Will Jewellery Help Shape Luxury’s Winners?
As weak appetite for handbags and geopolitical tensions weigh on fashion sales, luxury groups are leaning on high-performing jewellery to help boost growth and steady profit margins.
financial-results
Retail
Adidas and Puma Forecast Sales Decline in China Amid Coronavirus Outbreak
Shares in Adidas and Puma, already pummelled in the last few weeks, declined 6 percent and 4.4 percent respectively.
Adidas and Puma Forecast Sales Decline in China Amid Coronavirus Outbreak
Shares in Adidas and Puma, already pummelled in the last few weeks, declined 6 percent and 4.4 percent respectively.
Luxury
Despite Coronavirus Concerns, Italian Owner of Margiela and Diesel Is Standing By Annual Sales Target
OTB — which stands for Only The Brave — says it expects sales to grow 12-13 percent this year, even though the recent lockdown in Italy has caused a slowdown.
Despite Coronavirus Concerns, Italian Owner of Margiela and Diesel Is Standing By Annual Sales Target
OTB — which stands for Only The Brave — says it expects sales to grow 12-13 percent this year, even though the recent lockdown in Italy has caused a slowdown.
Financial Markets
Stocks Hit As Oil Prices Slump
Trading on US stock exchanges was halted immediately after opening, as the benchmark S&P 500 fell to its lowest since June 2019.
Stocks Hit As Oil Prices Slump
Trading on US stock exchanges was halted immediately after opening, as the benchmark S&P 500 fell to its lowest since June 2019.
Retail
L Brands Predicts Losses Amid Victoria's Secret Sale
The deal with investment firm Sycamore Partners looks unlikely to curb the company's quarterly net loss of $192.3 million.
L Brands Predicts Losses Amid Victoria's Secret Sale
The deal with investment firm Sycamore Partners looks unlikely to curb the company's quarterly net loss of $192.3 million.
Technology
Shopify Forecasts Full-Year Revenue Above Estimates
For 2020, the e-commerce company predicts revenue in a range of $2.13 billion to $2.16 billion.
Shopify Forecasts Full-Year Revenue Above Estimates
For 2020, the e-commerce company predicts revenue in a range of $2.13 billion to $2.16 billion.
Luxury
Kering Halts Spending in China on Coronavirus Fears
The luxury conglomerate remained upbeat about longer-term prospects as it beat fourth-quarter sales forecasts.
Kering Halts Spending in China on Coronavirus Fears
The luxury conglomerate remained upbeat about longer-term prospects as it beat fourth-quarter sales forecasts.
Beauty
Coty's Sales Beat Wall Street Expectations
The cosmetics company's net revenue fell to $2.35 billion, surpassing analysts' estimates amid its turnaround attempt.
Coty's Sales Beat Wall Street Expectations
The cosmetics company's net revenue fell to $2.35 billion, surpassing analysts' estimates amid its turnaround attempt.
Luxury
Tod’s Fourth-Quarter Results Show Promise Despite Continued Decline in Sales
The luxury shoes and leather goods company announced sales fell by 2.6 percent in 2019 but beat analyst expectations.
Tod’s Fourth-Quarter Results Show Promise Despite Continued Decline in Sales
The luxury shoes and leather goods company announced sales fell by 2.6 percent in 2019 but beat analyst expectations.
Workplace & Talent
H&M Chief Executive Steps Down, Succeeds Father as Chairman
The news came as the fast fashion retailer reported its first rise in annual profit since 2015.
H&M Chief Executive Steps Down, Succeeds Father as Chairman
The news came as the fast fashion retailer reported its first rise in annual profit since 2015.
Retail
John Lewis Boss to Exit After Weak Christmas Sales
Sales at one of Britain's best known store chains fell by 2 percent during the holiday period.
John Lewis Boss to Exit After Weak Christmas Sales
Sales at one of Britain's best known store chains fell by 2 percent during the holiday period.
Retail
Next's Strong Christmas Boosts Hopes for UK Retail Sector
The first major stock market-listed retailer to update on Christmas trading also forecast sales and profit growth for its 2020-21 financial year.
Next's Strong Christmas Boosts Hopes for UK Retail Sector
The first major stock market-listed retailer to update on Christmas trading also forecast sales and profit growth for its 2020-21 financial year.
Financial Markets
Superdry Sees First Half Profit Wiped Out
Missteps by previous management has led the British retailer's CEO to caution that a turnaround will take up to three years.
Superdry Sees First Half Profit Wiped Out
Missteps by previous management has led the British retailer's CEO to caution that a turnaround will take up to three years.
The News in Brief
London’s Liberty Doubles Fabric Section as Sewing Booms
The department store has more than doubled the size of its fabrics department and will host crafting classes this autumn as social media drives a surge in activities like sewing.
US Businesses File Lawsuit Challenging New ‘Forced Labour’ Tariffs
Two small businesses, backed by the group that successfully sued over previous tariffs, say the new policy similarly exceeds the president’s authority to tax imports.
Perfume Maker Givaudan’s Sales Beat Estimates, Tariff Paybacks Weigh on Shares
Givaudan’s second-quarter organic sales came in ahead of market estimates on Thursday, but its shares fell 5 percent on litigation costs and tariff repayments.
Trump to Impose Forced Labour Duties on Friday as Temporary 10% US Tariffs Expire
The move is the White House’s latest effort to restore Trump’s campaign vision of a near-global tariff after the US Supreme Court in February struck down his ‘reciprocal’ duties.
LVMH Appoints General Manager of Fragrance
Givenchy executive Yann Musquin will lead the group’s fragrance portfolio, succeeding longtime division head Romain Spitzer.
India Changes Rule in Win for Foreign E-Commerce Companies
In a major win for Amazon, which lobbied for the change, the government will allow foreign e-commerce companies to buy products directly from Indian sellers and sell them to overseas customers.
Skincare Brand Prequel Appoints C-Suite
The dermatologist-developed label has named Nathalie Kristo as its first chief executive officer and Toral Patel as chief marketing officer.