De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
Baltimore, United States
Retail
Under Armour Forecasts Revenue Above Estimates
The sportswear company also announced the sale of its MyFitnessPal exercise tracking platform for $345 million.
Under Armour Forecasts Revenue Above Estimates
The sportswear company also announced the sale of its MyFitnessPal exercise tracking platform for $345 million.
Retail
Under Armour to Lay Off 600 Employees Globally
The sportswear maker expects to incur $235 million in charges, including up to $135 million for contract termination.
Under Armour to Lay Off 600 Employees Globally
The sportswear maker expects to incur $235 million in charges, including up to $135 million for contract termination.
Retail
Under Armour Beats Quarterly Estimates
The sportswear company's net revenue fell about 41 percent to $707.6 million in the second quarter, but beat forecasts of $558.5 million.
Under Armour Beats Quarterly Estimates
The sportswear company's net revenue fell about 41 percent to $707.6 million in the second quarter, but beat forecasts of $558.5 million.
Retail
Under Armour Faces Potential Investigation by the US Securities Exchange Commission
The sportswear brand said the notice is in connection to a federal probe about whether it shifted sales from quarter to quarter to meet objectives.
Under Armour Faces Potential Investigation by the US Securities Exchange Commission
The sportswear brand said the notice is in connection to a federal probe about whether it shifted sales from quarter to quarter to meet objectives.
ADVERTISEMENT
Retail
Under Armour’s Quarterly Revenue Drops 23%
The sportswear brand reported a net loss of $589.7 million the first quarter ended March 31, compared with a profit of $22.5 million a year earlier.
Under Armour’s Quarterly Revenue Drops 23%
The sportswear brand reported a net loss of $589.7 million the first quarter ended March 31, compared with a profit of $22.5 million a year earlier.
Retail
Under Armour Forecasts Surprise Fall in 2020 Sales
The sportswear brand said the coronavirus outbreak in China would have a $50 million impact on first-quarter sales.
Under Armour Forecasts Surprise Fall in 2020 Sales
The sportswear brand said the coronavirus outbreak in China would have a $50 million impact on first-quarter sales.
Financial Markets
Under Armour Faces Federal Probe Over Accounting Practices
The sportswear company confirmed on Sunday that it is assisting a federal investigation into claims it had shifted sales from quarter to quarter dating back to 2017.
Under Armour Faces Federal Probe Over Accounting Practices
The sportswear company confirmed on Sunday that it is assisting a federal investigation into claims it had shifted sales from quarter to quarter dating back to 2017.
Retail
Under Armour Now Makes Spacesuits. Is That Good Business?
The US-based sportswear brand has partnered with Virgin Group on a new collection of spacesuits.
Under Armour Now Makes Spacesuits. Is That Good Business?
The US-based sportswear brand has partnered with Virgin Group on a new collection of spacesuits.
ADVERTISEMENT
News & Analysis
Under Armour Shares Fall 10% Following Revenue Forecast Cut
The company said it expects a slight decline in North America revenue for fiscal 2019, compared with a prior forecast of flat revenue.
Under Armour Shares Fall 10% Following Revenue Forecast Cut
The company said it expects a slight decline in North America revenue for fiscal 2019, compared with a prior forecast of flat revenue.
Retail
Under Armour Raises Profit Forecast After Upbeat First Quarter
Sales in international markets, including Europe and Asia, rose 12 percent and accounted for 27 percent of overall revenue.
Under Armour Raises Profit Forecast After Upbeat First Quarter
Sales in international markets, including Europe and Asia, rose 12 percent and accounted for 27 percent of overall revenue.
Financial Markets
Under Armour Climbs as Citigroup Raises Rating
The sports retailer's stock rose 3.8 percent after Citigroup raised its rating from 'neutral' to 'buy.'
Under Armour Climbs as Citigroup Raises Rating
The sports retailer's stock rose 3.8 percent after Citigroup raised its rating from 'neutral' to 'buy.'
Retail
Under Armour Tops Profit Estimates After Decluttering Spree
Shrinking inventory by cutting underperforming products has been key to the sportswear brand's restructuring efforts.
Under Armour Tops Profit Estimates After Decluttering Spree
Shrinking inventory by cutting underperforming products has been key to the sportswear brand's restructuring efforts.
The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.