NEW YORK— A see-saw day for U.S. stocks ended with slight losses on Thursday, giving the market its fourth drop in a row. Edgy investors continue to monitor violence in the Middle East and the rapid ascent of the U.S. dollar, which is causing companies to pull back their profit forecasts for the year. "We have been due for a pullback," said Brad Sorensen of the Schwab Center...» Read More
LVMH, the world's largest luxury goods group, brushed aside concerns that a U.S. recession could dent its performance but sounded more cautious about 2008 as it unveiled an 8 percent rise in 2007 net profit.
Richemont, the world's second-largest luxury goods group, narrowly missed forecasts on Wednesday with an 8 percent rise in third-quarter sales, and said demand "slowed somewhat" in Japan and the United States in December.
Jeweler Tiffany cut its fiscal-year earnings outlook Friday as same-store sales fell 2 percent in the United States during the November-December holiday period.
Jeweler Tiffany reported a sharp increase in third-quarter profit Friday, boosted by a gain from the sale of its Tokyo flagship store, and raised its full-year profit forecast.
Luxury goods maker Gucci, owned by French retailer PPR sees double-digit growth in 2007 and aims to open more stores in Asia and eastern Europe, the label's chief executive, Mark Lee, said on Tuesday.
Burberry, the British luxury goods company, saw its total revenue rise 19 percent in the first half broadly in line with analyst expectations and helped by a rapid opening of new stores.
LVMH Moet Hennessy Louis Vuitton, the world's largest luxury goods group, beat forecasts with an 8% rise in nine-month sales and confirmed its target of a "significant" increase in full-year results.
Wall Street bonuses are expected to drop as much as 40% this year. Will sales at luxury stores including Coach (COH) and Tiffany (TIF) take a hit?
Luxury goods manufacturer Prada on Monday reported first-half revenues up 23%, powered by its Miu Miu brand which surged in Asia.
Truck deliveries by world No.2 truckmaker Volvo fell 4% in January through August as gains in Europe and Asia failed to offset lingering weakness in North America, the firm said on Monday.
In a bid to add more prestige to what it already has, the Italian maker of super luxury sports car unveiled the Reventon at Frankfurt's international autoshow, a very limited editioncar that looks more like an arrow than anything on four wheels.
Upscale jeweler Tiffany reported lower second-quarter net profit Thursday on charges related to the pending sale of its Little Switzerland business, despite sales growth in some markets.
Germany Red & Black Lux, a unit of private equity group Permira, said Friday it acquired just more than 85% of the voting rights of Hugo Boss, as it moves to acquire the German fashion company.
French wine and spirit makers appear to be clawing their way back into the global market after years of watching foreign taste buds respond to innovative New World wines.
The 2008 BMW 5 Series was the worst performer in new side-impact crash tests of luxury sedans by the insurance industry.
Athletic apparel maker Puma said Thursday second-quarter profit slipped as rising sales in Europe were offset by a 15% sales decline in North and South America.
Polo Ralph Lauren posted a weaker-than-expected quarterly profit Wednesday, hurt by acquisitions-related accounting, and cut its full-year earnings forecast due to a higher tax rate, sending its shares down as much as 13 percent.
BMW, the world's biggest producer of luxury automobiles, said Tuesday that sales rose in July, as well as in the January-July period, on continued demand for its BMW, Mini and Rolls-Royce brands.
Book and newspaper publisher Pearson reported a sharp rise in first-half profits on Monday and raised its full-year sales forecast for its core professional education business to growth of 5-7%.
Hermes International said sales for the first half were 721 mln euros, up 2.9% from 700.5 million a year earlier, as a negative currency impact weighed on growth.