Primark to Start Home Delivery as Sales Fall Ahead of Split
The decision is a major about-face for the budget fashion chain as it tries to stem falling sales ahead of its split from Associated British Foods.
Bloomberg
Beauty
Lilly’s GLP-1 Windfall to Fund Investments in Women’s Health
The pharmaceutical giant has been assembling experts and hunting for new medicines across conditions including bone health and endometriosis, sources told Bloomberg.
Lilly’s GLP-1 Windfall to Fund Investments in Women’s Health
The pharmaceutical giant has been assembling experts and hunting for new medicines across conditions including bone health and endometriosis, sources told Bloomberg.
Luxury
Louis Vuitton Loses Sales in China After Fight With Local Tea Chain
A trademark fight with a local tea maker sparked a patriotic backlash that exacerbated a demand slump for LVMH’s most profitable label.
Louis Vuitton Loses Sales in China After Fight With Local Tea Chain
A trademark fight with a local tea maker sparked a patriotic backlash that exacerbated a demand slump for LVMH’s most profitable label.
Luxury
Richemont Promotes Johann Rupert’s Son in Succession Plan
The Swiss luxury group appointed Anton Rupert, 39, as non-executive co-deputy chairman in charge of creative and commercial direction, signaling a long-awaited succession plan for founder Johann Rupert is underway.
Richemont Promotes Johann Rupert’s Son in Succession Plan
The Swiss luxury group appointed Anton Rupert, 39, as non-executive co-deputy chairman in charge of creative and commercial direction, signaling a long-awaited succession plan for founder Johann Rupert is underway.
Global Markets
Opinion: China’s Luxury Setback Leaves Brands Reliant on the US
A renewed slowdown in Chinese luxury spending is raising fears of another false dawn for the sector, increasing brands’ reliance on American consumers and their exposure to a US stock market correction.
Opinion: China’s Luxury Setback Leaves Brands Reliant on the US
A renewed slowdown in Chinese luxury spending is raising fears of another false dawn for the sector, increasing brands’ reliance on American consumers and their exposure to a US stock market correction.
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The News in Brief
Nike Reassures Executives That Its Stock Is Still in the S&P 500
An internal memo reviewed by Bloomberg sought to clear up misunderstandings around the brand’s coming removal from the S&P 100.
Signet Lifts View as Cautious Consumers Splurge on Jewellery
The Jared, Kay and Zales owner raised its outlook for the second time this year as demand for jewellery remains resilient even as shoppers pull back on spending elsewhere.
European Luxury Stocks Face a Tough Second Half, HSBC Says
HSBC analysts downgraded LVMH and Burberry to hold as they said the second half of the year looks harder for soft luxury to navigate.
Zara Owner’s Sales Grow, but Profit Disappoints as Expenses Mount
Inditex’s sales growth accelerated at the start of the third quarter as it continued to outpace rivals, but rising depreciation charges ate into profits.
Next Wins Appeal in UK Equal Pay Case
The landmark ruling allows the retailer to pay warehouse workers more than shop staff on the basis it costs more to recruit and retain them.
L Catterton Nears Acquisition of Fitness Brand Hyrox
Private equity firm L Catterton is close to buying a controlling stake in Hyrox in a deal that may value the fitness competition brand at nearly $700 million, sources told Bloomberg.
Shein’s Value Down $5 Billion, Among HK’s Worst Post-IPO Weeks
Shein’s sliding market value reflects investor concerns over the fast-fashion retailer’s growth outlook.