(CercleFinance.com) – The Swedish company Renewcell announced on Friday that it has joined forces with the Spanish brand Zara to design a range of clothing made from its recycled textiles.
For this collaboration, the main subsidiary of the Inditex group has relied on ‘Circulose’, the material developed by Renewcell thanks to the transformation of discarded clothing, at the origin of a textile paste with which to make new fabrics.
The announcement comes as Renewcell is currently commissioning its first commercial-scale textile recycling plant at the Ortviken industrial site near Sundsvall in the east-central part of the country.
The items from this ‘capsule’ collection are available from today on the Zara merchant site.
Q22 revenue, contribution profit, and Adj. EBITDA was $991mm, $591mm, and $79.1mm respectively vs. CS $959mm, $529mm, and $15mm. Active riders were 19.9mm vs. CS 18.8mm
Lyft reported solid Q2 results that reflected a continued rebound in riders, drivers, engagement and service levels.
Riders grew 16% y/y in Q2 to 19.9M (a new post-Covid high),
The consumer experience continues to improve as Lyft noted that total active drivers are at the highest levels since the pandemic, which resulted in lower wait times and price per ride
Management also announced its FY24 adjusted EBITDA
projection of $1 billion and over $700 million of free cash flow which were both
above the Street’s expectations
4) announced a $1B adj. EBITDA by 2024 with over $700M of FCF; the street was
at $830M pre-earnings.
Finally Looks Like Back on Track With More Cost Controls
ahead
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