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
Beauty
Coty Misses First-Quarter Forecasts
The beauty products company posted revenue of $1.08 billion in the period.
Coty Misses First-Quarter Forecasts
The beauty products company posted revenue of $1.08 billion in the period.
Financial Markets
Burberry First-Half Profit Drops as Asia Weighs on Luxury Maker
Adjusted pretax profit fell 4 percent to £146 million ($182 million) in the six months through September.
Burberry First-Half Profit Drops as Asia Weighs on Luxury Maker
Adjusted pretax profit fell 4 percent to £146 million ($182 million) in the six months through September.
Financial Markets
HSN Misses Third-Quarter Profit Forecasts
The home shopping network operator posted revenue of $823 million in the period.
HSN Misses Third-Quarter Profit Forecasts
The home shopping network operator posted revenue of $823 million in the period.
Retail
Sears, Claire’s at High Risk in Fitch Study of Retail Failures
Sears Holdings, Claire’s Stores and Nine West Holdings are among seven chains at high risk of defaulting within a year as shoppers shift to online merchants and spend more on experiences.
Sears, Claire’s at High Risk in Fitch Study of Retail Failures
Sears Holdings, Claire’s Stores and Nine West Holdings are among seven chains at high risk of defaulting within a year as shoppers shift to online merchants and spend more on experiences.
Retail
Ann Taylor Owner Falls as Slowing Traffic Prompts Weak Forecast
Ascena Retail, owner of the Ann Taylor, Maurices and Lane Bryant women’s clothing chains, fell as much as 24 percent in early trading after forecasting that weak traffic to its stores will continue to weigh on earnings.
Ann Taylor Owner Falls as Slowing Traffic Prompts Weak Forecast
Ascena Retail, owner of the Ann Taylor, Maurices and Lane Bryant women’s clothing chains, fell as much as 24 percent in early trading after forecasting that weak traffic to its stores will continue to weigh on earnings.
Financial Markets
Rocket Internet Shares Fall After Writing Down Value of Global Fashion Group
Rocket Internet shares fell the most in more than four months after a writedown of the value of online retailer Global Fashion Group contributed to a a first-half loss of €617 million ($690 million) at the startup factory.
Rocket Internet Shares Fall After Writing Down Value of Global Fashion Group
Rocket Internet shares fell the most in more than four months after a writedown of the value of online retailer Global Fashion Group contributed to a a first-half loss of €617 million ($690 million) at the startup factory.
Retail
J. Crew Sales Tumble as Preppy Chain Struggles With Slow Traffic
J. Crew Group Inc.’s sales tumbled last quarter after the preppy-apparel chain struggled to win back customers and pull out of a two-year slump.
J. Crew Sales Tumble as Preppy Chain Struggles With Slow Traffic
J. Crew Group Inc.’s sales tumbled last quarter after the preppy-apparel chain struggled to win back customers and pull out of a two-year slump.
Retail
Sycamore’s Nine West Shoe Chain Trips Over Rising Debt Hurdle
Nine West, the footwear chain owned by Sycamore Partners LLC, is stumbling toward a financial reckoning as shifting fashions and weak earnings leave the company mired in debt.
Sycamore’s Nine West Shoe Chain Trips Over Rising Debt Hurdle
Nine West, the footwear chain owned by Sycamore Partners LLC, is stumbling toward a financial reckoning as shifting fashions and weak earnings leave the company mired in debt.
Financial Markets
Abercrombie Falls After Tourism Pullback Weighs on Results
Abercrombie & Fitch fell as much as 18 percent after slow sales at flagship locations weighed on its latest results and outlook, sparking concerns that its turnaround is sputtering.
Abercrombie Falls After Tourism Pullback Weighs on Results
Abercrombie & Fitch fell as much as 18 percent after slow sales at flagship locations weighed on its latest results and outlook, sparking concerns that its turnaround is sputtering.
Financial Markets
G-III Apparel Reports 2Q Loss
G-III Apparel reported a fiscal second-quarter loss of $1.3 million, after reporting a profit in the same period a year earlier.
G-III Apparel Reports 2Q Loss
G-III Apparel reported a fiscal second-quarter loss of $1.3 million, after reporting a profit in the same period a year earlier.
Financial Markets
Prada Sales Slide on Weak Demand
Prada SpA reported the first decline in opening-half sales since its 2011 listing as weak demand in China and terrorist attacks in Europe weighed on the Italian luxury-goods maker.
Prada Sales Slide on Weak Demand
Prada SpA reported the first decline in opening-half sales since its 2011 listing as weak demand in China and terrorist attacks in Europe weighed on the Italian luxury-goods maker.
Financial Markets
Signet Misses Second Quarter Forecasts
Signet Jewellers Ltd. on Thursday reported fiscal second-quarter net income of $81.9 million.
Signet Misses Second Quarter Forecasts
Signet Jewellers Ltd. on Thursday reported fiscal second-quarter net income of $81.9 million.
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.