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
Luxury
Ferragamo CEO Warns Turnaround May Take Longer After 2023 Sales Drop
Revenues reached €1.16 billion in 2023, a touch above the €1.15 billion estimated by analysts according to an LSEG consensus.
Ferragamo CEO Warns Turnaround May Take Longer After 2023 Sales Drop
Revenues reached €1.16 billion in 2023, a touch above the €1.15 billion estimated by analysts according to an LSEG consensus.
Luxury
LVMH’s Steady Holiday Growth Offers Reassuring Signal For Luxury
The French group seen as a bellwether for the sector expressed tempered optimism for 2024.
LVMH’s Steady Holiday Growth Offers Reassuring Signal For Luxury
The French group seen as a bellwether for the sector expressed tempered optimism for 2024.
Retail
Primark Holds Prices Steady After Rita Ora Helps Lift Sales
Globally Primark’s sales rose 7.3 percent to £3.4 billion in the period, helped by store openings in the US and Europe.
Primark Holds Prices Steady After Rita Ora Helps Lift Sales
Globally Primark’s sales rose 7.3 percent to £3.4 billion in the period, helped by store openings in the US and Europe.
Beauty
P&G’s Strong Margins Take Heat off Annual Profit Forecast Cut
The company’s net sales rose 3.2 percent, missing LSEG estimates, due to slowing demand for products including beauty brand SK-II in its second-largest market China.
P&G’s Strong Margins Take Heat off Annual Profit Forecast Cut
The company’s net sales rose 3.2 percent, missing LSEG estimates, due to slowing demand for products including beauty brand SK-II in its second-largest market China.
Retail
Birkenstock Slumps as Forecast Disappoints Some Investors
Chief executive officer Oliver Reichert has argued that Birkenstock still has plenty of room for growth following the rapid expansion of the past decade.
Birkenstock Slumps as Forecast Disappoints Some Investors
Chief executive officer Oliver Reichert has argued that Birkenstock still has plenty of room for growth following the rapid expansion of the past decade.
Luxury
Richemont Shares Surge As Demand for Cartier, Van Cleef Boosts Holiday Sales
Sales rose 8 percent year-on-year for the three months ending December 2023 to €5.6 billion, beating analyst expectations.
Richemont Shares Surge As Demand for Cartier, Van Cleef Boosts Holiday Sales
Sales rose 8 percent year-on-year for the three months ending December 2023 to €5.6 billion, beating analyst expectations.
Luxury
Watches of Switzerland Dives as Watch Shoppers Retreat
Shares of Watches of Switzerland Group Plc slumped nearly 30 percent after the top seller of Rolex watches in the UK cut its sales and growth forecasts, blaming volatile demand and a shift in luxury spending habits.
Watches of Switzerland Dives as Watch Shoppers Retreat
Shares of Watches of Switzerland Group Plc slumped nearly 30 percent after the top seller of Rolex watches in the UK cut its sales and growth forecasts, blaming volatile demand and a shift in luxury spending habits.
Luxury
Luxury’s Rebound Is Proving Elusive as China Gloom Adds to Warnings
Richemont SA will offer fresh insight on how luxury companies are coping with a sector-wide growth slump when it reports third-quarter sales on Thursday.
Luxury’s Rebound Is Proving Elusive as China Gloom Adds to Warnings
Richemont SA will offer fresh insight on how luxury companies are coping with a sector-wide growth slump when it reports third-quarter sales on Thursday.
Luxury
Hugo Boss Shares Sink as Profit Disappoints
Quarterly earnings before interest and tax came in at €121 million ($132 million), missing analysts’ average estimate of €129 million.
Hugo Boss Shares Sink as Profit Disappoints
Quarterly earnings before interest and tax came in at €121 million ($132 million), missing analysts’ average estimate of €129 million.
Beauty
German Beauty Retailer Douglas Sees Sales Grow to $1.7B in First Quarter
The company said it is on-track to hit $5.5 billion in net sales in 2026 despite the tough economic climate in Europe.
German Beauty Retailer Douglas Sees Sales Grow to $1.7B in First Quarter
The company said it is on-track to hit $5.5 billion in net sales in 2026 despite the tough economic climate in Europe.
Luxury
Is Richemont Ready to Reveal Net-a-Porter’s Future?
The Swiss luxury conglomerate reports quarterly results this week, as the failed deal to offload its struggling e-commerce unit to Farfetch looms large. That, plus what else to watch for in the coming days.
Is Richemont Ready to Reveal Net-a-Porter’s Future?
The Swiss luxury conglomerate reports quarterly results this week, as the failed deal to offload its struggling e-commerce unit to Farfetch looms large. That, plus what else to watch for in the coming days.
Luxury
Burberry Shares Plunge as Company Slashes Profit Forecast
The British trenchcoat maker's stock fell as much as 15 percent, the steepest intraday decline in more than a decade.
Burberry Shares Plunge as Company Slashes Profit Forecast
The British trenchcoat maker's stock fell as much as 15 percent, the steepest intraday decline in more than a decade.
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.