Ulta Beauty Raises 2026 Guidance as Sales Rise 8.9%
The beauty retailer’s fiscal second-quarter growth was driven by fragrance, K-beauty and store expansion, said CEO Kecia Steelman.
earnings
Luxury
Hugo Boss May Push Back 2025 Targets as Luxury Sector Falters
Shares in the company fell as much as 10 percent in July as it cut its full-year sales and earnings forecasts, citing weakening global consumer demand, especially in China and Britain.
Hugo Boss May Push Back 2025 Targets as Luxury Sector Falters
Shares in the company fell as much as 10 percent in July as it cut its full-year sales and earnings forecasts, citing weakening global consumer demand, especially in China and Britain.
Retail
Adidas Regains Momentum With Retailers on Samba Boom
The German sportswear company posted currency-neutral revenue growth of 17 percent in its wholesale business last quarter, according to a statement Wednesday.
Adidas Regains Momentum With Retailers on Samba Boom
The German sportswear company posted currency-neutral revenue growth of 17 percent in its wholesale business last quarter, according to a statement Wednesday.
Beauty
Shiseido Names Kentaro Fujiwara as CEO
Fujiwara, who is currently the beauty company’s chief operating officer, will take on the new role from Jan. 1 2025.
Shiseido Names Kentaro Fujiwara as CEO
Fujiwara, who is currently the beauty company’s chief operating officer, will take on the new role from Jan. 1 2025.
Beauty
L’Oréal Q2 Sales Rise but Depressed China Market Weighs
The Paris-based company said sales in the quarter reached 10.88 billion euros ($11.75 billion), up 5.3 percent on a like-for-like basis from a year earlier, but undershooting the 5.9 percent growth seen in a consensus compiled by Visible Alpha.
L’Oréal Q2 Sales Rise but Depressed China Market Weighs
The Paris-based company said sales in the quarter reached 10.88 billion euros ($11.75 billion), up 5.3 percent on a like-for-like basis from a year earlier, but undershooting the 5.9 percent growth seen in a consensus compiled by Visible Alpha.
Beauty
P&G Posts Surprise Sales Drop as Demand Slows Despite Price Controls
Attempts to raise prices more slowly have not been enough to win back price-conscious customers for not just P&G, but also for its CPG giant rivals Nestle and Unilever.
P&G Posts Surprise Sales Drop as Demand Slows Despite Price Controls
Attempts to raise prices more slowly have not been enough to win back price-conscious customers for not just P&G, but also for its CPG giant rivals Nestle and Unilever.
Luxury
Miu Miu Revenues Double In First Half, Extending Industry-Beating Run
Owner Prada Group reported first-half retail sales up 18 percent, spurred by red-hot Miu Miu, even as the sector's biggest groups reported falling sales.
Miu Miu Revenues Double In First Half, Extending Industry-Beating Run
Owner Prada Group reported first-half retail sales up 18 percent, spurred by red-hot Miu Miu, even as the sector's biggest groups reported falling sales.
Luxury
Armani Posts ‘Single Digit’ Sales Drop in First Half
The weakening in sales observed through the first six months of 2024 reflects “an adjustment within the luxury market,” the company said.
Armani Posts ‘Single Digit’ Sales Drop in First Half
The weakening in sales observed through the first six months of 2024 reflects “an adjustment within the luxury market,” the company said.
Retail
Deckers Outdoor Raises FY Profit Target on Strong Hoka, Ugg Demand
Deckers Outdoor raised its annual profit forecast after beating first-quarter estimates on Thursday.
Deckers Outdoor Raises FY Profit Target on Strong Hoka, Ugg Demand
Deckers Outdoor raised its annual profit forecast after beating first-quarter estimates on Thursday.
Luxury
Hermès Outshines Rivals With Big Sales Jump
Sales at the French luxury group grew to €3.7 billion ($4.02 billion), a 13 percent organic sales rise that strips out currency fluctuations.
Hermès Outshines Rivals With Big Sales Jump
Sales at the French luxury group grew to €3.7 billion ($4.02 billion), a 13 percent organic sales rise that strips out currency fluctuations.
Luxury
Italian Luxury Group Zegna Posts Flat Organic Revenue
The group said it was focusing on strategic projects to unlock Thom Browne’s long-term potential.
Italian Luxury Group Zegna Posts Flat Organic Revenue
The group said it was focusing on strategic projects to unlock Thom Browne’s long-term potential.
Luxury
Kering Weakened as Gucci Sales Fall 20%
The French group’s sales fell 11 percent as its Saint Laurent and Balenciaga units also continued to suffer, underscoring the gap with key rivals in an increasingly cut-throat luxury market.
Kering Weakened as Gucci Sales Fall 20%
The French group’s sales fell 11 percent as its Saint Laurent and Balenciaga units also continued to suffer, underscoring the gap with key rivals in an increasingly cut-throat luxury market.
Luxury
LVMH Shares Slump 6% After Missing Q2 Estimates
A lack of visibility for the second half of the year beyond the easing of comparative figures — as the Chinese post-pandemic lockdown bounce tapered off a year ago — is unlikely to improve investor sentiment regarding the high end sector, Citi analyst Thomas Chauvet said in an emailed note to clients.
LVMH Shares Slump 6% After Missing Q2 Estimates
A lack of visibility for the second half of the year beyond the easing of comparative figures — as the Chinese post-pandemic lockdown bounce tapered off a year ago — is unlikely to improve investor sentiment regarding the high end sector, Citi analyst Thomas Chauvet said in an emailed note to clients.
The News in Brief
Nike Hires Walmart Veteran Ewing as Chief Commercial Officer
Jane Ewing, who was most recently interim chief executive officer for Sam’s Club in China, will join Nike on Sept. 7.
Gap Replaces Old Navy CEO After Bigger-Than-Expected Sales Drop
Former Target and Walmart veteran Michael Francis, known in the industry as a marketing guru, will succeed current Old Navy CEO Horacio Barbeito on Nov. 2.
Inditex’s Primark Competitor Lefties Lands in the UK
The low-cost clothing brand opened its first UK store in Liverpool on Thursday, with shops in Newcastle and Essex due to follow later this year.
David Pemsel to Step Down as British Fashion Council Chairman
The UK fashion trade body has yet to name a successor.
Samsung Ordered to Pay Swatch $11.6 Million Over Copied Smartwatch Apps
The Swiss watchmaker initially sought about $170 million from the Korean technology giant for failing to prevent apps that mimicked its luxury brands on its smartwatch displays.
Kohl’s Turnaround Stalls as Sales Growth Stagnates
Kohl’s turnaround attempt showed some progress after the retailer raised its annual earnings outlook, but it still doesn’t see sales growth this year.
Abercrombie Sees Record Shares Jump After Guidance Lift
Abercrombie & Fitch Co. shares rallied after revenue topped estimates and the retailer raised its annual earnings guidance, suggesting the preppy apparel company is regaining momentum.