Luxury retailers are getting pinched, as the economic slowdown and stock market volatility in China dampen spending among wealthy consumers. CNBC's Courtney Reagan reports.» Read More
The luxury sector is usually resilient during economic downturns but this one is so severe, it’s taken luxe retailers — and their stocks — with it. So, does that mean it’s time to add a few baubles to your portfolio?
With even the rich feeling financially pinched, businesses are quietly offering discounts on everything from spa services to private jets.
Home foreclosures are up, the market is down, unemployment is high, and consumer spending is flat. These days, nobody wants to buy a five-figure handbag—or do they? Portfolio.com reports.
The billion dollar business that is Fashion Week kicks off with its presentation of Spring 2009 lines. Check out the highlights!
This invitation-only event provides a runway platform for designers' swimwear and resort collections with exposure to national and international media, style setters and fashionistas.
Following are the week's biggest winners and losers, including a couple of well-known household goods companies, a luxury brand and a couple of techs thrown in for good measure.
Despite Tele2's forecast-beating results and Julius Baer's smaller-than-anticipated profit loss, earnings around Europe met analysts' forecasts on Wednesday.
The music doesn't sound so sweet over at high-end audio-visual equipment maker Bang & Olufsen. The Danish company announced a downgrade on profit expectations for the year this morning.
A French court ordered eBay to pay 38.6 million euros ($61 million) to luxury goods group LVMH for allowing the sale of fake merchandise, in a ruling immediately appealed by the online auction website.
UK retailers took a beating Thursday as Home Retail and Carphone Warehouse struck a more pessimistic tone about the prospects of consumer spending.
Switzerland’s leading stock index, the SMI, has fallen more than 21 percent over the last twelve months, but investment opportunities are emerging with certain large-cap well-positioned stocks such as Roche and Swatch, Maximilian Muench, head of Swiss equities research at UBS told CNBC.
Tiffany posted higher-than-expected quarterly profit Friday, boosted by strong sales in Europe, the Asia-Pacific region and to tourists at its Manhattan flagship store, and the U.S. jeweler raised its full-year outlook, pushing its shares up 4 percent.
U.S. handbag maker Coach says the China region will make up over 4 percent of its turnover by 2013 as it expands into 100 cities across the country over the next 10 to 15 years, betting its increasingly well-heeled consumers will demand more brand-name products.
U.S. handbag maker Coach on Wednesday said it will acquire its own domestic retail businesses in Hong Kong, Macau and mainland China from its current distributor, the ImagineX group.
Not everything in retail is for sale. Find out why Cramer has changed his mind on this high-end stock.
EBay said Thursday it is cutting 125 jobs in Europe and North America, including 70 positions at the online auctioneer's headquarters in San Jose, Calif.
Shares in digital map maker Tele Atlas rallied on Thursday on hopes EU regulators will approve its 2.9 billion euro ($4.48 billion) takeover by TomTom, Europe's largest maker of car navigation devices.
BMW, the world's largest premium carmaker, forecast higher underlying profit in 2008 asit keeps margins at its core automotive business at least steady despite high raw material costs and a strong euro.
Watchmaker Swatch Group gave an upbeat outlook for 2008 on Friday, helped by the Olympic Games, despite headwinds from currency swings and soaring raw material prices.
French retailer PPR said on Wednesday 2007 net profit rose 34.6 percent, helped by strong results at its luxury and African trading divisions and its acquisition of German sportswear group Puma.