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.
Cincinnati, United States
Retail
Macy's to Cut 3,900 Jobs to Help Counter Covid-19 Losses
The department store chain said it expects to save about $365 million in fiscal 2020 as a result of the layoffs.
Macy's to Cut 3,900 Jobs to Help Counter Covid-19 Losses
The department store chain said it expects to save about $365 million in fiscal 2020 as a result of the layoffs.
Retail
Macy's Warns of up to $1 Billion Quarterly Loss
The department store operator forecast first-quarter sales between $3 billion to $3.03 billion, down from $5.50 billion a year earlier.
Macy's Warns of up to $1 Billion Quarterly Loss
The department store operator forecast first-quarter sales between $3 billion to $3.03 billion, down from $5.50 billion a year earlier.
Retail
Macy’s Sales Beat Estimates
The positive results follow the department store's announcement that it will close several offices and stores to cut costs and boost growth.
Macy’s Sales Beat Estimates
The positive results follow the department store's announcement that it will close several offices and stores to cut costs and boost growth.
Retail
Macy's Cuts Forecast After Sales Drop
The department store chain posted a 3.5 percent decline in same-store sales for Q3, compared to the 1 percent drop analysts had expected.
Macy's Cuts Forecast After Sales Drop
The department store chain posted a 3.5 percent decline in same-store sales for Q3, compared to the 1 percent drop analysts had expected.
ADVERTISEMENT
Retail
Macy's Sees Savings of up to $550 Million
As the retailer spends heavily on remodelling stores and building online businesses, targeted promotions and better pricing have projected large savings in the next two to four years.
Macy's Sees Savings of up to $550 Million
As the retailer spends heavily on remodelling stores and building online businesses, targeted promotions and better pricing have projected large savings in the next two to four years.
Retail
Macy’s CEO Assures Tariffs Will Only Hit Profits by 5 Cents a Share
Chief Executive Jeff Gennette said looming US tariffs will reduce per-share profits by a maximum of five cents and assures it is not a big impact.
Macy’s CEO Assures Tariffs Will Only Hit Profits by 5 Cents a Share
Chief Executive Jeff Gennette said looming US tariffs will reduce per-share profits by a maximum of five cents and assures it is not a big impact.
Beauty
P&G Shares Rise After Posting Best Sales Growth in at Least a Decade
The grooming business increased sales by 4 percent, shoring up a key area of concern for the company that had failed to keep pace with other units.
P&G Shares Rise After Posting Best Sales Growth in at Least a Decade
The grooming business increased sales by 4 percent, shoring up a key area of concern for the company that had failed to keep pace with other units.
Beauty
P&G Sales and Profit Beat Estimates
The beauty business saw a 9 percent rise in organic sales, helped by the premium SK-II brand.
P&G Sales and Profit Beat Estimates
The beauty business saw a 9 percent rise in organic sales, helped by the premium SK-II brand.
ADVERTISEMENT
Retail
Macy's Shares Rise as Investors Applaud Plan to Streamline Business
While the company said it can achieve growth in comparable-store sales, it won’t come immediately.
Macy's Shares Rise as Investors Applaud Plan to Streamline Business
While the company said it can achieve growth in comparable-store sales, it won’t come immediately.
Retail
Macy’s CEO on Reinventing the Store
In a bid to thwart off-price competitors and refresh the store experience, Jeff Gennette is focused on removing pain points and friction while tapping into the magic of radiated sales.
Macy’s CEO on Reinventing the Store
In a bid to thwart off-price competitors and refresh the store experience, Jeff Gennette is focused on removing pain points and friction while tapping into the magic of radiated sales.
Retail
Macy's Boosts Annual Earnings Forecast Ahead of Holiday Season
Despite increasing competition online, the retailer surpassed expectations last quarter and has upped its adjusted earning forecast to $4.10 to $4.30 per share.
Macy's Boosts Annual Earnings Forecast Ahead of Holiday Season
Despite increasing competition online, the retailer surpassed expectations last quarter and has upped its adjusted earning forecast to $4.10 to $4.30 per share.
Beauty
Procter & Gamble Posts Sales Rise
The company reported a surprise rise in first-quarter sales to $16.69 billion after strong demand for its beauty products and cleaning supplies.
Procter & Gamble Posts Sales Rise
The company reported a surprise rise in first-quarter sales to $16.69 billion after strong demand for its beauty products and cleaning supplies.
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.