Dick’s Sporting Goods Cuts Annual Forecasts as Demand Weakens
The sports retailer cut its full-year sales and profit forecasts as a cautious consumer environment hit demand for athletic apparel and sporting goods.
earnings
Luxury
Mytheresa’s Profits Soar Ahead of Its YNAP Acquisition
The German luxury e-tailer more than doubled its adjusted earnings in its second fiscal quarter that ended in December, providing a glimpse into how it will fare once its deal to acquire its competitor, Yoox-Net-a-Porter, is approved.
Mytheresa’s Profits Soar Ahead of Its YNAP Acquisition
The German luxury e-tailer more than doubled its adjusted earnings in its second fiscal quarter that ended in December, providing a glimpse into how it will fare once its deal to acquire its competitor, Yoox-Net-a-Porter, is approved.
Retail
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.
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.
Luxury
Can Kering Bounce Back From Its ‘Annus Horribilis’?
The French group said it would close 50 stores to adapt to a slower market after fourth-quarter sales at flagship Gucci plunged 24 percent.
Can Kering Bounce Back From Its ‘Annus Horribilis’?
The French group said it would close 50 stores to adapt to a slower market after fourth-quarter sales at flagship Gucci plunged 24 percent.
Beauty
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.
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.
Luxury
This Week: The Super Bowl; Gucci at a Crossroads
Expectations are low for the struggling luxury mega brand, as parent Kering reports fourth-quarter results.
This Week: The Super Bowl; Gucci at a Crossroads
Expectations are low for the struggling luxury mega brand, as parent Kering reports fourth-quarter results.
Beauty
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.
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.
Luxury
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.
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.
Luxury
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.
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.
Luxury
Versace Parent Capri Says Turnaround to Take a Year
The parent to Michael Kors, Versace and Jimmy Choo brands expects fiscal 2025 revenue of $4.4 billion, below the $4.5 billion average analyst estimate.
Versace Parent Capri Says Turnaround to Take a Year
The parent to Michael Kors, Versace and Jimmy Choo brands expects fiscal 2025 revenue of $4.4 billion, below the $4.5 billion average analyst estimate.
Retail
Deckers Outdoor Raises Annual Net Sales Target for Second Time on Robust Demand
The company’s margins were aided by full-price sales of Hoka running shoes, which have been steadily gaining market share from Nike and Adidas.
Deckers Outdoor Raises Annual Net Sales Target for Second Time on Robust Demand
The company’s margins were aided by full-price sales of Hoka running shoes, which have been steadily gaining market share from Nike and Adidas.
Luxury
Ferragamo’s Sales Down 4% in Fourth Quarter
Sales in the North American region, which accounted for 29 percent of total revenue, were up 6.3 percent in the quarter.
Ferragamo’s Sales Down 4% in Fourth Quarter
Sales in the North American region, which accounted for 29 percent of total revenue, were up 6.3 percent in the quarter.
Beauty
Puig Posts 14% Rise in Holiday Sales
The Barcelona-based company behind perfume brands Rabanne, Carolina Herrera and Jean Paul Gaultier said net sales for the three months to Dec. 31 were 1.36 billion euros ($1.42 billion).
Puig Posts 14% Rise in Holiday Sales
The Barcelona-based company behind perfume brands Rabanne, Carolina Herrera and Jean Paul Gaultier said net sales for the three months to Dec. 31 were 1.36 billion euros ($1.42 billion).
The News in Brief
Essilorluxottica Founder’s Son Quits Management Roles After Reported Rift With CEO
Leonardo Maria Del Vecchio is stepping down as chairman of the Ray-Ban brand and as chief strategy officer, the company said, after reports of tensions with CEO Francesco Milleri.
Avon North America Acquired By Regent, Appoints New CEO
The legacy beauty brand's US and Canada divisions will join the investment firm's portfolio, which also includes Avon International.
Shein’s Purchase of Everlane Faces US National Security Review
A review by an interagency panel led by the US Treasury Department began after the $80 million transaction was completed in May, according to the people familiar with the matter.
Shein Sets IPO Date, Targets Up to $27 Billion Valuation
The company is set to debut on the Hong Kong stock exchange on Sept. 1 and is seeking to raise as much as $1.8 billion in its long-awaited IPO, according to a filing.
Marquee Brands to Acquire Roots in Go-Private Deal
The brand management company will add the Canadian lifestyle label to a growing portfolio that includes Roberto Cavalli and BCBG.
UK Retail Sales Drop for the First Time in Three Months
Scorching weather and fewer discounts discouraged shoppers and ended a recent rebound in consumer spending as retail sales fell for the first time since April.
Fashion CEO Hunsicker Gets Five Years for $300 Million Fraud
Christine Hunsicker, founder of the fashion-rental and technology company CaaStle Inc., was sentenced to five years in prison for defrauding investors out of $300 million.