The News In Brief
Shopify Drops as Cash Flow Guidance Disappoints to Start 2025
Shopify’s strong holiday sales performance was overshadowed by disappointing projections for free cash flow, causing the company’s shares to drop nearly 8 percent despite a 31 percent revenue increase in the fourth quarter.
Coty Misses Quarterly Revenue Estimates
Coty cut its annual profit forecast on Monday after missing second-quarter revenue estimates on Monday, as it grapples with slowing demand for cosmetics in the United States and a tighter control of beauty inventory by retailers.
Shein Asks Some Chinese Suppliers to Diversify to Vietnam
The fast fashion giant is offering higher procurement prices and guaranteed orders as it races to mitigate the impact of US tariffs.
Australian Beauty E-Tailer to Open 25 Stores By 2028
Adore Beauty has partnered with technology company Tutch to power its national retail expansion.
Shiseido Profits Plummet 73% on Weak China Demand
The Japanese owner of Nars and Drunk Elephant has been struggling with low consumer confidence and a boycott on Japanese-made goods in China, cratering its share price.
Area Appoints New Creative Director
The New York-based label has named Balenciaga Couture alum Nicholas Aburn creative director following co-founder Piotrek Panszczyk’s departure this week.
Gosha Rubchinskiy and Yeezy Part Ways
Rubchinskiy, who had teamed up with the rapper Kanye West to design menswear for Yeezy, is pushing ahead with plans to relaunch his namesake label later this year.
E.l.f. Beauty Shares Crater as Weakening Cosmetics Demand Dents Annual Forecasts
Demand was softer in the mass beauty channel in January, and some of E.l.f.’s newer products were “off to a slower start,” chief executive officer Tarang Amin told Reuters.
Billionaire Bettencourt Meyers to Retire From L’Oréal’s Board
Francoise Bettencourt Meyers, heir to the L’Oréal fortune, will retire from the company’s board later this year, passing her vice-chairman role to her son, Jean-Victor Meyers, in a sign of generational succession.
L’Oréal Sales Miss Estimates as China Demand Remains Weak
Sales missed expectations at 2.5 percent growth, as softened demand in the US compounded by persistent sluggishness in the Chinese market dragged down overall earnings.
Ralph Lauren’s Dresses, Polo Shirts Drive Sales Forecast Raise
The label’s wholesale business in North America recorded a 6 percent growth in third-quarter revenue, underscoring a recovery after several quarters of muted sales.
Canada Goose Trims Annual Profit Forecast on Dipping China Demand
Weak consumer spending in China, which is grappling with youth unemployment and a property crisis, has been a major concern for the luxury goods industry.