Michael Kors stock dipped more than 2 percent after beating earnings and revenue estimates, but missed on comparable store sales.
Aug 10- Michael Kors Holdings Ltd reported a bigger-than-expected drop in quarterly comparable sales as fewer shoppers visited malls and a strong dollar discouraged tourists from spending on its handbags and accessories. From next year, Kors will stop participating in store-coupon promotions by North American retailers, Chief Executive John Idol said.
Aug 10- Michael Kors Holdings Ltd reported a bigger-than-expected drop in quarterly comparable sales as fewer shoppers visited malls and a strong dollar discouraged tourists from spending on its handbags and accessories. Sales in Kors' wholesale business, which supplies to department store operators including Macy's Inc and Neiman Marcus, declined 7...
*Forecasts 2nd- qtr revenue below estimates. Aug 10- Michael Kors Holdings Ltd reported a bigger-than-expected drop in quarterly comparable sales as fewer shoppers visit malls and a strong dollar discourages tourists from spending on its handbags and accessories. Kors' revenue in the Americas slid 5 percent in the first quarter.
The luxury goods maker has a plan to restore its upscale aura by scaling back its inventory in highly promotional shops.
Coach's CEO Victor Luis said that the company is trying to differentiate itself from the competition with its comeback.
LONDON, Aug 9- Germany's top share index hit a new high for 2016 on Tuesday as European shares advanced for a fifth straight session, boosted by new highs on Wall Street and strong results from companies like Munich Re. Germany's DAX closed up 2.5 percent, having hit 10,701.33, its highest level since the last trading day of 2015.. It is just 0.4 percent away from...
Coach, Delta and Buffalo Wild Wings are making headlines this Tuesday morning before the opening bell.
"Sales have a solid growth of 25 percent in local currencies, but it is weaker than expected and the disappointment is broadly based on all three regions," Sydbank analyst Soren Lontoft said, referring to the Americas, EMEA and Asia/Pacific. He said there were economic challenges in Brazil, which put a damper on the sales growth, and a decrease in number of visitors in...
LONDON, Aug 9- European shares advanced for a fifth straight session on Tuesday as companies like Altice continued to report quarterly results that exceeded forecasts. However, SFR also rose 10.5 percent, after the company said a price war in France's mobile market showed signs of easing. The broader STOXX Europe 600 index was up 0.2 percent by 0851 GMT.
Is the classic car industry decelerating in popularity and pace? And how are collectors’ tastes changing? Bonhams’ U.K. head of cars, Tim Schofield weighs in.
Sue Simpson, managing director of heritage brand Lock & Co. Hatters, talks about achieving business resilience through economic downturns.
LONDON, Aug 9- European shares steadied in early trading on Tuesday, with gains in companies such as Altice and financials offset by weaker commodities-related stocks that tracked prices of crude oil and industrial metals lower. Shares in Altice surged more than 10 percent after the company said second-quarter core operating profit grew 2.7 percent, beating...
Kate Spade reported a lower-than-expected profit as it offered more discounts and a strong dollar discouraged tourists from shopping at its stores.
Steve Madden reported second-quarter earnings that were in line with expectation, while revenue came in lighter than expected.
LVMH is selling Donna Karan International, the parent of New York label DKNY, to U.S. clothing firm G-III Apparel Group.
SW Retail Advisors president, Stacey Widlitz reacts to Burberry’s latest earnings, while commenting on what she expects from the upcoming chief executive, Marco Gobbetti.
Michelle McGrade, chief investment officer at TD Direct Investing, looks at the change of leadership at U.K. brand, Burberry, adding that she’s quite bullish on the luxury sector.
Following the news that Celine's boss will replace Christopher Bailey as Burberry's CEO next year; Andrew Sheets, chief cross-asset strategist at Morgan Stanley, talks about the state of the luxury sector.
Experts say oftentimes, more women than men in the political world are heavily judged on their wardrobe.