The company's shares rose 4.5 percent to $72 in premarket trading on Thursday. Tiffany's net income rose to $105.7 million, or 84 cents per share, in the quarter ended July 31 from $104.9 million, or 81 cents per share, a year earlier. Analysts on average had expected profit to drop to $89.8 million, or 72 cents per share, according to Thomson Reuters I/B/E/S.
"The global environment continues to reflect well known challenges that we believe have had broad effects on spending by local customers, as well as foreign tourists, especially from China," Chief Executive Frederic Cumenal said in a statement. The company said sales were lower in continental Europe due to weak demand by foreign tourists and local customers, in...
Aug 25- Tiffany& Co's second-quarter comparable sales declined more than analysts expected due to lower tourist traffic and a strong dollar that eroded revenue from markets outside the United States. Tiffany's net sales fell 5.9 percent to $931.6 million. However, net income slightly rose to $105.7 million, or 84 cents per share, from $104.9 million, or 81 cents...
Aug 22- Swimwear maker Speedo USA said on Monday it had decided to end its sponsorship of Ryan Lochte, becoming the first company to officially terminate its endorsement of the U.S. swimmer. Speedo USA said it would donate $50,000 of Lochte's fee to Save The Children, a global charity partner of Speedo USA's parent company. "The current situation in Brazil...
Michael Kors stock dipped more than 2 percent after beating earnings and revenue estimates, but missed on comparable store sales.
Aug 10- Michael Kors Holdings Ltd reported a bigger-than-expected drop in quarterly comparable sales as fewer shoppers visited malls and a strong dollar discouraged tourists from spending on its handbags and accessories. From next year, Kors will stop participating in store-coupon promotions by North American retailers, Chief Executive John Idol said.
Aug 10- Michael Kors Holdings Ltd reported a bigger-than-expected drop in quarterly comparable sales as fewer shoppers visited malls and a strong dollar discouraged tourists from spending on its handbags and accessories. Sales in Kors' wholesale business, which supplies to department store operators including Macy's Inc and Neiman Marcus, declined 7...
*Forecasts 2nd- qtr revenue below estimates. Aug 10- Michael Kors Holdings Ltd reported a bigger-than-expected drop in quarterly comparable sales as fewer shoppers visit malls and a strong dollar discourages tourists from spending on its handbags and accessories. Kors' revenue in the Americas slid 5 percent in the first quarter.
Coach's CEO Victor Luis said that the company is trying to differentiate itself from the competition with its comeback.
Long-time Lululemon Athletica board member Rhoda Pitcher has resigned, according to a filing with the Securities and Exchange Commission.
Sue Simpson, managing director of heritage brand Lock & Co. Hatters, talks about achieving business resilience through economic downturns.
LVMH is selling Donna Karan International, the parent of New York label DKNY, to U.S. clothing firm G-III Apparel Group.
PARIS, July 25- French luxury group LVMH is selling Donna Karan International, the parent of New York label DKNY, to U.S. clothing firm G-III Apparel Group in a deal valuing the loss-making fashion brand at $650 million. Analysts estimate DKNY's annual sales at $450 million to $500 million, meaning G-III would be paying 1-1.5 times annual revenue, less than the 1.9...
Swatch Group said on Thursday it expected a recovery in the second half of 2016 after net profit plummeted 52 percent in the first half.
The presumptive Democratic presidential nominee addressed inequality in America wearing a pricey jacket.
Marjorie Yang and Dee Poon agree on most things at the Esquel Group, including - importantly - the best way to button a shirt.
Designer Kate Spade, Frances Valentine founder, and Andy Spade, Frances Valentine founder, discuss the launch of their new startup.
A Frida Kahlo painting has sold for just over $8 million at auction, a world auction record for the late Mexican artist.
He began his career like most ordinary college grads: no money, no clear direction. Then he founded Nike, the athletic-apparel mega-company.
Under Armour fan and Morningstar Equity Analyst Paul Swinand sifts through UA's quarterly results and weighs in on the company's outlook as competition heats up in the athleisure space.