The News In Brief
Riccardo Tisci Accused of Sexual Assault
A spokesperson for the designer told WWD the allegations are ‘categorically untrue.’
Amazon Forecasts Quarterly Revenue Largely Above Estimates
Amazon.com forecast second-quarter revenue above Wall Street estimates, with an expectation of net sales between $159 billion and $164 billion.
Unilever to Shutter Ren Skincare Business
The consumer goods company cited internal challenges that were exacerbated by market conditions.
Freck Beauty Founder Sells Brand, Steps Down
Under new ownership by a undisclosed group of investors, the label known for its celebrity-loved freckle pen is being operated by Nameless CPG.
Burberry Gets a Buy Rating From Citi for First Time in 17 Years
Burberry Group Plc’s shares rose as high as 4 percent after the luxury fashion house’s neutral rating turned positive for the first time since 2008.
Estée Lauder Sales Slide 10%, Forecasts Bigger-Than-Expected Drop In Annual Sales
The embattled American cosmetics giant’s sales decline was in line with expectations, though its outlook for the rest of the fiscal year disappointed investors, as demand remains soft for its premium brands.
Fine Fragrance Brand Amouage’s Sales Lift 48%
The Omani perfume house reported $100 million in retail sales in its first-quarter earnings, with growth led by its owned boutiques and fresh inroads in the US.
Louis Vuitton Names Pierre Castillon VP Communications, Strategic Planning and Digital
Castillon will report to Blake Harrop in a role merging strategic planning and performance measurement across communications activities.
Etsy Tops Quarterly Revenue Estimates on Steady Demand for Apparel, Gifts
The online marketplace beat first-quarter expectations, underscoring steady demand for handcrafted goods and its resale apparel platform, Depop.
Shein Weighs US Restructuring as Tariff Risks Cloud London IPO
The fast-fashion retailer is considering restructuring US operations amid a US-China trade war, the Financial Times reported.
Report: Burberry Is Looking for Its Next Chairman
Burberry is evaluating potential candidates to succeed Gerry Murphy as chairman, Sky News reported Tuesday.
Il Makiage Parent Raises Full-Year Outlook
Oddity now expects full year revenue to land between $790 million and $798 million, with an adjusted EBITDA of between $157 million and $161 million.