Inspired by the glitz and glamour of the 1920s, several retailers are launching Great Gatsby-themed lines.» Read More
Check out which companies are making headlines before the bell on Friday:
*North America comparable sales down 2 percent. Jan 23- Coach Inc on Wednesday reported weak holiday-quarter results and unveiled a new strategy for shoes and clothing, spooking investors with the notion that the days of strong demand for its premium leather handbags may be numbered.
*Qtly profit $1.23/ share vs Street view $1.28. Jan 23- Coach Inc on Wednesday reported holiday quarter revenue well below Wall Street forecasts, hit by stiff competition in the handbag segment it has long dominated and a tough environment that saw many retailers cut prices to attract shoppers.
The latest earnings from luxury goods group Richemont could signal a wider trend of changing consumer trends in Asia, though economic growth should help buoy the luxury goods market, experts told CNBC.
PARIS/ ZURICH Jan 21- Cartier watches maker Richemont said sales growth had ground to a halt in the Asia-Pacific region, rekindling fears about a market which has been the driving force of luxury sales in recent years.
Despite flagging consumer sentiment and a shrinking paycheck for most, Gilt Groupe's chairman sees opportunity for luxury brands as the 1 percent continues to spend.
DUBAI, Jan 15- Investcorp, one of the Middle East's largest private equity houses, has sold CCC Information Services to U. S-headquartered Leonard Green& Partners, the Bahrain- based firm said on Tuesday. Investcorp, which previously took public luxury brands Gucci and Tiffany& Co, had $11.5 billion in assets under management as at June 30.
Jeweler Harry Winston is selling its high-end watches-to-necklaces division to Swatch Group in a $750 million cash deal that expands Swatch's luxury offering and lets the Canadian group concentrate on its diamond mines.
Find out what Wall Street analysts had to say about Boeing, Apple, Yum Brands and Tiffany in this CNBC.com Stock Blog Roundup.
Tiffany posted holiday sales that showed its torrid growth of recent years was sputtering in the U.S., Japan and Europe, with China the only bright spot for the upscale jeweler during the crucial shopping season.
Stocks extended their gains in the final hour of trading to close near session highs Thursday, with all key S&P sectors finishing in positive territory, but volume was light amid caution ahead of next week's flurry of earnings report.
Discussing whether Tiffany's results are just the first sign that the high-end consumer is scaling back, with CNBC's Courtney Reagan; Larry Kantor, Barclays; and Danielle Hughes, Divine Capital Markets.
One analyst tells CNBC why he thinks the stock has bottomed and could be "poised to bounce pretty nicely."
*Tiffany shares down 3.3 percent; Zale up 8.4 percent. Jan 10- Tiffany& Co posted holiday sales that suggested its torrid growth of recent years was stagnating in the United States, Japan and Europe, with China the only bright spot for the upscale jeweler.
Brian Nagel, Oppenheimer analyst says the high-end retailer needs to "fix its fashion issue" and become more competitive.
U.S. stock index futures advanced Thursday, despite a weaker-than-expected jobless claims report, boosted by a stronger-than-expected exports data in China that raised hopes for a more robust recovery in the global economy this year.
Jan 10- Tiffany& Co said on Thursday that its net worldwide sales during the holiday season had risen 4 percent, continuing a trend of disappointing gains this fiscal year, and the upscale jeweler said it would plan conservatively for 2013..
Some of the names on the move ahead of the open.
Jan 10- Tiffany& Co said on Thursday that its net worldwide sales during the holiday season had risen 4 percent, continuing a trend of modest gains in recent months, and the upscale jeweler said it would plan conservatively for 2013..
Central bankers on both sides of the Atlantic could stir the markets Thursday. The European Central Bank and Bank of England both meet ahead of the U.S. open, but more interesting to them are the comments expected from two Fed hawks - Kansas City Fed President Esther George and St. Louis Fed President James Bullard.