Arnault Drops Out of World’s Top 10 Richest as US Tech Dominates
The LVMH chairman’s net worth fell to $143 billion on Thursday, pulling him beneath Warren Buffett, Bloomberg reported.
Earnings
Latest News & Analysis
Retail
Macy’s Raises Annual Targets as Bloomingdale’s Drives Growth
The retailer's improved outlook reflects resilience among higher-income shoppers, despite broader economic uncertainty.
Macy’s Raises Annual Targets as Bloomingdale’s Drives Growth
The retailer's improved outlook reflects resilience among higher-income shoppers, despite broader economic uncertainty.
Retail
American Eagle Shares Slide on Margin Outlook, Weak Sales at Core Brands
Shares slumped over 11 percent in premarket trading Thursday, following a flat quarterly gross-margin forecast as persistent softness at the company's core brands outweighed a second-quarter revenue beat.
American Eagle Shares Slide on Margin Outlook, Weak Sales at Core Brands
Shares slumped over 11 percent in premarket trading Thursday, following a flat quarterly gross-margin forecast as persistent softness at the company's core brands outweighed a second-quarter revenue beat.
Retail
Primark to Start Home Delivery as Sales Fall Ahead of Split
The decision is a major about-face for the budget fashion chain as it tries to stem falling sales ahead of its split from Associated British Foods.
Primark to Start Home Delivery as Sales Fall Ahead of Split
The decision is a major about-face for the budget fashion chain as it tries to stem falling sales ahead of its split from Associated British Foods.
Luxury
Louis Vuitton Loses Sales in China After Fight With Local Tea Chain
A trademark fight with a local tea maker sparked a patriotic backlash that exacerbated a demand slump for LVMH’s most profitable label.
Louis Vuitton Loses Sales in China After Fight With Local Tea Chain
A trademark fight with a local tea maker sparked a patriotic backlash that exacerbated a demand slump for LVMH’s most profitable label.
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Retail
Nike Reassures Executives That Its Stock Is Still in the S&P 500
An internal memo reviewed by Bloomberg sought to clear up misunderstandings around the brand’s coming removal from the S&P 100.
Nike Reassures Executives That Its Stock Is Still in the S&P 500
An internal memo reviewed by Bloomberg sought to clear up misunderstandings around the brand’s coming removal from the S&P 100.
Luxury
Signet Lifts View as Cautious Consumers Splurge on Jewellery
The Jared, Kay and Zales owner raised its outlook for the second time this year as demand for jewellery remains resilient even as shoppers pull back on spending elsewhere.
Signet Lifts View as Cautious Consumers Splurge on Jewellery
The Jared, Kay and Zales owner raised its outlook for the second time this year as demand for jewellery remains resilient even as shoppers pull back on spending elsewhere.
Luxury
European Luxury Stocks Face a Tough Second Half, HSBC Says
HSBC analysts downgraded LVMH and Burberry to hold as they said the second half of the year looks harder for soft luxury to navigate.
European Luxury Stocks Face a Tough Second Half, HSBC Says
HSBC analysts downgraded LVMH and Burberry to hold as they said the second half of the year looks harder for soft luxury to navigate.
Luxury
Richemont Promotes Johann Rupert’s Son in Succession Plan
The Swiss luxury group appointed Anton Rupert, 39, as non-executive co-deputy chairman in charge of creative and commercial direction, signaling a long-awaited succession plan for founder Johann Rupert is underway.
Richemont Promotes Johann Rupert’s Son in Succession Plan
The Swiss luxury group appointed Anton Rupert, 39, as non-executive co-deputy chairman in charge of creative and commercial direction, signaling a long-awaited succession plan for founder Johann Rupert is underway.
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Retail
Zara Owner’s Sales Grow, but Profit Disappoints as Expenses Mount
Inditex’s sales growth accelerated at the start of the third quarter as it continued to outpace rivals, but rising depreciation charges ate into profits.
Zara Owner’s Sales Grow, but Profit Disappoints as Expenses Mount
Inditex’s sales growth accelerated at the start of the third quarter as it continued to outpace rivals, but rising depreciation charges ate into profits.
Retail
Next Wins Appeal in UK Equal Pay Case
The landmark ruling allows the retailer to pay warehouse workers more than shop staff on the basis it costs more to recruit and retain them.
Next Wins Appeal in UK Equal Pay Case
The landmark ruling allows the retailer to pay warehouse workers more than shop staff on the basis it costs more to recruit and retain them.
Retail
Shein’s Value Down $5 Billion, Among HK’s Worst Post-IPO Weeks
Shein’s sliding market value reflects investor concerns over the fast-fashion retailer’s growth outlook.
Shein’s Value Down $5 Billion, Among HK’s Worst Post-IPO Weeks
Shein’s sliding market value reflects investor concerns over the fast-fashion retailer’s growth outlook.
Global Markets
Opinion: China’s Luxury Setback Leaves Brands Reliant on the US
A renewed slowdown in Chinese luxury spending is raising fears of another false dawn for the sector, increasing brands’ reliance on American consumers and their exposure to a US stock market correction.
Opinion: China’s Luxury Setback Leaves Brands Reliant on the US
A renewed slowdown in Chinese luxury spending is raising fears of another false dawn for the sector, increasing brands’ reliance on American consumers and their exposure to a US stock market correction.
The News in Brief
Dior and A24 Announce Two-Year Collaboration
The partnership, which will kick off at the A24-owned, New York-based Cherry Lane Theatre, will comprise live events for film and theatre featuring established and emerging creative talent.
Princess Diana’s ‘Revenge Dress’ Comes to Auction at Sotheby’s
The black silk evening dress by Greek designer Christina Stambolian could fetch close to $300,000.
Macy’s Raises Annual Targets as Bloomingdale’s Drives Growth
The retailer's improved outlook reflects resilience among higher-income shoppers, despite broader economic uncertainty.
American Eagle Shares Slide on Margin Outlook, Weak Sales at Core Brands
Shares slumped over 11 percent in premarket trading Thursday, following a flat quarterly gross-margin forecast as persistent softness at the company's core brands outweighed a second-quarter revenue beat.
Primark to Start Home Delivery as Sales Fall Ahead of Split
The decision is a major about-face for the budget fashion chain as it tries to stem falling sales ahead of its split from Associated British Foods.
Nike Reassures Executives That Its Stock Is Still in the S&P 500
An internal memo reviewed by Bloomberg sought to clear up misunderstandings around the brand’s coming removal from the S&P 100.
Jonathan Cohen Joins J. Mendel as Resident Designer
The New York-based designer is tasked with reviving the 156-year-old luxury fashion house, which filed for Chapter 11 bankruptcy in 2018.