The recent stock market rout and currency devaluation have dealt a blow to China's luxury market, the New York Times reports.» Read More
BICESTER, England— The designer outlet mall of Bicester Village is set in the English countryside near Oxford, but it might as well be in China. In the Burberry store, many try on the brand's signature trench coats, which go for at least 600 pounds after discounts. He came from Shanghai to Europe with a group of about 30 colleagues to shop and do some sight-seeing.
European equities ended sharply lower on Tuesday, amid the surprising news that China has allowed a "one-time" depreciation of its currency against the U.S. dollar.
LONDON, July 16- Investors in British luxury brand Burberry overwhelmingly backed boss Christopher Bailey's multi-million pound pay package on Thursday, a reversal from last year when they opposed his remuneration. Bailey, a Burberry veteran of 14 years, has been instrumental in its success and was promoted to chief creative and chief executive officer last...
European equities ended higher on Wednesday as investors eyed a Greek parliamentary vote on a raft of reform measures.
*China- exposed European stocks seem vulnerable. LONDON, July 15- European auto and luxury goods shares face a bumpy ride due to their high exposure to China, where recent economic data has failed to dissipate investor concerns about growth and volatile stock markets. While European shares look poised to rally again after a Greek debt deal that reduces the risk of...
*Greece to vote on bailout deal. *Syngenta top riser after hedge fund takes a stake. LONDON, July 15- European shares steadied at three-week highs on Wednesday, led by pesticide maker Syngenta, with investors focused on a crucial vote in Greece on a proposed bailout package to save the country from bankruptcy.
LONDON, July 15- Falling sales in Burberry's Hong Kong market will not deter the British luxury brand from its commitment to one of its most profitable regions, it said on Wednesday. Pro-democracy protests in the city, which accounts for around 10 percent of Burberry's total retail and wholesale sales gathered pace last year, keeping mainland Chinese tourists...
*Greece to vote on bailout deal. LONDON, July 15- European shares edged lower on Wednesday on lingering uncertainty over Greece and a tumble in bearings maker SKF after it warned of weaker demand. The pan-European FTSEurofirst 300 index was down 0.1 percent at 1,578.69 points by 0822 GMT, while the euro zone's Euro STOXX 50 index edged 0.2 percent lower.
Burberry posted underlying growth of 8 percent in first quarter retail revenue, a slowdown from the previous period.
LONDON, July 15- British luxury goods maker Burberry on Wednesday posted underlying growth of 8 percent in first quarter retail revenue, a slowdown from the previous period partly reflecting a further deceleration in Hong Kong. The 159- year-old firm, known for its British-made trench coats and cashmere scarves, said it made 407 million pounds of retail...
Retail analyst Stacey Widlitz says there are fresh reasons to worry about the Chinese consumer's appetite for luxury goods.
As if the luxury goods industry was not already fragile, the chairman of Richemont, warned of the damage it faces from growing wealth inequality. The Financial Times reports.
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Through international turmoil, retailers are staying the course in expanding their brands overseas.
As Diane von Furstenberg tells CNBC about her fashion career, we look at other iconic styles, like the famous polo shirt and desirable red soled heel.
European shares closed higher on Wednesday, but markets struggled to gain momentum amid worries about cash-strapped Greece.
*Altice surges 11.6 pct on Suddenlink bid, Vodafone also gains. *Burberry shares slide on profit guidance cut. LONDON, May 20- European shares edged higher on Wednesday, extending the previous session's gains, with the telecoms sector getting a big lift from deal-making and takeover talk.
LONDON, May 20- Shares in British luxury goods maker Burberry tumbled on Wednesday after it cut its annual profit guidance, hit by foreign exchange volatility and subdued demand in Hong Kong and the United States. It came after Burberry reported a rise in group profit for the year to the end of March- but adverse currency movements due to a strong pound took a big...
Minutes from the Fed's last meeting should sound dovish when they are released Wednesday, but markets are already looking ahead to a speech Friday from Janet Yellen.
LONDON, May 20- British luxury goods maker Burberry lowered its 2016 retail and wholesale profit guidance due to foreign exchange movements and said it was seeing increased uncertainty in some markets, taking the shine off forecast-beating results. For its full-year results, Burberry said it had seen significant impact from exchange rates, reducing...