From meat dresses to double-denim and fluorescent pink faux fur. It’s safe to say that the fashion industry has seen it all… or has it?» Read More
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.
French luxury goods company PPR said Tuesday it owns 62.1% of Puma following an extended offer period for the German sportswear company.
Red & Black Lux, a unit of private equity group Permira, said Thursday it is bidding for the outstanding shares of Hugo Boss in an effort to gain complete control of the German fashion company.
French luxury goods maker PPR will not raise its 330 euros a share ($444.5 a share) offer for German sportswear company Puma.
Waterford Wedgwood, one of Ireland's best-known companies, reported continued losses and sales declines Wednesday in its full-year results, but said more cost-cutting and share offerings could return it to profit.
Remy Cointreau, the maker of Remy Martin cognac and Piper-Heidsieck champagne, said Monday it swung to a loss in the fiscal full year after it incurred a one-time charge related to its leaving a distribution network.
Luxury goods maker Hermes has cut its full year sales guidance to an 8-9% rise from an 8-10% rise due to lower sales in Japan, CEO Patrick Thomas said in an interview with the daily Les Echos. He said the company's fundamentals are still good.
The British government is in contact with Ford Motor over the possible sale of the U.S. carmaker's Jaguar and Land Rover brands.
Richemont, the maker of Cartier watches and Montblanc pens, posted a 21% rise in annual net profit to 1.33 billion euros ($1.79 billion) on Thursday as China's economic boom fuelled demand for its luxury goods.
British fashion house Burberry reported a 12% rise in annual underlying profit on Thursday on strong sales of its clothes and $2,200 handbags but the cost of a computer system roll out weighed on its shares.
Swatch Group, the world's biggest watchmaker, is betting on a luxury goods boom in the United States and a recovering Japan as its sales continue to show double-digit growth, its chief executive said on Wednesday.
Private equity firm Permira is in exclusive talks to buy more than half of famed Italian fashion house Valentino, it said on Friday, dimming the chances of a bid battle with U.S. rival Carlyle.
U.S. private equity firm Carlyle Group is set to challenge Permira for control of Valentino by offering 36 euros per share, a financial source said, sending shares in the Italian fashion group to a record high.
Permira is to buy a 29.6% stake in Valentino, one of the world's top fashion houses, for 782.6 million euros ($1.06 billion), joining a small number of private equity firms in the luxury brand business.
Tuesday after the bell, I reported Disney earnings. I started my report by saying the company "hit it out of the park" on earnings, beating the street by six cents. I then said revenues missed a bit, while still growing.
Suddenly, the U.S. is the lap of luxury and Bulgari, Tiffany and Cartier are all looking to expand here.