Latest in Financial
China Declines Hit SMCP as Action Plan Leads to 27 Million Euros in Losses
The company is closing stores and looking to put its business on a stronger footing.
Hermès Maintains Its Double-digit Pace
The French firm said it is benefiting from a "flight to quality," which sent second-quarter revenues up 11.5…
Zegna Group Reports H1 Sales Gains, Seeking Womenswear, Accessories Designer for Tom Ford Fashion
Chairman and CEO Gildo Zegna did not provide the name of a potential successor to Peter Hawkings, but the…
Unilever’s Sales, Profits Rise in First Half as Company Moves to Slash Jobs
CEO Hein Schumacher said the consumer giant's "productivity program" was working, but he did not address…
Moncler Group Beats Estimates, Reports Gains in H1 Profitability, Sales
The group is focusing on building its business in the Americas and China, as management expressed confidence…
Kering Issues New Profit Warning After Net Profit Halved in H1
Organic sales at Gucci were down 19 percent in the second quarter, below market expectations.
LVMH Net Profit Falls 14% in H1 2024 as China Slowdown Bites
Organic revenues in the key fashion and leather goods division were up 1 percent in the second quarter.
Iris Ventures Leads 20 Million-euro Investment in Sweden-based Sports Nutrition Brand Maurten
Maurten specializes in formulas that help athletes perform better without gastrointestinal distress, and is…
Amazon Prime Day Kicks Off as June Retail Sales Top Projections
June retail sales were stronger than economists projected, although e-commerce showed continued gains.
Hugo Boss Becomes Next Mid-tier Luxury Company to Cut Guidance
In a preliminary announcement, the German brand said sales had fallen 1 percent in the second quarter. As a…
Richemont First-quarter Sales Tarnished by Lackluster Chinese Demand, Tough Comparatives
The Asia Pacific region saw sales decline 19 percent at actual rates, and 18 percent at constant exchange…
Swatch Group H1 Profits Fall 70%, Dragged Down by China Slowdown
Despite the Swiss group's confidence that the second half would improve strongly, markets remained skeptical.
Burberry Warns of Operating Loss in H1 as First Quarter Sales Sink 22%
Chairman Gerry Murphy has suspended dividend payments and said that if the luxury slowdown persists, the…
Joshua Schulman Named CEO of Burberry, Replacing Jonathan Akeroyd
Schulman will take up the post with immediate effect, and against a difficult backdrop for luxury companies.
La Perla to Restart Operations With Financial Help of Tyche Bank
The bank said 500,000 euros are being made available for the financially troubled innerwear company.