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
Luxury
Farfetch Sees Path to Profitability — in 2021
The online luxury marketplace’s sales soared and losses narrowed, easing investors’ concerns about the company’s business model.
Farfetch Sees Path to Profitability — in 2021
The online luxury marketplace’s sales soared and losses narrowed, easing investors’ concerns about the company’s business model.
Luxury
Burberry Teams With Chinese Internet Giant Tencent as Sales Fall in Hong Kong
Brand sales declined by a double-digit percentage in Hong Kong in the latest period.
Burberry Teams With Chinese Internet Giant Tencent as Sales Fall in Hong Kong
Brand sales declined by a double-digit percentage in Hong Kong in the latest period.
Financial Markets
There’s a New Stock Market Darling in the World of Fast Fashion
British online retailer Boohoo posted a record market value of £3.3 billion, while Asos shares fall.
There’s a New Stock Market Darling in the World of Fast Fashion
British online retailer Boohoo posted a record market value of £3.3 billion, while Asos shares fall.
Financial Markets
China's JD.com Beats Revenue Estimates, Forecasts Upbeat Q3 Sales
The Chinese e-commerce company beat Wall Street's earnings estimates, with total net revenue rising by 22.9 percent and shares up by 5 percent.
China's JD.com Beats Revenue Estimates, Forecasts Upbeat Q3 Sales
The Chinese e-commerce company beat Wall Street's earnings estimates, with total net revenue rising by 22.9 percent and shares up by 5 percent.
Financial Markets
After $140 Billion Wipeout, Alibaba and Tencent Bid for Comeback
The Chinese companies are likely to rebound from trade war losses since May, with Alibaba's revenue projected to grow by 38 percent and Tencent's revenue is expected to grow by 27 percent.
After $140 Billion Wipeout, Alibaba and Tencent Bid for Comeback
The Chinese companies are likely to rebound from trade war losses since May, with Alibaba's revenue projected to grow by 38 percent and Tencent's revenue is expected to grow by 27 percent.
Financial Markets
Amazon's Big Spending Dents Profit and Trims Forecast
Amazon said it would spend $800 million in the second quarter to move to one-day delivery for its best customers, trying to maintain its fast-shipping advantage over rivals like Walmart.
Amazon's Big Spending Dents Profit and Trims Forecast
Amazon said it would spend $800 million in the second quarter to move to one-day delivery for its best customers, trying to maintain its fast-shipping advantage over rivals like Walmart.
Financial Markets
LVMH's Creative Reshuffles Pay Off
The luxury conglomerate's sales breezed past analysts’ estimates as creative revamps at its Louis Vuitton and Christian Dior fashion brands helped fuel growth.
LVMH's Creative Reshuffles Pay Off
The luxury conglomerate's sales breezed past analysts’ estimates as creative revamps at its Louis Vuitton and Christian Dior fashion brands helped fuel growth.
Financial Markets
Nike Misses Earnings Estimates for First Time in Seven Years
The sportswear manufacturer reported earnings below expectations due to higher overhead expenses and a steeper tax bill.
Nike Misses Earnings Estimates for First Time in Seven Years
The sportswear manufacturer reported earnings below expectations due to higher overhead expenses and a steeper tax bill.
Financial Markets
All Eyes On G20 As Trump and Xi Give Trade Talks Another Try
This week everyone will be talking about the trade talks at the G20 Summit, H&M's latest earnings and In Goop Health's first summit in London. Read our BoF Professional Cheat Sheet.
All Eyes On G20 As Trump and Xi Give Trade Talks Another Try
This week everyone will be talking about the trade talks at the G20 Summit, H&M's latest earnings and In Goop Health's first summit in London. Read our BoF Professional Cheat Sheet.
Retail
Lululemon Beats Quarterly Estimates and Raises Full-Year Forecast
Lululemon's total comparable sales, a key indicator for the company's business, rose 14%, while analysts on average had expected a rise of 11.6%.
Lululemon Beats Quarterly Estimates and Raises Full-Year Forecast
Lululemon's total comparable sales, a key indicator for the company's business, rose 14%, while analysts on average had expected a rise of 11.6%.
Retail
What Abercrombie & Fitch’s Reality Check Says About the State of Retail
Slow sales at the mall retailer surprised analysts who had seen the company’s turnaround as a success story.
What Abercrombie & Fitch’s Reality Check Says About the State of Retail
Slow sales at the mall retailer surprised analysts who had seen the company’s turnaround as a success story.
Financial Markets
Canada Goose Shares Slide 20% on Missing Analyst Estimates
The luxury parka brand had its the first revenue miss since going public in 2017.
Canada Goose Shares Slide 20% on Missing Analyst Estimates
The luxury parka brand had its the first revenue miss since going public in 2017.
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.