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.
business-slowdown
Latest News & Analysis
Retail
The Art of the Crisis Pivot — and the Brands Getting it Right
Fashion brands that find their businesses upended by the pandemic are finding creative new ways to operate. Here's how they did it.
The Art of the Crisis Pivot — and the Brands Getting it Right
Fashion brands that find their businesses upended by the pandemic are finding creative new ways to operate. Here's how they did it.
Retail
UK Businesses to Lean Heavily on Government Support
Almost half of British companies expect to furlough 50 percent or more of their workforce, according to a survey, meaning reliance on a government scheme that will pay up to 80 percent of employee wages.
UK Businesses to Lean Heavily on Government Support
Almost half of British companies expect to furlough 50 percent or more of their workforce, according to a survey, meaning reliance on a government scheme that will pay up to 80 percent of employee wages.
Retail
Sports Direct Bans Media From Annual Investor Meeting
The meeting will see majority owner Mike Ashley face opposition to his re-election as a director.
Sports Direct Bans Media From Annual Investor Meeting
The meeting will see majority owner Mike Ashley face opposition to his re-election as a director.
News & Analysis
Armani Sales Fall Again as Founder Pushes to Restructure Brand
The italian luxury fashion house's revenue fell by 8 percent, sparking plans to reshuffle its sub-brand offering.
Armani Sales Fall Again as Founder Pushes to Restructure Brand
The italian luxury fashion house's revenue fell by 8 percent, sparking plans to reshuffle its sub-brand offering.
ADVERTISEMENT
Retail
New Look Losses Mount as Brexit and Rain Keep Shoppers Away
The British high street chain reported statutory loss before tax of £522.2 million for the year ended March, compared with a loss of £190.2 million a year earlier.
New Look Losses Mount as Brexit and Rain Keep Shoppers Away
The British high street chain reported statutory loss before tax of £522.2 million for the year ended March, compared with a loss of £190.2 million a year earlier.
Retail
Mulberry Hurt by House of Fraser Collapse
The British luxury bag maker swung to an annual loss as it took a £3 million ($3.77 million) hit from the collapse of department store group House of Fraser.
Mulberry Hurt by House of Fraser Collapse
The British luxury bag maker swung to an annual loss as it took a £3 million ($3.77 million) hit from the collapse of department store group House of Fraser.
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.
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.
China
What’s Ailing Mulberry?
Chief executive Thierry Andretta is trying to turn things around, but the British heritage brand is a no-show at London Fashion Week again this season after years of sluggish sales and a slumping share price.
What’s Ailing Mulberry?
Chief executive Thierry Andretta is trying to turn things around, but the British heritage brand is a no-show at London Fashion Week again this season after years of sluggish sales and a slumping share price.
ADVERTISEMENT
Retail
ASOS Confident on Profit Guidance Despite Slowing Sales Growth
The British retailer announced it was on track to make analysts' forecasts for full year profit, although sales growth for its latest trading period came in short of market expectations.
ASOS Confident on Profit Guidance Despite Slowing Sales Growth
The British retailer announced it was on track to make analysts' forecasts for full year profit, although sales growth for its latest trading period came in short of market expectations.
Retail
A Wake-Up Call for Ferragamo
Salvatore Ferragamo was once the world’s buzziest luxury shoemaker, but the storied ‘sleeping beauty’ is having trouble coming back to life.
A Wake-Up Call for Ferragamo
Salvatore Ferragamo was once the world’s buzziest luxury shoemaker, but the storied ‘sleeping beauty’ is having trouble coming back to life.
News & Analysis
Michael Kors Drops as Lower Mall Traffic Weighs on Forecast
Revenue decreased 7.4 percent in the Americas and slid 2.7 percent in Europe on a constant-currency basis.
Michael Kors Drops as Lower Mall Traffic Weighs on Forecast
Revenue decreased 7.4 percent in the Americas and slid 2.7 percent in Europe on a constant-currency basis.
News & Analysis
Macy's, Kohl's Slash 2016 Profit Forecasts Citing Weak End to Year
Macy's said the shutdown of 68 stores, a part of the 100-store closures the company had announced in August last year, may result in the layoff of about 3,900 associates.
Macy's, Kohl's Slash 2016 Profit Forecasts Citing Weak End to Year
Macy's said the shutdown of 68 stores, a part of the 100-store closures the company had announced in August last year, may result in the layoff of about 3,900 associates.
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.