Shein Discloses FTC Probe in US, Warns of Significant Payments
According to documents the ultra-fast-fashion company filed in connection with its planned Hong Kong IPO, Shein is cooperating with the investigation and could face significant fines.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
The News in Brief
Frasers Group Takes a Position in Burberry
The billionaire Mike Ashley’s investment arm disclosed Tuesday it holds an interest worth a potential 4.2 percent of the voting rights in Burberry.
EssilorLuxottica Beats Forecasts, AI Glasses and Myopia Products Drive Growth
The Franco-Italian eyewear maker reported a 15 percent rise in first-half profit, beating expectations, while revenue growth was driven by strong demand for AI-enabled glasses myopia products.
Whoop Names Kyle Leahy Chief Commercial Officer
Leahy joins the wearables brand from Glossier, where she was chief executive for three years.
Chinese Jeweller Laopu Gold’s Shares Drop on Growth Outlook
The jeweller lost $2.1 billion in market value after forecasting first-half 2026 revenue growth of up to 66 percent, a sharp slowdown from last year that unsettled investors in one of China’s most viral consumer brands.
Unilever Lifts Outlook on Strongest Volume Growth in Over A Decade
Unilever upgraded its annual forecast on Tuesday, as consumers reached for brands like Vaseline and Dove despite household budget concerns stemming from the Iran war.
J&J to Pay $5.5 Billion to Settle Talc-Related Cancer Claims
Johnson & Johnson on Monday said it agreed to a $5.5 billion commitment to resolve years of litigation related to claims that its talc products caused ovarian cancer.
Lenzing Closes UK, Austria Sites in Turnaround Bid
The closures are the latest in a series of cost-cutting and refinancing measures at the textile maker, which has faced headwinds from competition in China and India.