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
Alibaba-Backed Paytm Says It Has Enough Funds for Five Years
One97 Communications Ltd., the owner of an Indian online payment processor backed by Alibaba Group Holding Ltd.’s finance arm, said funds at its disposal were enough to last five years, enabling it to build a business model that is “predictable.”
Alibaba-Backed Paytm Says It Has Enough Funds for Five Years
One97 Communications Ltd., the owner of an Indian online payment processor backed by Alibaba Group Holding Ltd.’s finance arm, said funds at its disposal were enough to last five years, enabling it to build a business model that is “predictable.”
Financial Markets
J.C. Penney Revenue Misses Estimates, Extending Retail Woes
J.C. Penney Co. posted first-quarter revenue that trailed analysts’ estimates, becoming the latest US retailer affected by a consumer malaise that’s weighing on department-store sales.
J.C. Penney Revenue Misses Estimates, Extending Retail Woes
J.C. Penney Co. posted first-quarter revenue that trailed analysts’ estimates, becoming the latest US retailer affected by a consumer malaise that’s weighing on department-store sales.
Financial Markets
Nordstrom Plunges on Lower Forecast, Adding to Retail Woes
Nordstrom Inc. fell as much as 16 percent in late trading after cutting its annual forecast, adding to evidence that the department-store industry is mired in a deep slump.
Nordstrom Plunges on Lower Forecast, Adding to Retail Woes
Nordstrom Inc. fell as much as 16 percent in late trading after cutting its annual forecast, adding to evidence that the department-store industry is mired in a deep slump.
Financial Markets
Adidas Cuts Short Chelsea Soccer Deal, Raises Profit Forecast
Adidas is ending its shirt sponsorship deal with English soccer side Chelsea six years early as part of a shift in its marketing strategy away from clubs.
Adidas Cuts Short Chelsea Soccer Deal, Raises Profit Forecast
Adidas is ending its shirt sponsorship deal with English soccer side Chelsea six years early as part of a shift in its marketing strategy away from clubs.
Financial Markets
Zalando Invests in Tech, Cool Spring Leads to Profit Tumble
Zalando reported a 30 percent fall in first-quarter profit hurt by a cool start to spring and stepped up investment in technology by buying software firm Tradebyte to help digitalise stock in warehouses.
Zalando Invests in Tech, Cool Spring Leads to Profit Tumble
Zalando reported a 30 percent fall in first-quarter profit hurt by a cool start to spring and stepped up investment in technology by buying software firm Tradebyte to help digitalise stock in warehouses.
Financial Markets
Thrifty Tourists, Weaker China Curb Tod's Sales and Forecasts
Tod's warned it would be challenging to meet expectations of a four percent revenue increase this year, as first quarter sales fell due to weaker demand in China and shrinking tourist spending.
Thrifty Tourists, Weaker China Curb Tod's Sales and Forecasts
Tod's warned it would be challenging to meet expectations of a four percent revenue increase this year, as first quarter sales fell due to weaker demand in China and shrinking tourist spending.
Financial Markets
Inter Parfums Misses Q1 Profit Forecasts
Inter Parfums Inc. has reported first-quarter net income of $7.3 million.
Inter Parfums Misses Q1 Profit Forecasts
Inter Parfums Inc. has reported first-quarter net income of $7.3 million.
Financial Markets
Fossil Group Beats Q1 Profit Forecasts
Fossil Group Inc. has reported first-quarter profit of $5.8 million.
Fossil Group Beats Q1 Profit Forecasts
Fossil Group Inc. has reported first-quarter profit of $5.8 million.
Financial Markets
Italy's Moncler First Quarter Sales Rise More Than Expected
Moncler has reported a stronger-than-expected 18 percent rise in first quarter sales, boosted by a good performance in China and Japan and strong wholesales in the United States.
Italy's Moncler First Quarter Sales Rise More Than Expected
Moncler has reported a stronger-than-expected 18 percent rise in first quarter sales, boosted by a good performance in China and Japan and strong wholesales in the United States.
Financial Markets
Gap Plummets After Comeback Plan Fails to Revive Sales Growth
Gap Inc. shares plunged as much as 15 percent in late trading after the apparel chain posted disappointing results, a sign the company’s comeback hasn’t materialised.
Gap Plummets After Comeback Plan Fails to Revive Sales Growth
Gap Inc. shares plunged as much as 15 percent in late trading after the apparel chain posted disappointing results, a sign the company’s comeback hasn’t materialised.
Financial Markets
Cosmetics Maker Avon Posts Surprise Loss
Avon Products Inc reported a surprise quarterly loss and a 16 percent drop in revenue as demand fell further in Brazil and China.
Cosmetics Maker Avon Posts Surprise Loss
Avon Products Inc reported a surprise quarterly loss and a 16 percent drop in revenue as demand fell further in Brazil and China.
Financial Markets
Fitbit Shares Slide as Profit Forecast Misses Estimates
Fitbit Inc. shares plunged in extended trading after the maker of wearable fitness trackers gave a profit forecast that fell short of the lowest analysts’ estimates.
Fitbit Shares Slide as Profit Forecast Misses Estimates
Fitbit Inc. shares plunged in extended trading after the maker of wearable fitness trackers gave a profit forecast that fell short of the lowest analysts’ estimates.
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.