A new report suggests that future growth for luxury will come from a new consumer. They're called YUMMY's—Young Urban Males.» Read More
With the explosion of Internet shopping this holiday season, retailers need to stop thinking about consumers buying either online or in the stores, experts say.
Chanel has acquired its long-time lamb hide provider in the latest purchase by a luxury brand of a partner that supplies top quality materials.
PARIS, Dec 5- Chanel has acquired its long-time lamb hide provider, the French tannery Bodin-Joyeux, in the latest purchase by a luxury brand of a partner that supplies top quality materials.
Nov 13- Sales at Macy's Inc rebounded in the latest quarter, joining signs at other retailers that consumers will spend this holiday season if the price is right. Last week, Gap Inc, Victoria's Secret parent L Brands Inc and J.C. Penney Co Inc reported much stronger sales for October than they had for September and August.
Nov 13- Macy's Inc on Wednesday reported a rebound in sales, helped by more promotions, and the U.S. department store chain said business was improving as the holiday season nears. "We have consciously gone after that opening price point business lately and have been very successful there," Chief Financial Officer Karen Hoguet said on a conference call.
U.S. stocks mostly climbed on Wednesday, with the Dow Jones Industrial Average closing at another record, as investors bought into optimism that the Federal Reserve would continue its stimulus.
*Microsoft touches 12- yr high as CEO search narrows. NEW YORK, Nov 6- The Dow industrials closed at a record high on Wednesday, led by gains in Microsoft Corp and encouraging European economic data, while the S&P 500 also rose but closed shy of its own record.
NEW YORK, Nov 6- The Dow and S&P stock indexes rose on Wednesday, bolstered by European economic data, while the Nasdaq fell, led by losses in Tesla Motors and as investors readied for Twitter's much-anticipated IPO. Apple Inc was down 0.5 percent at $519.84, Facebook Inc was down more than 2 percent at $48.98, and Google was down almost 0.5 percent at $1,017.00.
Take a look at some of Wednesday's midday movers:
*Microsoft touches 12- yr high as CEO search narrows. NEW YORK, Nov 6- U.S. stocks rose on Wednesday buoyed by strong economic data from Europe, while investors bought a flurry of new public offerings one day ahead of Twitter's much-anticipated IPO.
*Ralph Lauren climbs after earnings, dividend boost. The equity market was also buoyed by a host of initial public offerings, with six new issues expected to start trading Wednesday, a day ahead of the highly anticipated IPO of Twitter Inc. Barracuda Networks Inc shares jumped 27.1 percent to $22.88 early on its first trading day.
Judging by what happened overnight, Twitter is drowning out challengers on the primary market.
*Ralph Lauren climbs after earnings, dividend boost. John Williams, president of the San Francisco Federal Reserve Bank, said Tuesday the Fed should wait for stronger evidence of economic momentum before pulling back on its massive bond-buying program, but should then announce a definitive end to the stimulus.
Nov 6- Ralph Lauren Corp on Wednesday raised the low end of its full-year sales forecast on the expectation of strong gains during the holiday quarter, and the designer clothing company increased its dividend. Shares of Ralph Lauren rose 2.2 percent to $175 in premarket trading.
Nov 6- Ralph Lauren Corp on Wednesday raised its full-year sales forecast on the expectation of strong gains during the holiday quarter, and raised its dividend. As a result, Ralph Lauren now expect full-year revenue to rise between 5 percent and 7 percent, versus an earlier range of 4 percent to 7 percent.
U.S. stock index futures pointed to a higher open on Wall Street on Wednesday.
Nov 5- Michael Kors Holdings Ltd reported a higher-than-expected 40 percent jump in quarterly revenue and said it would open about 100 stores in 2014 as demand for luxury goods such as its trendy handbags and watches shows no sign of fading.
NEW YORK, Nov 4- It's a good time to be a stock picker. Some 57 percent of U.S. funds run by active managers are beating their benchmark indexes this year, according to fund-tracker Morningstar.
When you think of Apple, you think of style, but not fashion. This makes the company's second major senior-level hire all the more perplexing.
Apple's hiring of Burberry's Angela Ahrendts might seem baffling, but Ahrendts is perfect because Apple is a luxury brand first and a technology company second.