Maxhosa Africa Brings Pan-Africanism to Paris Fashion Week
Creative director Laduma Ngxokolo’s label is the first South African brand to stage a full runway show on the official Paris Fashion Week calendar.
earnings
Retail
Are Americans Still Shopping?
Earnings from a host of mall brands will offer a clear picture of the strength of US retail sales. That, plus what else to watch for this week.
Retail
Ray-Ban Maker Essilorluxottica’s Sales Rise on Solid European Growth
Luxury eyewear maker EssilorLuxottica on Thursday reported a rise in fourth-quarter revenues, citing sound growth amid a challenging environment, but its performance in China declined because of Covid-19 restrictions.
China
Alibaba Beats Quarterly Revenue Estimates as Covid Curbs Ease
The company has weathered a weak economy in China, which only last December lifted its zero-Covid policy after three years.
Luxury
Lanvin Group Reports 38 Percent Revenue Increase in 2022
The report is the first time the Chinese luxury company has disclosed financial performance since its SPAC listing.
Luxury
Hermès Sales Surged Despite China Shopping Disruptions
Revenues jumped 23 percent in the fourth quarter, contributing to a 'very strong' 2022, said executive chairman Axel Dumas.
Retail
Shopify Drops as Revenue Outlook Misses Analysts’ Forecast
Shopify Inc. tumbled in after-hours trading after giving a sales outlook for the start of the year that fell short of analysts’ estimates, a sign that it face an uneven recovery from last year’s rout.
Luxury
Can Kering Get Back On Track?
Gucci’s sales dropped 15 percent during the fourth-quarter while scandal-mired Balenciaga also stalled. Still, shares rose as investors rallied behind a bullish outlook for China.
Retail
How Some Brands Are Beating the Retail Slowdown
Sales growth may be slowing for American luxury groups Capri, Tapestry and Ralph Lauren, but some have demonstrated that a healthy bottom line makes up for stagnating revenue.
Beauty
US Demand Boosts L’Oréal Fourth-Quarter Sales, China Weighs
L’Oréal posted 8.1 percent sales growth in the fourth quarter, a touch slower than in the previous three months, with firm demand in the United States and Europe helping to offset the dent from coronavirus disruptions in China.
Luxury
Ralph Lauren Beats Quarterly Revenue Estimates
Net revenue rose 1 percent to $1.83 billion in the third quarter ended Dec. 31, while analysts had expected $1.76 billion, according to Refinitiv IBES data.
Luxury
Tapestry Raises Annual Profit Forecast
The company said it now expected fiscal 2023 earnings of $3.70 to $3.75 per share, compared with its prior estimate of $3.60 to $3.70.
Beauty
Coty Raises Profit Forecast on Resilient Demand, Price Hikes
The company’s shares rose about 4 percent to $10.80 in premarket trading after also beating expectations for second-quarter revenue and profit.
The News in Brief
Shein Shares Sink to Record Low After Profit Plunge
The ultra-fast-fashion giant’s share price fell 12 percent after it reported a steep drop in first-half operating income in its inaugural earnings as a public company.
China’s Golden Week Travel Surge Masks Cautious Consumer Spending
Chinese travellers are booking longer holidays and venturing further afield for this year’s National Day holiday, but that may not translate into higher retail sales.
Revolve Launches Annual Print Magazine
The annual publication, whose inaugural issue features Kendall Jenner, Alex Consani and Teyana Taylor, will be available digitally and in stores.
Scarlett Johansson’s Skincare Brand The Outset Closes
As of Monday, the premium brand’s website has been updated with a message announcing its closure.
The CFDA Appoints Hildy Kuryk as Interim CEO
The trade body temporarily appointed Kuryk as it searches for a permanent replacement for former chief executive Steven Kolb, who resigned following a viral altercation with PETA protesters.
Marc Jacobs Appoints New Chief Marketing Officer
Hearst veteran John Wattiker joins the American fashion house as CMO on the heels of its acquisition from LVMH by WHP Global and G-III.
Vyrao Acquired by Brand Platform Tresalis
The niche perfume brand has been purchased by the new beauty operator created and backed by German investment firm Athos.