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The Business of Fashion

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Luxury

Richemont Drops on Signs Luxury Demand Falling in US, China

Richemont led luxury goods stocks lower amid concerns that demand in the US and China, two of the biggest markets for the industry, is starting to sputter.

Luxury

Burberry’s US Sales Fall As Aspirational Demand Weakens

Declines in the US were offset by recovery of Chinese spending, with total comparable store sales for the quarter up 18 percent.

Retail

Swatch Sets New Half-Year Sales Record Citing Lifting of Covid Curbs

Swatch Group reported record growth for the first six months of the year, benefiting from the removal of the final Covid-related restrictions in Asia, the watchmaker said on Thursday.

Global Markets

Fast Retailing Raises Forecast as Operating Profit Surges

Profit rose to 330.6 billion yen ($2.38 billion) from 271.1 billion yen in the year-earlier period.

Beauty

Why Coty Sees Its Future in France

The US-based beauty conglomerate is exploring a dual listing on the Paris Stock Exchange, citing access to new investors and a desire to shore up its French heritage. What a listing’s structure and benefits would look like remain to be seen.

Retail

Nike Shows Sales Strength; Profit Falls Just Short of Estimates

Nike Inc. reported sales that outpaced Wall Street’s expectations while profit fell just short of estimates as the company works to sell off its high stockpiles of merchandise.

Retail

Authentic Brands Gets $20 Billion Valuation in Funding Round

Authentic Brands Group Inc., parent company of Forever 21 and Reebok, has raised $500 million from growth-equity investor General Atlantic.

Retail

H&M Shares Surge on Progress Clearing Out Excess Inventory

Hennes & Mauritz AB shares rallied after the Swedish fast-fashion retailer made progress in reducing a longstanding inventory buildup, leading to greater optimism that profitability will improve.

Retail

Nike Expected to Forecast Profit Below Wall Street Estimates

Nike is expected to forecast full-year profit below Wall Street estimates, as demand for the sportswear giant’s products from wholesalers such as Foot Locker and Hibbett wanes in the United States due to still-high inflation.

Retail

JD Sports Says Still on Track Despite North American Slowdown

Despite the slowdown in its US and Canadian markets, the British retailer stuck to forecasts for pretax profit to come in at about £1.04 billion ($1.32 billion) for the 12 months to the end of January.

Retail

Primark Owner AB Foods Raises Guidance as Consumers Swallow Price Rises

Associated British Foods Plc raised its outlook for the full year as consumers battling a cost-of-living crisis manage to absorb higher prices for food, ingredients and clothing.

Retail

What H&M and Nike Can Tell Us About Fashion’s State of Play

Results from two of fashion’s biggest companies will offer clues about China’s recovery, sweeping changes in the fast fashion landscape and more. That, plus what else to watch for in the coming week.

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