The News In Brief
Swiss Watch Exports Bounce Back in July Ahead of US Tariffs
Swiss watch exports saw growth in July, driven by increased shipments to the US ahead of higher trade tariffs, although global demand remains sluggish due to “luxury fatigue” and worsening consumer sentiment.
Coty Annual Revenue Slides 4%, Eyes Turnaround in 2026
Chief executive Sue Y. Nabi said the US conglomerate had returned to a healthier baseline as it plans to double down on fragrance mists and designer beauty launches over the next year.
Hoyeon Stars in La Beauté Louis Vuitton’s First Campaign
The luxury giant’s inaugural makeup collection was shot by Steven Meisel and features the ‘Squid Game’ actress alongside a cast of models.
Laopu Gold Sales, Profit Growth Beat on Robust China Demand
Laopu’s rapid growth comes in sharp contrast to the struggles of some high-end Western retailers in China, defying a consumer pullback in an uncertain economy.
TJ Maxx Parent Tops Expectations as Bargain Goods Still Sell
TJX has been aggressively snapping up excess merchandise from brands looking to clear out piles of unsold goods.
Guess Will Go Private in $1.4 Billion Deal With Authentic Brands
Shareholders will get $16.75 a share in cash, a 26 percent premium to the stock’s closing price on Tuesday.
Estée Lauder Forecasts Lower Profits on Tariff Impact, Full-Year Sales Decline 8%
The American beauty giant said its 2026 profits would come in below Wall Street expectations on Wednesday, and reported another year of sales declines.
Target Says Long-Time Executive Michael Fiddelke to Take Over as CEO
The company appointed Michael Fiddelke as its new CEO, who now faces the challenge of reversing weak sales and market share losses amidst consumer selectivity and new tariffs.
Bankrupt Jewellery Retailer Claire’s to Sell Its North America Business
The fashion jewellery retailer announced it would sell its North American business to private equity firm Ames Watson for an undisclosed amount, aiming to cut losses during ongoing US bankruptcy proceedings.
Pop Mart CEO Says Labubu-Maker’s Revenue Could Hit Over $4 Billion This Year
The toy company saw its half-year profits soar nearly 400 percent, driven by overwhelming demand for its collectible toys like the Labubu doll.
Viking’s GLP-1 Pill Results Mixed, Shares Slump
Phase two trials of the US biotech company's obesity pill showed weight loss of 12.2 percent but a higher rate of patient drop-off compared to a placebo.
Amer Sports Falls as Premium Outerwear Brand Arc’teryx Slows
The Finnish sporting goods conglomerate remains upbeat about the future and raised its full-year outlook for a second time this year.