Danone Acquires Protein Drinks Maker Huel in €1 Billion Deal
Huel, which counts actor Idris Elba and TV presenter Jonathan Ross among its investors, has agreed to be acquired by the French consumer goods group in a deal worth about $1.2 billion.
financial-results
Financial Markets
Hermès Still Benefiting From Buoyant Asian Demand
Along with Louis Vuitton and Gucci, Hermès is still riding high on strong demand from Asian clients with net profit up 15 percent to €1.4 billion and operating income up 6 percent to €2 billion.
Hermès Still Benefiting From Buoyant Asian Demand
Along with Louis Vuitton and Gucci, Hermès is still riding high on strong demand from Asian clients with net profit up 15 percent to €1.4 billion and operating income up 6 percent to €2 billion.
Financial Markets
Asos Maintains Full-Year Outlook After December Profit Warning
The e-tailer will cut prices and raise marketing spending in France and Germany, and look to improve its US business after unexpectedly high demand there caused significant dispatch backlog.
Asos Maintains Full-Year Outlook After December Profit Warning
The e-tailer will cut prices and raise marketing spending in France and Germany, and look to improve its US business after unexpectedly high demand there caused significant dispatch backlog.
China
Prada Shares Tumble as China Slowdown Hits Profits
The company’s operating profit fell 10 percent to €323.8 million, shares slumped 7.2 percent in early Hong Kong trading and the stock has dropped about 35 percent in the past year.
Prada Shares Tumble as China Slowdown Hits Profits
The company’s operating profit fell 10 percent to €323.8 million, shares slumped 7.2 percent in early Hong Kong trading and the stock has dropped about 35 percent in the past year.
Financial Markets
Abercrombie Soars on Upbeat Forecast as Sales Top Estimates
Comparable sales increased for a sixth consecutive quarter climbing more than double analysts’ predictions, and net sales are set to rise 2 to 4 percent this year.
Abercrombie Soars on Upbeat Forecast as Sales Top Estimates
Comparable sales increased for a sixth consecutive quarter climbing more than double analysts’ predictions, and net sales are set to rise 2 to 4 percent this year.
Financial Markets
Debenhams Plunges After Scrapping Forecasts
Despite securing a temporary lifeline from lenders, the UK department-store chain scrapped its profit guidance and shares plunged 12 percent marking the fourth profit warning since early 2018.
Debenhams Plunges After Scrapping Forecasts
Despite securing a temporary lifeline from lenders, the UK department-store chain scrapped its profit guidance and shares plunged 12 percent marking the fourth profit warning since early 2018.
Luxury
Moncler Promises More Growth After Jump in 2018 Sales
The luxury outerwear brand reported a 19 percent increase in sales last year.
Moncler Promises More Growth After Jump in 2018 Sales
The luxury outerwear brand reported a 19 percent increase in sales last year.
China
JD.com Posts 22 Percent Rise in Quarterly Revenue
China's second largest e-commerce firm beat analyst estimates on the back of stronger online retail sales, posting 134.83 billion yuan ($20.17 billion) total net revenue in fourth quarter.
JD.com Posts 22 Percent Rise in Quarterly Revenue
China's second largest e-commerce firm beat analyst estimates on the back of stronger online retail sales, posting 134.83 billion yuan ($20.17 billion) total net revenue in fourth quarter.
News & Analysis
Zalando Sees Solid Growth After Strong End to 2018
Europe's biggest online-only fashion retailer expects solid sales this year after posting better-than-estimated figures for the end of 2018 and gaining traction among 1.3 million new customers.
Zalando Sees Solid Growth After Strong End to 2018
Europe's biggest online-only fashion retailer expects solid sales this year after posting better-than-estimated figures for the end of 2018 and gaining traction among 1.3 million new customers.
Retail
J.C. Penney Pulls Plug on Clothing Subscription Service
The subscription service, introduced in December 2017 in partnership with Bombfell, works in a similar way to Stitch Fix.
J.C. Penney Pulls Plug on Clothing Subscription Service
The subscription service, introduced in December 2017 in partnership with Bombfell, works in a similar way to Stitch Fix.
Financial Markets
Etsy Surges to Record High as Analysts Cheer Growth Outlook
The online seller of handcrafted and vintage items surpassed fourth-quarter sales expectations, sending shares to their highest level since the company’s 2015 IPO.
Etsy Surges to Record High as Analysts Cheer Growth Outlook
The online seller of handcrafted and vintage items surpassed fourth-quarter sales expectations, sending shares to their highest level since the company’s 2015 IPO.
China
Fashion Group Esprit Says First-Half Loss Widens on Brand Weakness
The Europe-focused clothing retailer reported a net loss of $2.25 million and revenue slid $1.62 million amid changes in consumer behaviour, price competition and reduced customer traffic.
Fashion Group Esprit Says First-Half Loss Widens on Brand Weakness
The Europe-focused clothing retailer reported a net loss of $2.25 million and revenue slid $1.62 million amid changes in consumer behaviour, price competition and reduced customer traffic.
Financial Markets
Remembering Lagerfeld and Lanvin's Next Chapter at Paris Fashion Week
This week, everyone will be talking about Paris Fashion Week, the Oscars and the future of red carpet dressing and a wave of earnings reports from troubled retailers. Read our BoF Professional Cheat Sheet.
Remembering Lagerfeld and Lanvin's Next Chapter at Paris Fashion Week
This week, everyone will be talking about Paris Fashion Week, the Oscars and the future of red carpet dressing and a wave of earnings reports from troubled retailers. Read our BoF Professional Cheat Sheet.
The News in Brief
Qatar Investment Authority Eyes 10% Stake in Golden Goose
Qatar’s sovereign wealth fund is preparing to buy a stake in Italian sneaker maker Golden Goose, Corriere della Sera reported Saturday.
Retailers Push UK to Join US and EU Ending Shein Parcel Loophole
British retailers are pushing the UK government to end a tax loophole that has helped online giants Shein and Temu make significant inroads and gain market share.
Exclusive: Deciem to Relaunch The Chemistry Brand
The Estée Lauder-owned beauty company and The Ordinary parent will relaunch one of its original brands as it moves to rekindle its reputation for incubation.
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.
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.