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.
finance
Beauty
How Not To Ruin Your Brand Once You’ve Sold It
Is it possible to sell your brand without selling out? Sarah Brown talks to a group of key beauty founders about the new rules for navigating corporate waters and protecting your company — and yourself.
How Not To Ruin Your Brand Once You’ve Sold It
Is it possible to sell your brand without selling out? Sarah Brown talks to a group of key beauty founders about the new rules for navigating corporate waters and protecting your company — and yourself.
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.
Financial Markets
Luxury Recovery Tempered by Caution
First-half results provided further evidence of a luxury recovery, although caution over currency headwinds dampened investor enthusiasm.
Luxury Recovery Tempered by Caution
First-half results provided further evidence of a luxury recovery, although caution over currency headwinds dampened investor enthusiasm.
Financial Markets
Report: True Religion Denim Turns to Debt Restructuring Lawyers
Its financial struggles are due in part to consumer tastes shifting toward internet shopping and away from the brick-and-mortar shops and department stores where the company's jeans have been primarily sold.
Report: True Religion Denim Turns to Debt Restructuring Lawyers
Its financial struggles are due in part to consumer tastes shifting toward internet shopping and away from the brick-and-mortar shops and department stores where the company's jeans have been primarily sold.
Financial Markets
Luxury Makers’ Dubious Dividends Make Them Target for Shorts
Higher dividends at a handful of struggling posh-product makers are a luxury they may not be able to afford.
Luxury Makers’ Dubious Dividends Make Them Target for Shorts
Higher dividends at a handful of struggling posh-product makers are a luxury they may not be able to afford.
Financial Markets
Rocket Internet Shares Fall After Writing Down Value of Global Fashion Group
Rocket Internet shares fell the most in more than four months after a writedown of the value of online retailer Global Fashion Group contributed to a a first-half loss of €617 million ($690 million) at the startup factory.
Rocket Internet Shares Fall After Writing Down Value of Global Fashion Group
Rocket Internet shares fell the most in more than four months after a writedown of the value of online retailer Global Fashion Group contributed to a a first-half loss of €617 million ($690 million) at the startup factory.
Financial Markets
Lululemon 2Q Net Income Rises but Revenue Misses Estimates
Shares of Lululemon slipped in after-hours trading after the "athleisure" apparel maker's revenue missed Wall Street estimates in the second quarter.
Lululemon 2Q Net Income Rises but Revenue Misses Estimates
Shares of Lululemon slipped in after-hours trading after the "athleisure" apparel maker's revenue missed Wall Street estimates in the second quarter.
Financial Markets
Chico's Beats 2Q Profit Forecasts
Chico's FAS reported fiscal second-quarter net income of $23 million.
Chico's Beats 2Q Profit Forecasts
Chico's FAS reported fiscal second-quarter net income of $23 million.
Financial Markets
Coty Declines as Investors Wait for Post-P&G Deal Strategy
Coty Inc. shares fell the most in more than seven weeks after the company posted its second straight net loss and investors wait for more insight about its pending merger with Procter & Gamble Co.’s beauty brands.
Coty Declines as Investors Wait for Post-P&G Deal Strategy
Coty Inc. shares fell the most in more than seven weeks after the company posted its second straight net loss and investors wait for more insight about its pending merger with Procter & Gamble Co.’s beauty brands.
Financial Markets
JC Penney Reports Smaller Loss in 2Q as Sales Improve
JC Penney reported a smaller loss in the second quarter as the department store operator's sales improved, fuelled by such moves as bringing back appliances and refreshing other areas of the store.
JC Penney Reports Smaller Loss in 2Q as Sales Improve
JC Penney reported a smaller loss in the second quarter as the department store operator's sales improved, fuelled by such moves as bringing back appliances and refreshing other areas of the store.
Financial Markets
Michael Kors Provides Cautious Forecast After First-Quarter Beat
Michael Kors provided a cautious forecast for earnings and sales this year, reflecting a turbulent market for luxury goods.
Michael Kors Provides Cautious Forecast After First-Quarter Beat
Michael Kors provided a cautious forecast for earnings and sales this year, reflecting a turbulent market for luxury goods.
Financial Markets
Shopify Jumps After Raising Revenue Forecast, Beating Estimates
Shopify bumped up its annual revenue forecast for the second time this year, sending the shares up the most in almost six months.
Shopify Jumps After Raising Revenue Forecast, Beating Estimates
Shopify bumped up its annual revenue forecast for the second time this year, sending the shares up the most in almost six months.
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.