Premium Skincare Brand Colorescience Names New CEO
Former Kiehl’s general manager John Reed will lead the label, which was acquired by Roundtable Healthcare Partners earlier this year.
financial-results
Financial Markets
Calvin Klein Owner PVH Cuts Profit Forecast and Shares Fall
The company cut its adjusted profit outlook, citing a challenging macroeconomic environment and a stronger dollar. Shares fell 7.4 percent to $91.90.
Financial Markets
When Retailers Lose the Thread a $2.7 Billion Wipeout Ensues
Canada Goose, Abercrombie & Fitch and Capri Holdings posted historic stock declines this week, together erasing about $2.7 billion in market capitalisation.
Luxury
The Plan to Turn Versace and Michael Kors Into 'America's LVMH' Begins Now
This week, everyone will be talking about Capri Holdings' plans for Michael Kors and Versace, Serena Williams and Roger Federer at the French Open and the start of swimwear season. Read our BoF Professional Cheat Sheet.
Financial Markets
Victoria’s Secret Owner Shares Rise 15% as Beauty Chain Boosts Sales
Same-store sales at Bath & Body Works rose 13 percent, a performance that exceeded company expectations.
Retail
Target Quarterly Results Trounce Estimates on Higher Online Sales
The American retailer has been spending more on its same-day delivery with services in a bid to better compete with rivals Amazon and Walmart.
Retail
Nordstrom Quarterly Revenue Drops
The department store's total revenue fell 3.3 percent to $3.44 billion, falling short of analysts' estimates of $3.58 billion. Shares subsequently dropped more than 9 percent.
Financial Markets
Burberry Profit Steady Awaiting New Collections in Stores
The British fashion house expects revenue growth after positive feedback on products by Riccardo Tisci.
News & Analysis
Tapestry Announces $1B Buyback After Beating Profit Estimates
The results come off the back of better-than-expected sales of its Coach and Kate Spade handbags, which have previously suffered from a lack of new designs and heavy discounting.
Beauty
Estée Lauder Raises Outlook Again as Chinese Consumers Buy More
Skincare sales are flourishing in Asia, and the group's high-end beauty labels such as La Mer are performing well.
Retail
Next Revenue Beats Analyst Estimates
While retail sales fell 3.6 percent, online revenue rose 12 percent and full-price sales rose 4.5 percent.
Financial Markets
Sandro Owner SMCP Posts Rise in First Quarter Sales
First-quarter sales rose to €274.6 million ($306.4 million), up 9 percent from the previous year.
Luxury
Hermès Sales Growth Shows Chinese Luxury Demand Remains Healthy
The results from the French luxury brand are a further sign that the key Chinese market is still going strong.
The News in Brief
Proya Third-Quarter Revenue Grows, Profit Dented by Marketing Spend
The Chinese beauty conglomerate’s revenue grew 29.8 percent in the latest quarter, but its profit decreased by double digits due to increased promotional expenses as it expands overseas.
Michael Kors Owner Capri Soars After Raising Annual Forecasts
Shares jumped after the group raised its annual revenue and profit forecasts and said it expected sales to return to growth.
Puma Sales Slow Less Than Expected as Anta Partnership Advances
The German sportswear business is attempting to reboot its brand appeal to better compete with larger rivals Adidas and Nike.
Indian Fashion Retailer Trent Jumps as Quarterly Profits, Sales Rise
The Tata Group-owned business beat expectations, shoring up confidence in its fashion business after a period of sluggish performance.
Textured Haircare Brand The Mane Choice Names New CEO
Chasity Monroe has been appointed as the label’s chief executive as it undergoes a wider brand refresh.
APR Corp’s Quarterly Revenue Doubles on Skincare, Overseas Growth
The Korean firm and Medicube owner reported third quarter revenue growth of over 100 percent, mostly attributed to the expansion of its skincare range into new markets, channels and product categories.
Swan Beauty Names Chief Makeup Artist in Residence
Celebrity-makeup artist Ash K. Holm will join the “smart” mirror brand for a year-long partnership focusing on guidance and education.