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
What’s Driving Aeffe’s Surge?
The Italian fashion and luxury group’s profits grew 144 percent in the first nine months of 2017. BoF uncovers the secrets to its success.
What’s Driving Aeffe’s Surge?
The Italian fashion and luxury group’s profits grew 144 percent in the first nine months of 2017. BoF uncovers the secrets to its success.
Retail
J. Crew's Sales Plummet, Overshadowing Growth at Madewell Brand
The company has made progress cutting expenses and boosting margins and expects to close 50 stores this year.
J. Crew's Sales Plummet, Overshadowing Growth at Madewell Brand
The company has made progress cutting expenses and boosting margins and expects to close 50 stores this year.
Financial Markets
Neiman Marcus Sees Key Sales Figure Rise for First Time in Two Years
The figure includes a 14 percent increase in online sales, which now account for about one-third of total sales.
Neiman Marcus Sees Key Sales Figure Rise for First Time in Two Years
The figure includes a 14 percent increase in online sales, which now account for about one-third of total sales.
Financial Markets
Urban Outfitters Beats Wall Street Forecasts
The parent company of Urban Outfitters and Anthropologie posted revenue of $892.8 million in the third quarter.
Urban Outfitters Beats Wall Street Forecasts
The parent company of Urban Outfitters and Anthropologie posted revenue of $892.8 million in the third quarter.
Financial Markets
Abercrombie Shares Surge on Hollister Sales Jump
Abercrombie & Fitch forecast robust sales for the holiday quarter as its surf-wear brand Hollister helped revive the previously struggling retailer.
Abercrombie Shares Surge on Hollister Sales Jump
Abercrombie & Fitch forecast robust sales for the holiday quarter as its surf-wear brand Hollister helped revive the previously struggling retailer.
Financial Markets
Gap’s Old Navy Boosts Hopes for Turnaround
Gap Inc posted third-quarter earnings that topped analysts’ estimates as comparable sales grew at both the flagship brand — the first time in 15 quarters — and value-focused Old Navy.
Gap’s Old Navy Boosts Hopes for Turnaround
Gap Inc posted third-quarter earnings that topped analysts’ estimates as comparable sales grew at both the flagship brand — the first time in 15 quarters — and value-focused Old Navy.
Retail
Wal-Mart Growth Hits Post-Recession High as It Chases Amazon
The world’s biggest retailer has now delivered 13 consecutive quarters of sales growth in its home market, helped by price cuts, cleaner stores and an aggressive push online.
Wal-Mart Growth Hits Post-Recession High as It Chases Amazon
The world’s biggest retailer has now delivered 13 consecutive quarters of sales growth in its home market, helped by price cuts, cleaner stores and an aggressive push online.
Financial Markets
L Brands Meets Third Quarter Profit Forecasts
The owner of Victoria's Secret, Bath & Body Works and other chain stores posted revenue of $2.62 billion in the period, which beat Wall Street forecasts.
L Brands Meets Third Quarter Profit Forecasts
The owner of Victoria's Secret, Bath & Body Works and other chain stores posted revenue of $2.62 billion in the period, which beat Wall Street forecasts.
Financial Markets
Farfetch Sales Jump in Road to Potential IPO
Revenues and gross profits at the fashion-tech giant grew by 74 percent each in 2016, as significant investments in China and other emerging markets come to fruition. Will it earn that reported $5 billion valuation?
Farfetch Sales Jump in Road to Potential IPO
Revenues and gross profits at the fashion-tech giant grew by 74 percent each in 2016, as significant investments in China and other emerging markets come to fruition. Will it earn that reported $5 billion valuation?
Financial Markets
Macy's Sales Disappoint but Chain Remains Optimistic Ahead of Holidays
The season marks a crossroads for the largest US department-store chain, which is trying to get back on its feet after three punishing years.
Macy's Sales Disappoint but Chain Remains Optimistic Ahead of Holidays
The season marks a crossroads for the largest US department-store chain, which is trying to get back on its feet after three punishing years.
Financial Markets
Adidas Outruns Rival Nike Even as Revenue Growth Rate Slows
Revenue increased by 8.7 percent, less than half the growth rate in the previous quarter, and operating profit advanced 35 percent to €795 million.
Adidas Outruns Rival Nike Even as Revenue Growth Rate Slows
Revenue increased by 8.7 percent, less than half the growth rate in the previous quarter, and operating profit advanced 35 percent to €795 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.