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.
financial-results
News & Analysis
JD Sports Counters Retail Gloom with Athleisure Trend and Global Expansion
Britain's biggest sports retailer reported better-than-expected full-year earnings and like-for-like growth despite British retail sector slowdown.
JD Sports Counters Retail Gloom with Athleisure Trend and Global Expansion
Britain's biggest sports retailer reported better-than-expected full-year earnings and like-for-like growth despite British retail sector slowdown.
Retail
H&M Shares Jump as Early Summer Sales Shine
June sales were up 12 percent for the world's second-biggest fashion retailer, beating analyst forecasts. Second quarter sales were up 11 percent, beating Inditex's 10 percent.
H&M Shares Jump as Early Summer Sales Shine
June sales were up 12 percent for the world's second-biggest fashion retailer, beating analyst forecasts. Second quarter sales were up 11 percent, beating Inditex's 10 percent.
Retail
New Look Losses Mount as Brexit and Rain Keep Shoppers Away
The British high street chain reported statutory loss before tax of £522.2 million for the year ended March, compared with a loss of £190.2 million a year earlier.
New Look Losses Mount as Brexit and Rain Keep Shoppers Away
The British high street chain reported statutory loss before tax of £522.2 million for the year ended March, compared with a loss of £190.2 million a year earlier.
Fashion Week
Chanel's Past and Future Will Be On Full Display In Paris This Week
This week everyone will be talking about Chanel's memorial to Karl Lagerfeld and its annual financial results, New York designers at Paris Fashion Week and protests in Hong Kong. Read our BoF Professional Cheat Sheet.
Chanel's Past and Future Will Be On Full Display In Paris This Week
This week everyone will be talking about Chanel's memorial to Karl Lagerfeld and its annual financial results, New York designers at Paris Fashion Week and protests in Hong Kong. Read our BoF Professional Cheat Sheet.
News & Analysis
Weakness at Gap's Old Navy Makes Analysts Question Spin-Off
Formerly the most profitable in Gap Inc's portfolio, the American retailer reported negative comparable sales at a 10 percent drop, the worst in four years.
Weakness at Gap's Old Navy Makes Analysts Question Spin-Off
Formerly the most profitable in Gap Inc's portfolio, the American retailer reported negative comparable sales at a 10 percent drop, the worst in four years.
Financial Markets
Calvin Klein Owner PVH Cuts Profit Forecast and Shares Fall
The company cut its adjusted profit outlook, citing a challenging macroeconomic environment and a stronger dollar. Shares fell 7.4 percent to $91.90.
Calvin Klein Owner PVH Cuts Profit Forecast and Shares Fall
The company cut its adjusted profit outlook, citing a challenging macroeconomic environment and a stronger dollar. Shares fell 7.4 percent to $91.90.
Financial Markets
When Retailers Lose the Thread a $2.7 Billion Wipeout Ensues
Canada Goose, Abercrombie & Fitch and Capri Holdings posted historic stock declines this week, together erasing about $2.7 billion in market capitalisation.
When Retailers Lose the Thread a $2.7 Billion Wipeout Ensues
Canada Goose, Abercrombie & Fitch and Capri Holdings posted historic stock declines this week, together erasing about $2.7 billion in market capitalisation.
Luxury
The Plan to Turn Versace and Michael Kors Into 'America's LVMH' Begins Now
This week, everyone will be talking about Capri Holdings' plans for Michael Kors and Versace, Serena Williams and Roger Federer at the French Open and the start of swimwear season. Read our BoF Professional Cheat Sheet.
The Plan to Turn Versace and Michael Kors Into 'America's LVMH' Begins Now
This week, everyone will be talking about Capri Holdings' plans for Michael Kors and Versace, Serena Williams and Roger Federer at the French Open and the start of swimwear season. Read our BoF Professional Cheat Sheet.
Financial Markets
Victoria’s Secret Owner Shares Rise 15% as Beauty Chain Boosts Sales
Same-store sales at Bath & Body Works rose 13 percent, a performance that exceeded company expectations.
Victoria’s Secret Owner Shares Rise 15% as Beauty Chain Boosts Sales
Same-store sales at Bath & Body Works rose 13 percent, a performance that exceeded company expectations.
Retail
Target Quarterly Results Trounce Estimates on Higher Online Sales
The American retailer has been spending more on its same-day delivery with services in a bid to better compete with rivals Amazon and Walmart.
Target Quarterly Results Trounce Estimates on Higher Online Sales
The American retailer has been spending more on its same-day delivery with services in a bid to better compete with rivals Amazon and Walmart.
Retail
Nordstrom Quarterly Revenue Drops
The department store's total revenue fell 3.3 percent to $3.44 billion, falling short of analysts' estimates of $3.58 billion. Shares subsequently dropped more than 9 percent.
Nordstrom Quarterly Revenue Drops
The department store's total revenue fell 3.3 percent to $3.44 billion, falling short of analysts' estimates of $3.58 billion. Shares subsequently dropped more than 9 percent.
Financial Markets
Burberry Profit Steady Awaiting New Collections in Stores
The British fashion house expects revenue growth after positive feedback on products by Riccardo Tisci.
Burberry Profit Steady Awaiting New Collections in Stores
The British fashion house expects revenue growth after positive feedback on products by Riccardo Tisci.
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.