Estée Lauder Raises Outlook, Buoyed by Perfume Demand
Demand for the US conglomerate’s luxury fragrance brands like Le Labo, Tom Ford and By Kilian offset weaker performance from its makeup and haircare divisions.
consumer-spending
Entrepreneurship
Chinese Tourists Set Another Record and Change Shopping in Japan
The spending power of Chinese tourists in Japan is so impressive there is a special word for it: bakugai, or explosive buying.
Retail
US Retail Sales Point to Strong Domestic Demand
US retail sales rose strongly in May as Americans bought automobiles and a range of other goods, even as they paid more for gasoline, suggesting that economic growth was gaining steam despite a sharp slowdown in job creation.
The News in Brief
Bangladesh Sets Up Wage Board as Garment Worker Unrest Shuts Factories
Violent protests over pay levels forced the closure of more than 500 factories over the weekend.
Premium Skincare Brand Colorescience Names New CEO
Former Kiehl’s general manager John Reed will lead the label, which was acquired by Roundtable Healthcare Partners earlier this year.
Proya Third-Quarter Revenue Grows, Profit Dented by Marketing Spend
The Chinese beauty conglomerate’s revenue grew 29.8 percent in the latest quarter, but its profit decreased by double digits due to increased promotional expenses as it expands overseas.
Michael Kors Owner Capri Soars After Raising Annual Forecasts
Shares jumped after the group raised its annual revenue and profit forecasts and said it expected sales to return to growth.
Puma Sales Slow Less Than Expected as Anta Partnership Advances
The German sportswear business is attempting to reboot its brand appeal to better compete with larger rivals Adidas and Nike.
Indian Fashion Retailer Trent Jumps as Quarterly Profits, Sales Rise
The Tata Group-owned business beat expectations, shoring up confidence in its fashion business after a period of sluggish performance.
Textured Haircare Brand The Mane Choice Names New CEO
Chasity Monroe has been appointed as the label’s chief executive as it undergoes a wider brand refresh.