Spain’s Puig Shares Jump on Lauder Merger Talks
Shares of the Spanish beauty group surged around 16 percent on Tuesday, on track for their best trading day on record, after announcing they were in talks over a potential merger with Estée Lauder.
earnings-report
Financial Markets
YNAP Sales Hit €1 Billion as Mobile Grows
The online luxury retailer Yoox Net-a-Porter reported first-half earnings that beat estimates as the company’s mobile platform grew to account for more than half of sales.
YNAP Sales Hit €1 Billion as Mobile Grows
The online luxury retailer Yoox Net-a-Porter reported first-half earnings that beat estimates as the company’s mobile platform grew to account for more than half of sales.
Financial Markets
Gucci Isn't the Only Brand Fuelling Growth at Kering
The luxury conglomerate's growth trend continues at an impressive pace, thanks to sales increases in nearly every region and from more brands than powerhouses Gucci and Saint Laurent.
Gucci Isn't the Only Brand Fuelling Growth at Kering
The luxury conglomerate's growth trend continues at an impressive pace, thanks to sales increases in nearly every region and from more brands than powerhouses Gucci and Saint Laurent.
Financial Markets
LVMH Profit Grows at Fastest Rate Since 2011 as Asia Rebounds
Profit from recurring operations rose 23 percent to €3.64 billion ($4.23 billion) in the first half, the French luxury goods conglomerate reported Wednesday.
LVMH Profit Grows at Fastest Rate Since 2011 as Asia Rebounds
Profit from recurring operations rose 23 percent to €3.64 billion ($4.23 billion) in the first half, the French luxury goods conglomerate reported Wednesday.
Financial Markets
Hermès Sticks to 'Ambitious' Production Goal as Sales Rise 8.3 Percent
The company is trying to respond to a rebound in demand for high-end goods by training up leather workers and adding new sites.
Hermès Sticks to 'Ambitious' Production Goal as Sales Rise 8.3 Percent
The company is trying to respond to a rebound in demand for high-end goods by training up leather workers and adding new sites.
Financial Markets
Burberry Sales Beat Estimates as CEO Gobbetti Takes Over
Strong first-quarter results give Gobbetti a boost as he seeks to benefit from a luxury goods rebound in China while overhauling the company’s US business.
Burberry Sales Beat Estimates as CEO Gobbetti Takes Over
Strong first-quarter results give Gobbetti a boost as he seeks to benefit from a luxury goods rebound in China while overhauling the company’s US business.
Financial Markets
Sales Slump at Victoria's Secret Owner L Brands
Net sales at the Victoria's Secret owner fell 6 percent in June, compared with last year during the same period, and same-store sales fell 9 percent, which is worse than industry analysts had expected.
Sales Slump at Victoria's Secret Owner L Brands
Net sales at the Victoria's Secret owner fell 6 percent in June, compared with last year during the same period, and same-store sales fell 9 percent, which is worse than industry analysts had expected.
Financial Markets
Guess Reports First-Quarter Loss
Guess shares have fallen 18 percent since the beginning of the year and on Wednesday reported a loss of $21.3 million in its fiscal first quarter.
Guess Reports First-Quarter Loss
Guess shares have fallen 18 percent since the beginning of the year and on Wednesday reported a loss of $21.3 million in its fiscal first quarter.
Financial Markets
Calvin Klein and Tommy Hilfiger Owner PVH Beats First-Quarter Forecasts
The New York-based company posted revenue of $1.99 billion in the period.
Calvin Klein and Tommy Hilfiger Owner PVH Beats First-Quarter Forecasts
The New York-based company posted revenue of $1.99 billion in the period.
Luxury
Ralph Lauren Reports $204 Million Loss in Fourth Quarter
Ralph Lauren has been struggling to turnaround sales due to sluggish spending on apparel and accessories. The company's margins have taken a hit as competition in the industry has stiffened.
Ralph Lauren Reports $204 Million Loss in Fourth Quarter
Ralph Lauren has been struggling to turnaround sales due to sluggish spending on apparel and accessories. The company's margins have taken a hit as competition in the industry has stiffened.
Luxury
Op-Ed | Burberry Needs a Creative Cure
While Burberry reported it generated cash of $897.6 million for the year ended March 31, there is little to console investors elsewhere in the business as it still has a mountain to climb to make itself a millennial must-have.
Op-Ed | Burberry Needs a Creative Cure
While Burberry reported it generated cash of $897.6 million for the year ended March 31, there is little to console investors elsewhere in the business as it still has a mountain to climb to make itself a millennial must-have.
Luxury
Burberry Profit Falls 21 Percent Ahead of New CEO Arrival
The company reported its full year pre-tax profit dropped to $599 million, on an underlying basis, underscoring the challenge that faces Marco Gobbetti when he becomes CEO in July.
Burberry Profit Falls 21 Percent Ahead of New CEO Arrival
The company reported its full year pre-tax profit dropped to $599 million, on an underlying basis, underscoring the challenge that faces Marco Gobbetti when he becomes CEO in July.
Financial Markets
Victoria's Secret Owner L Brands Tops First Quarter Forecasts
L Brands Inc. on Wednesday reported fiscal first-quarter earnings of $94.1 million.
Victoria's Secret Owner L Brands Tops First Quarter Forecasts
L Brands Inc. on Wednesday reported fiscal first-quarter earnings of $94.1 million.
The News in Brief
Oil Slides, Stocks Climb on Trump’s Iran Reprieve
Oil prices tumbled by over 8 percent after Trump said the US was in talks with Tehran to end the US-Israeli war on Iran, a claim parliamentary speaker Mohammad Baqer Ghalibaf has denied.
Puig, Estée Lauder Companies Considering Merger
The Spanish owner of Byredo, Rabanne and Charlotte Tilbury and the American conglomerate confirmed on Monday that they are in discussions to combine their businesses.
Applied Nutrition Sinks as War Disruption Poses Growth Risk
The UK supplement maker's shares slumped the most since its 2024 IPO after warning of disruption from the conflict in the Middle East, its CEO told Bloomberg.
New Luxury Store Openings Rise in Europe, Cushman Data Shows
The continent’s leading luxury retail streets saw a 13 percent rise in new outlets last year, with fierce competition for prime locations, according to Cushman & Wakefield.
Garage Clothing Owner Rides Y2K Fashion to $5.3 Billion Fortune
Andrew Lutfy, CEO and majority owner of Groupe Dynamite, saw his net worth surge to $5.3 billion after a sharp rise in shares following the company’s 2024 IPO.
Danone Acquires Protein Drinks Maker Huel in €1 Billion Deal
Huel, which counts actor Idris Elba and TV presenter Jonathan Ross among its investors, has agreed to be acquired by the French consumer goods group in a deal worth about $1.2 billion.
Qatar Investment Authority Eyes 10% Stake in Golden Goose
Qatar’s sovereign wealth fund is preparing to buy a stake in Italian sneaker maker Golden Goose, Corriere della Sera reported Saturday.