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
Sales Growth at Hermès Picks up Pace in Third Quarter
Sales growth in Asia, Hermes' biggest region by revenues, was stable from one quarter to the next, while demand picked up in Europe and the US.
Sales Growth at Hermès Picks up Pace in Third Quarter
Sales growth in Asia, Hermes' biggest region by revenues, was stable from one quarter to the next, while demand picked up in Europe and the US.
Financial Markets
Tapestry Misses Revenue Estimates on Surprise Drop in Coach Sales
The luxury goods maker said sales were hit by inventory issues and hurricanes in North America and typhoons in Asia.
Tapestry Misses Revenue Estimates on Surprise Drop in Coach Sales
The luxury goods maker said sales were hit by inventory issues and hurricanes in North America and typhoons in Asia.
Luxury
Michael Kors Lifts Revenue Forecast, Benefiting From Jimmy Choo
Second-quarter revenue rose 5.4 percent to $1.15 billion, marking the first increase in more than a year.
Michael Kors Lifts Revenue Forecast, Benefiting From Jimmy Choo
Second-quarter revenue rose 5.4 percent to $1.15 billion, marking the first increase in more than a year.
Retail
Michael Kors Hopes to Win Customers with Experiences
Michael Kors’ turnaround plan hinges on making its customers feel like they’re being personally dressed by its namesake designer — even if they aren’t.
Michael Kors Hopes to Win Customers with Experiences
Michael Kors’ turnaround plan hinges on making its customers feel like they’re being personally dressed by its namesake designer — even if they aren’t.
News & Analysis
There's a Glimmer of Hope Amid Neiman Marcus' Sales Decline
"Revenue in the period slipped 0.5 percent, after it had dropped in the mid- to high-single digits over the previous quarters."
There's a Glimmer of Hope Amid Neiman Marcus' Sales Decline
"Revenue in the period slipped 0.5 percent, after it had dropped in the mid- to high-single digits over the previous quarters."
Financial Markets
LVMH Trumps Third Quarter Forecast
Revenues grew 12 percent to €30.1 billion at the French conglomerate, despite the strengthening euro putting tourists off spending in many European destinations.
LVMH Trumps Third Quarter Forecast
Revenues grew 12 percent to €30.1 billion at the French conglomerate, despite the strengthening euro putting tourists off spending in many European destinations.
Financial Markets
Nike's Relies on China Sales Amidst US Slump
Nike's US business continued to sputter last quarter, putting extra pressure on overseas markets like China and Latin America to pick up the slack.
Nike's Relies on China Sales Amidst US Slump
Nike's US business continued to sputter last quarter, putting extra pressure on overseas markets like China and Latin America to pick up the slack.
Financial Markets
While Richemont Sales Beat Expectations, its Leadership Crisis Ensues
Georges Kern's successor has still not been named, suggesting outsiders may be reluctant to take on the challenging task of heading up the company's watchmaking division.
While Richemont Sales Beat Expectations, its Leadership Crisis Ensues
Georges Kern's successor has still not been named, suggesting outsiders may be reluctant to take on the challenging task of heading up the company's watchmaking division.
Financial Markets
Ahead of Michael Kors Takeover, Jimmy Choo's Profit Almost Triples
The luxury shoemaker reported its pre-tax profit for the half year hit £18.1 million, helped by its retail and licensing businesses, as well as demand for its men's offering.
Ahead of Michael Kors Takeover, Jimmy Choo's Profit Almost Triples
The luxury shoemaker reported its pre-tax profit for the half year hit £18.1 million, helped by its retail and licensing businesses, as well as demand for its men's offering.
Financial Markets
Abercrombie & Fitch Looks to Hollister for Lessons in Tapping Gen-Z
While the struggling mall retailer has been bolstered by good results from teen friendly Hollister, its namesake brand is still working to find its footing. CEO Fran Horowitz outlines the plan for BoF.
Abercrombie & Fitch Looks to Hollister for Lessons in Tapping Gen-Z
While the struggling mall retailer has been bolstered by good results from teen friendly Hollister, its namesake brand is still working to find its footing. CEO Fran Horowitz outlines the plan for BoF.
Financial Markets
J. Crew Names New CFO as Sales Drop Deepens
J. Crew’s total revenue fell 2 percent to $560.9 million for the quarter ended July 29, while sales at stores open at least a year declined 5 percent.
J. Crew Names New CFO as Sales Drop Deepens
J. Crew’s total revenue fell 2 percent to $560.9 million for the quarter ended July 29, while sales at stores open at least a year declined 5 percent.
Financial Markets
Chanel Sees Dip in Sales, Profits
Chanel International BV — a Dutch holding company that is part of the Chanel empire —saw a year-on-year loss of 9 percent in 2016, with a turnover of $5.67 billion, according to new reports.
Chanel Sees Dip in Sales, Profits
Chanel International BV — a Dutch holding company that is part of the Chanel empire —saw a year-on-year loss of 9 percent in 2016, with a turnover of $5.67 billion, according to new reports.
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.