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The Business of Fashion

financial-results

Financial Markets

Kering Shares Slide as Gucci's Growth Slows

Shares fell nearly 6 percent after signs of a slowdown at the French conglomerate's cash cow Gucci.

Financial Markets

Valentino Revenue Growth Slowed in 2018

The Italian group's revenues totalled around €1.2 billion ($1.36 billion) last year, said chief executive Stefano Sassi.

Luxury

Designer Debuts Pay Off For LVMH in First Quarter

The conglomerate set a high bar for tapping into Chinese demand for luxury, reporting revenue of €12.5 billion up 11 percent on a like-for-like basis.

Retail

H&M First-Quarter Earnings Beat Estimates on Fewer Discounts

Pretax profit fell 17 percent to 1.04 billion Swedish krona ($112 million) despite the retailer introducing new products at lower prices to try to avoid massive discounts later.

Financial Markets

SMCP Expects Slower Growth as French Protests Drag On

The French fashion group, which owns Sandro and Maje, forecast more moderate sales growth in 2019 as street protests rock France and Britain's messy EU exit spreads uncertainty.

Financial Markets

Ted Baker Posts First Annual Profit Drop Since Financial Crisis

The British fashion retailer reported pretax profit of £50.9 million, down 26.1 percent, as discounting and uncertainty on Britain's high street weighed on the company.

Financial Markets

Levi Strauss Valued at $6.6 Billion as IPO Tops Target

Set to debut on the NYSE Thursday, Levi's sold $623.3 million in shares in its IPO with shares priced at $17, above the target range of $14 to $16.

Financial Markets

Hermès Still Benefiting From Buoyant Asian Demand

Along with Louis Vuitton and Gucci, Hermès is still riding high on strong demand from Asian clients with net profit up 15 percent to €1.4 billion and operating income up 6 percent to €2 billion.

Financial Markets

Asos Maintains Full-Year Outlook After December Profit Warning

The e-tailer will cut prices and raise marketing spending in France and Germany, and look to improve its US business after unexpectedly high demand there caused significant dispatch backlog.

China

Prada Shares Tumble as China Slowdown Hits Profits

The company’s operating profit fell 10 percent to €323.8 million, shares slumped 7.2 percent in early Hong Kong trading and the stock has dropped about 35 percent in the past year.

Financial Markets

Abercrombie Soars on Upbeat Forecast as Sales Top Estimates

Comparable sales increased for a sixth consecutive quarter climbing more than double analysts’ predictions, and net sales are set to rise 2 to 4 percent this year.

Financial Markets

Debenhams Plunges After Scrapping Forecasts

Despite securing a temporary lifeline from lenders, the UK department-store chain scrapped its profit guidance and shares plunged 12 percent marking the fourth profit warning since early 2018.

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