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.
earnings-report
Financial Markets
Tapestry Shares Rise After Earnings Beat Expectations
Same-store sales for the Coach brand surpassed analysts’ estimates, a sign the label is rebounding as executives try to re-elevate its image.
Tapestry Shares Rise After Earnings Beat Expectations
Same-store sales for the Coach brand surpassed analysts’ estimates, a sign the label is rebounding as executives try to re-elevate its image.
Beauty
Estée Lauder Extends Streak on Strength of Online, Holiday Sales
Sales surged across most of its brands in the latest quarter, with skincare, makeup and fragrances all posting double-digit gains.
Estée Lauder Extends Streak on Strength of Online, Holiday Sales
Sales surged across most of its brands in the latest quarter, with skincare, makeup and fragrances all posting double-digit gains.
Financial Markets
Amazon Sales Surge During Best Holiday Quarter Growth Since 2009
Sales gained 38 percent to $60.5 billion in the fourth quarter fuelled by the company’s dominance in e-commerce and cloud computing.
Amazon Sales Surge During Best Holiday Quarter Growth Since 2009
Sales gained 38 percent to $60.5 billion in the fourth quarter fuelled by the company’s dominance in e-commerce and cloud computing.
Financial Markets
Ralph Lauren Tumbles After Posting Weak Holiday-Season Sales
Sales declined more than expected in the American company’s latest quarter.
Ralph Lauren Tumbles After Posting Weak Holiday-Season Sales
Sales declined more than expected in the American company’s latest quarter.
Financial Markets
Ferragamo Full-Year Sales Drop 3.1 Percent
The Florence-based company's core profit margins have also been falling year-on-year.
Ferragamo Full-Year Sales Drop 3.1 Percent
The Florence-based company's core profit margins have also been falling year-on-year.
Financial Markets
SMCP Fourth-Quarter Sales Rise, Confirms Financial Targets
The French fashion group reported higher fourth-quarter revenues, driven by brisk holiday season trading and store openings, and confirmed its full-year financial targets for earnings growth.
SMCP Fourth-Quarter Sales Rise, Confirms Financial Targets
The French fashion group reported higher fourth-quarter revenues, driven by brisk holiday season trading and store openings, and confirmed its full-year financial targets for earnings growth.
Financial Markets
LVMH Posts Record Revenues Amid China Comeback
The world's biggest luxury goods maker posted an 18 percent rise in operating income for 2017, as robust demand from China boosted sales.
LVMH Posts Record Revenues Amid China Comeback
The world's biggest luxury goods maker posted an 18 percent rise in operating income for 2017, as robust demand from China boosted sales.
Financial Markets
Tiffany's $450 Silver Rulers Help Holiday Sales Rebound
The New York-based retailer's home-accessories collection contributed to its recovery.
Tiffany's $450 Silver Rulers Help Holiday Sales Rebound
The New York-based retailer's home-accessories collection contributed to its recovery.
Financial Markets
Op-Ed | Burberry's Lost in a Fashion Wilderness
The British luxury brand needs a top creative director to turn things around.
Op-Ed | Burberry's Lost in a Fashion Wilderness
The British luxury brand needs a top creative director to turn things around.
Financial Markets
Nike Remains Challenged in the US
The company has said it would improve results in its largest market by selling to fewer retailers and doing more business with chains that focus on athletic gear.
Nike Remains Challenged in the US
The company has said it would improve results in its largest market by selling to fewer retailers and doing more business with chains that focus on athletic gear.
Financial Markets
Hudson's Bay Posts Wider-Than-Expected Loss on Lower Retail Sales
The owner of the Saks Fifth Avenue luxury retailer said comparable sales during the quarter were impacted by lower traffic and deeper discounts.
Hudson's Bay Posts Wider-Than-Expected Loss on Lower Retail Sales
The owner of the Saks Fifth Avenue luxury retailer said comparable sales during the quarter were impacted by lower traffic and deeper discounts.
Financial Markets
Calvin Klein and Tommy Hilfiger Owner Beats Forecasts
PVH posted revenue of $2.36 billion in the third quarter.
Calvin Klein and Tommy Hilfiger Owner Beats Forecasts
PVH posted revenue of $2.36 billion in the third quarter.
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.