'Buy' recommendations, reflecting optimism about the company's ongoing turnaround and retail expansion plans. In the first half of FY2025 (1H FY2025), Mynews added 54 new outlets, representing an 8.7 per cent year-on-year growth, bringing its total store count to 676. This includes 495 Mynews stores (+24), 154 CU Mart outlets (+23), 20 WHSmith stores (unchanged), and 7 Maru Coffee outlets (+7). For the full year, the group plans to open 80 to 100 new outlets, with the majority under the Mynews banner. Analysts believe the flagship brand will continue to be a key earnings stabiliser, offsetting CU's short-term drag on performance. Mynews reported a core net profit of RM7 million for the six months ended April 30, 2025, up 61.3 per cent year-on-year. However, results fell short of expectations, meeting only 28 per cent of RHB's and 31 per cent of consensus full-year forecasts. The earnings miss was largely attributed to the slower-than-expected recovery in CU, its Korean-inspired convenience store chain. Revenue for 1H FY2025 rose 7.8 per cent year-on-year to RM418.4 million, driven by the opening of 38 stores and improved in-store sales performance, underpinned by a refreshed product mix and more efficient inventory management. Gross profit margin (GPM) improved by 1 percentage point to 38.4 per cent, reflecting enhanced wastage control, a better product assortment, and increased contributions from CU, which offers higher margins. Quarter-on-quarter, Q2 FY2025 revenue slipped 6.2 per cent to RM202.6 million, due to seasonal factors such as the Ramadan fasting period and February's shorter operating month. Core earnings fell 25.4 per cent to RM3 million, as revenue moderated and the group's food processing centre (FPC) posted a marginal RM0.4 million loss versus a RM1.1 million profit in the previous quarter. Nonetheless, GPM rose 2.3 percentage points, aided by reduced promotional activity. RHB Research remains optimistic about Mynews' recovery trajectory, underpinned by strong same-store sales growth (SSSG), expected in the low- to mid-single-digit range, and continued expansion of the Mynews store network. Increased sales volume is also expected to strengthen supplier bargaining power, support further GPM improvements, and enhance utilisation at the FPC. RHB projects CU to reach breakeven in 2025, supported by improved product curation focused on high-performing SKUs and tighter control over wastage. Reflecting a more conservative recovery timeline for CU, the research house has revised its FY2025 to FY2027 earnings forecasts downward by 23 per cent, 19 per cent, and 18 per cent, respectively, and reduced its target price to 80 sen (from 86 sen), still offering 51 per cent upside from current levels. The new TP includes a 2 per cent ESG premium and implies a 22.3x FY2026 forward P/E, aligning with the group's pre-pandemic valuation average. Meanwhile, CIMB Securities also expects a stronger quarter-on-quarter performance in 3Q FY2025, as consumer demand rebounds following the Ramadan period. CIMB similarly trimmed its EPS forecasts by 23 to 25 per cent for FY2025–2027 and lowered its target price to 73 sen. Despite the downward revisions, it maintains a 'Buy' rating, pointing to Mynews' sustained return to profitability in FY2024 and its continued earnings recovery momentum. Both research houses caution that risks to their outlook include further delays in CU's breakeven timeline, subdued consumer sentiment, and potential increases in operating costs. However, given the group's ongoing expansion, improving fundamentals, and recovering profitability, analysts believe Mynews remains well-positioned for long-term growth.
