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
Tapestry Announces $1B Buyback After Beating Profit Estimates
The results come off the back of better-than-expected sales of its Coach and Kate Spade handbags, which have previously suffered from a lack of new designs and heavy discounting.
Tapestry Announces $1B Buyback After Beating Profit Estimates
The results come off the back of better-than-expected sales of its Coach and Kate Spade handbags, which have previously suffered from a lack of new designs and heavy discounting.
Beauty
Estée Lauder Raises Outlook Again as Chinese Consumers Buy More
Skincare sales are flourishing in Asia, and the group's high-end beauty labels such as La Mer are performing well.
Estée Lauder Raises Outlook Again as Chinese Consumers Buy More
Skincare sales are flourishing in Asia, and the group's high-end beauty labels such as La Mer are performing well.
Retail
Next Revenue Beats Analyst Estimates
While retail sales fell 3.6 percent, online revenue rose 12 percent and full-price sales rose 4.5 percent.
Next Revenue Beats Analyst Estimates
While retail sales fell 3.6 percent, online revenue rose 12 percent and full-price sales rose 4.5 percent.
Financial Markets
Sandro Owner SMCP Posts Rise in First Quarter Sales
First-quarter sales rose to €274.6 million ($306.4 million), up 9 percent from the previous year.
Sandro Owner SMCP Posts Rise in First Quarter Sales
First-quarter sales rose to €274.6 million ($306.4 million), up 9 percent from the previous year.
Luxury
Hermès Sales Growth Shows Chinese Luxury Demand Remains Healthy
The results from the French luxury brand are a further sign that the key Chinese market is still going strong.
Hermès Sales Growth Shows Chinese Luxury Demand Remains Healthy
The results from the French luxury brand are a further sign that the key Chinese market is still going strong.
Financial Markets
Kering Shares Slide as Gucci's Growth Slows
Shares fell nearly 6 percent after signs of a slowdown at the French conglomerate's cash cow Gucci.
Kering Shares Slide as Gucci's Growth Slows
Shares fell nearly 6 percent after signs of a slowdown at the French conglomerate's cash cow Gucci.
Financial Markets
Valentino Revenue Growth Slowed in 2018
The Italian group's revenues totalled around €1.2 billion ($1.36 billion) last year, said chief executive Stefano Sassi.
Valentino Revenue Growth Slowed in 2018
The Italian group's revenues totalled around €1.2 billion ($1.36 billion) last year, said chief executive Stefano Sassi.
Luxury
Designer Debuts Pay Off For LVMH in First Quarter
The conglomerate set a high bar for tapping into Chinese demand for luxury, reporting revenue of €12.5 billion up 11 percent on a like-for-like basis.
Designer Debuts Pay Off For LVMH in First Quarter
The conglomerate set a high bar for tapping into Chinese demand for luxury, reporting revenue of €12.5 billion up 11 percent on a like-for-like basis.
Retail
H&M First-Quarter Earnings Beat Estimates on Fewer Discounts
Pretax profit fell 17 percent to 1.04 billion Swedish krona ($112 million) despite the retailer introducing new products at lower prices to try to avoid massive discounts later.
H&M First-Quarter Earnings Beat Estimates on Fewer Discounts
Pretax profit fell 17 percent to 1.04 billion Swedish krona ($112 million) despite the retailer introducing new products at lower prices to try to avoid massive discounts later.
Financial Markets
SMCP Expects Slower Growth as French Protests Drag On
The French fashion group, which owns Sandro and Maje, forecast more moderate sales growth in 2019 as street protests rock France and Britain's messy EU exit spreads uncertainty.
SMCP Expects Slower Growth as French Protests Drag On
The French fashion group, which owns Sandro and Maje, forecast more moderate sales growth in 2019 as street protests rock France and Britain's messy EU exit spreads uncertainty.
Financial Markets
Ted Baker Posts First Annual Profit Drop Since Financial Crisis
The British fashion retailer reported pretax profit of £50.9 million, down 26.1 percent, as discounting and uncertainty on Britain's high street weighed on the company.
Ted Baker Posts First Annual Profit Drop Since Financial Crisis
The British fashion retailer reported pretax profit of £50.9 million, down 26.1 percent, as discounting and uncertainty on Britain's high street weighed on the company.
Financial Markets
Levi Strauss Valued at $6.6 Billion as IPO Tops Target
Set to debut on the NYSE Thursday, Levi's sold $623.3 million in shares in its IPO with shares priced at $17, above the target range of $14 to $16.
Levi Strauss Valued at $6.6 Billion as IPO Tops Target
Set to debut on the NYSE Thursday, Levi's sold $623.3 million in shares in its IPO with shares priced at $17, above the target range of $14 to $16.
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.