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.
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News & Analysis
Gap Raises Fourth-Quarter Earnings Outlook on Better Sales
By division, Gap's namesake stores saw the key measure unchanged, while Old Navy enjoyed a 5 percent gain. Banana Republic posted a 3 percent decline.
Gap Raises Fourth-Quarter Earnings Outlook on Better Sales
By division, Gap's namesake stores saw the key measure unchanged, while Old Navy enjoyed a 5 percent gain. Banana Republic posted a 3 percent decline.
Financial Markets
Alibaba Raises Forecast as Chinese Consumers Continue to Spend
The company increased its projection for fiscal 2017 revenue growth to 53 percent, from 48 percent previously.
Alibaba Raises Forecast as Chinese Consumers Continue to Spend
The company increased its projection for fiscal 2017 revenue growth to 53 percent, from 48 percent previously.
Retail
Target Cuts Forecast as Holiday Pain Spreads to Discounters
Target chief executive officer Brian Cornell said digital sales rose 40 percent in December but that traffic and sales trends at its stores were “disappointing.”
Target Cuts Forecast as Holiday Pain Spreads to Discounters
Target chief executive officer Brian Cornell said digital sales rose 40 percent in December but that traffic and sales trends at its stores were “disappointing.”
Financial Markets
Hugo Boss Jumps as Clothier’s Profit Guidance Brings Relief
Full-year operating profit will be nearer 17 percent than 23 percent, a range set by the company in August.
Hugo Boss Jumps as Clothier’s Profit Guidance Brings Relief
Full-year operating profit will be nearer 17 percent than 23 percent, a range set by the company in August.
Retail
Saks Fifth Avenue Owner HBC Plummets After Cutting Forecast
The company now expects sales of C$14.4 billion ($10.9 billion) to C$14.6 billion this fiscal year.
Saks Fifth Avenue Owner HBC Plummets After Cutting Forecast
The company now expects sales of C$14.4 billion ($10.9 billion) to C$14.6 billion this fiscal year.
Retail
Macy's to Cut More Than 10,000 Jobs and Close 68 Stores
Overall, Macy's said, the job reductions represent about 7 percent of its workforce.
Macy's to Cut More Than 10,000 Jobs and Close 68 Stores
Overall, Macy's said, the job reductions represent about 7 percent of its workforce.
Retail
Next Lowers Profit Forecast and Warns of Difficult Year Ahead
Next forecast pretax profit for the following fiscal year in a range of £680 million to £780 million, below estimates of about £784 million.
Next Lowers Profit Forecast and Warns of Difficult Year Ahead
Next forecast pretax profit for the following fiscal year in a range of £680 million to £780 million, below estimates of about £784 million.
News & Analysis
Zalando Raises Full-Year Forecast After Third-Quarter Profit
Zalando said the operating margin should be 5 percent to 6 percent in 2016 in a statement.
Zalando Raises Full-Year Forecast After Third-Quarter Profit
Zalando said the operating margin should be 5 percent to 6 percent in 2016 in a statement.
Financial Markets
Lululemon 2Q Net Income Rises but Revenue Misses Estimates
Shares of Lululemon slipped in after-hours trading after the "athleisure" apparel maker's revenue missed Wall Street estimates in the second quarter.
Lululemon 2Q Net Income Rises but Revenue Misses Estimates
Shares of Lululemon slipped in after-hours trading after the "athleisure" apparel maker's revenue missed Wall Street estimates in the second quarter.
Retail
Target Cuts Outlook as it Sees Fewer Customers in Stores
Target cut its profit forecast and a key sales outlook as it saw fewer customers in its stores, acknowledging it didn't push the second part of its 'Expect More, Pay Less' slogan.
Target Cuts Outlook as it Sees Fewer Customers in Stores
Target cut its profit forecast and a key sales outlook as it saw fewer customers in its stores, acknowledging it didn't push the second part of its 'Expect More, Pay Less' slogan.
Financial Markets
Michael Kors Provides Cautious Forecast After First-Quarter Beat
Michael Kors provided a cautious forecast for earnings and sales this year, reflecting a turbulent market for luxury goods.
Michael Kors Provides Cautious Forecast After First-Quarter Beat
Michael Kors provided a cautious forecast for earnings and sales this year, reflecting a turbulent market for luxury goods.
Financial Markets
China's JD.com Revenue Meets Expectations as Slowdown Continues
JD.com reported revenue for the second quarter of 2016 that was within company forecasts, even as the growth rate continued a steady decline.
China's JD.com Revenue Meets Expectations as Slowdown Continues
JD.com reported revenue for the second quarter of 2016 that was within company forecasts, even as the growth rate continued a steady decline.
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.