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
Financial Markets
Adidas Comeback on North America Sales Jump
Adidas reported a 26 percent rise in North American sales, underscoring a comeback that has seen the athletic-shoe maker reclaim market share in the US from Nike Inc.
Adidas Comeback on North America Sales Jump
Adidas reported a 26 percent rise in North American sales, underscoring a comeback that has seen the athletic-shoe maker reclaim market share in the US from Nike Inc.
Financial Markets
Falling Tourism Prompts Kate Spade Forecast Cut
A dearth of tourists to the US — put off visiting by the strong dollar — has slowed foot traffic, forcing the company to mark down merchandise.
Falling Tourism Prompts Kate Spade Forecast Cut
A dearth of tourists to the US — put off visiting by the strong dollar — has slowed foot traffic, forcing the company to mark down merchandise.
Financial Markets
Next Second-Quarter Sales Accelerate as Profit Outlook Tightened
The UK's second largest clothing retailer said sales accelerated on new store openings as it sharpened its sales and profit forecast for the year.
Next Second-Quarter Sales Accelerate as Profit Outlook Tightened
The UK's second largest clothing retailer said sales accelerated on new store openings as it sharpened its sales and profit forecast for the year.
Financial Markets
Macy’s, Kohl’s Fall on Concern About Slow Department-Store Sales
Shares of Macy’s, Nordstrom and Kohl’s fell after reports about weak summer sales reignited fears of a department-store slump.
Macy’s, Kohl’s Fall on Concern About Slow Department-Store Sales
Shares of Macy’s, Nordstrom and Kohl’s fell after reports about weak summer sales reignited fears of a department-store slump.
Financial Markets
L’Oréal Sales Miss Analyst Estimates on Western Europe Slowdown
L’Oréal reported second-quarter sales that missed analysts’ estimates as rising demand for its beauty products in North America was offset by worsening conditions in its home market of France.
L’Oréal Sales Miss Analyst Estimates on Western Europe Slowdown
L’Oréal reported second-quarter sales that missed analysts’ estimates as rising demand for its beauty products in North America was offset by worsening conditions in its home market of France.
Financial Markets
Gucci Turnaround Buoys Kering
French luxury-goods maker Kering reported first-half earnings that beat analysts’ estimates on rising demand for Gucci and Yves Saint Laurent, helping it shrug off lower tourism in Europe.
Gucci Turnaround Buoys Kering
French luxury-goods maker Kering reported first-half earnings that beat analysts’ estimates on rising demand for Gucci and Yves Saint Laurent, helping it shrug off lower tourism in Europe.
Financial Markets
Adidas Raises Full-Year Forecast Amid Boost From Chelsea Payment
Adidas increased its full-year forecast as brand sales benefited from the Euro 2016 soccer tournament and it pocketed a payment to end a sponsorship deal with England’s Chelsea soccer club early.
Adidas Raises Full-Year Forecast Amid Boost From Chelsea Payment
Adidas increased its full-year forecast as brand sales benefited from the Euro 2016 soccer tournament and it pocketed a payment to end a sponsorship deal with England’s Chelsea soccer club early.
Financial Markets
Puma Earnings Beat Analysts’ Estimates on Soccer and Women’s Shoes
Puma reported second-quarter profit that topped analysts’ estimates as the German sneaker maker got a lift from Europe’s soccer championships and a focus on the women’s market.
Puma Earnings Beat Analysts’ Estimates on Soccer and Women’s Shoes
Puma reported second-quarter profit that topped analysts’ estimates as the German sneaker maker got a lift from Europe’s soccer championships and a focus on the women’s market.
Financial Markets
LVMH Profit Meets Estimates Despite French Tourist Slump
LVMH Moet Hennessy Louis Vuitton SE reported first-half profit in line with analyst estimates as lower tourism flows to France offset stronger demand for its wines and spirits.
LVMH Profit Meets Estimates Despite French Tourist Slump
LVMH Moet Hennessy Louis Vuitton SE reported first-half profit in line with analyst estimates as lower tourism flows to France offset stronger demand for its wines and spirits.
Financial Markets
Under Armour Earnings Fall 57 Percent as It Expands Beyond Apparel
Under Armour's second-quarter profit fell 57 percent as the sporting-goods maker took a hit from the bankruptcy of one of its largest customers and increased spending to fuel its sales growth.
Under Armour Earnings Fall 57 Percent as It Expands Beyond Apparel
Under Armour's second-quarter profit fell 57 percent as the sporting-goods maker took a hit from the bankruptcy of one of its largest customers and increased spending to fuel its sales growth.
Financial Markets
Nike CEO’s Pay Almost Triples to $47.6 Million With Stock Award
Nike awarded chief executive officer Mark Parker $47.6 million in compensation for fiscal 2016, almost triple the level of the previous year, after stock grants buoyed his pay.
Nike CEO’s Pay Almost Triples to $47.6 Million With Stock Award
Nike awarded chief executive officer Mark Parker $47.6 million in compensation for fiscal 2016, almost triple the level of the previous year, after stock grants buoyed his pay.
Financial Markets
H&M Earnings Decline on Weakest Sales Growth in Three Years
H&M reported a decline in second-quarter earnings as the Swedish fashion retailer marked down merchandise that was not selling in Europe because of unusually wet and wintry weather.
H&M Earnings Decline on Weakest Sales Growth in Three Years
H&M reported a decline in second-quarter earnings as the Swedish fashion retailer marked down merchandise that was not selling in Europe because of unusually wet and wintry weather.
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.