Beiersdorf Sales Slightly Miss Expectations on Nivea Weakness
The German consumer goods maker marginally missed market expectations for third-quarter sales growth on Tuesday, with its key Nivea brand posting a third straight quarterly sales decline.
earnings-report
Luxury
Farfetch Sees Path to Profitability — in 2021
The online luxury marketplace’s sales soared and losses narrowed, easing investors’ concerns about the company’s business model.
Luxury
Burberry Teams With Chinese Internet Giant Tencent as Sales Fall in Hong Kong
Brand sales declined by a double-digit percentage in Hong Kong in the latest period.
Financial Markets
There’s a New Stock Market Darling in the World of Fast Fashion
British online retailer Boohoo posted a record market value of £3.3 billion, while Asos shares fall.
Financial Markets
China's JD.com Beats Revenue Estimates, Forecasts Upbeat Q3 Sales
The Chinese e-commerce company beat Wall Street's earnings estimates, with total net revenue rising by 22.9 percent and shares up by 5 percent.
Financial Markets
After $140 Billion Wipeout, Alibaba and Tencent Bid for Comeback
The Chinese companies are likely to rebound from trade war losses since May, with Alibaba's revenue projected to grow by 38 percent and Tencent's revenue is expected to grow by 27 percent.
Financial Markets
Amazon's Big Spending Dents Profit and Trims Forecast
Amazon said it would spend $800 million in the second quarter to move to one-day delivery for its best customers, trying to maintain its fast-shipping advantage over rivals like Walmart.
Financial Markets
LVMH's Creative Reshuffles Pay Off
The luxury conglomerate's sales breezed past analysts’ estimates as creative revamps at its Louis Vuitton and Christian Dior fashion brands helped fuel growth.
Financial Markets
Nike Misses Earnings Estimates for First Time in Seven Years
The sportswear manufacturer reported earnings below expectations due to higher overhead expenses and a steeper tax bill.
Financial Markets
All Eyes On G20 As Trump and Xi Give Trade Talks Another Try
This week everyone will be talking about the trade talks at the G20 Summit, H&M's latest earnings and In Goop Health's first summit in London. Read our BoF Professional Cheat Sheet.
Retail
Lululemon Beats Quarterly Estimates and Raises Full-Year Forecast
Lululemon's total comparable sales, a key indicator for the company's business, rose 14%, while analysts on average had expected a rise of 11.6%.
Retail
What Abercrombie & Fitch’s Reality Check Says About the State of Retail
Slow sales at the mall retailer surprised analysts who had seen the company’s turnaround as a success story.
Financial Markets
Canada Goose Shares Slide 20% on Missing Analyst Estimates
The luxury parka brand had its the first revenue miss since going public in 2017.
The News in Brief
Audemars Piguet to Certify Its Pre-Owned Watches Following Rolex
Whereas Rolex is both a buyer and seller of its second-hand watches through official retail partners, Audemars is setting up a marketplace where sellers set prices.
Mike Ashley’s Frasers Says It’s Taken Control of Hugo Boss
The British retail group has pushed its stake in the German apparel brand above 50 percent in a move that will turn Hugo Boss into a subsidiary of Frasers.
Shein Agrees to Pay $100 Million to Settle US FTC Probe
The settlement, equivalent to 44 percent of the ultra fast-fashion company’s second-quarter profit, is the latest blow amid regulatory and tax crackdowns in Europe and the US that have hampered Shein’s growth.
Kering Drops 12% as Luxury Braces for Tough Winter
The recovery long promised by luxury brands seems nowhere in sight, as the expansion of war in the Middle East, along with China’s tax crackdown on the wealthy, piled further pressure on the world’s biggest luxury conglomerates in the third quarter, and executives buckled in for a tough winter.
UK Retail Sales Fall 0.4% in September, More Than Forecast
Sales fell in September as above-average temperatures hit demand for autumn clothing.
Elle Launches Moroccan Edition
Hitting newsstands in October, the magazine marks Elle’s 51st international edition, published under licence by the Geomedia group.
David’s Bridal Plans Spinoff and IPO of AI Wedding Planning Platform Pearl
Pearl, a subsidiary of David’s Bridal, will own David’s Bridal and license its intellectual property back to the bridalwear brand. David’s Bridal CEO Kelly Cook will serve as Pearl’s CEO.