The News In Brief
The Estée Lauder Companies Taps Lisa Sequino to Lead Makeup Division
Sequino will step into a newly created role on June 9, returning to the American cosmetics conglomerate after three years working at J.Lo Beauty and sunscreen brand Supergoop.
Shein to Increase Product Safety Testing After EU Probe
After the EU warned of potential fines due to concerns about unsafe products, Shein announced plans to increase its product safety testing and compliance spending in 2025.
Foot Locker Sales Miss Ahead of Dick’s Sporting Goods Purchase
Foot Locker's sales continue to decline, creating potential challenges for Dick's Sporting Goods as it moves forward with its $2.4 billion acquisition of the struggling retailer.
US Ruling That Trump Tariffs Are Unlawful Stirs Relief and Uncertainty
A US trade court ruling against President Trump’s tariffs brings relief to financial markets but also increases global economic uncertainty as his administration announces an appeal.
Victoria’s Secret Website Down in Dayslong Unexplained Outage
The undergarments and sleepwear brand’s website displayed a black screen with the text ‘We identified an issue affecting the operation of our site.’ Some customers claim they’ve been unable to use the website since Monday.
Italy’s Golden Goose Rules Out IPO This Year, Sees Limited Impact From Tariffs
The Italian luxury sneaker maker still views a potential future market listing favourably, though it’s also open to merger and acquisition options.
LVMH Has Room to Raise Prices 2-3%, LVMH Deputy CEO Says
Deputy CEO Stephane Bianchi said the luxury conglomerate has room to raise prices of high-end products without affecting demand, but likely cannot implement price hikes for cognac or beauty products.
Dick’s Sporting Maintains Outlook Ahead of Foot Locker Deal
The activewear company said earnings per share could be as high as $14.40 for the upcoming year with comparable store sales expected to gain 1 to 3 percent, signalling strength as it prepares to acquire the struggling Foot Locker Inc.
Abercrombie Shares Surge as Strong Demand Drives First-Quarter Beat
Abercrombie & Fitch lowered its annual profit forecast despite beating first-quarter estimates and forecasting strong annual sales.
Capri Signals Selective Price Hikes on Michael Kors Handbags to Counter Tariff Hit
Capri Holdings lowered its revenue forecast for 2026 citing tariff-related uncertainty that is negatively impacting demand for its products in North America and Asia.
Macy’s Cuts Annual Profit Forecast Amid Tariff Uncertainty
Macy’s lowered its annual profit forecast due to tariff-related uncertainty and cautious consumer spending, despite beating first-quarter net revenue estimates.
Shein Working Towards Hong Kong Listing After London IPO Stalls, Say Sources
The ultra-fast-fashion giant is aiming to file a draft prospectus with Hong Kong’s stock exchange in the coming weeks, after a proposed London listing failed to secure approval from Chinese regulators, Reuters reports.