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August 18, 2022

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EBay’s luxury focus drives earnings beat as consumer spending slows

Reuters
The eBay app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register Aug 3 (Reuters) – EBay Inc (EBAY.O) beat second-quarter earnings estimates on Wednesday as the e-commerce company’s focus on selling luxury products tempered......

Under Armour warns of margin hit as excess stock spurs discounts

Reuters
A signage is seen at an Under Armour store in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File Photo Register now for FREE unlimited access to Reuters.com Register Aug 3 (Reuters) – Under Armour Inc’s (UAA.N) margins are set to face a squeeze as the sportswear maker increases......

Hermes bounces back in China as margin hits record high

Reuters
A detail of a purse as a model presents a creation by designer Nadege Vanhee-Cybulski as part of a Spring/Summer 2022 women’s ready-to-wear collection show for fashion house Hermes during Paris Fashion Week in Paris, France, October 2, 2021. REUTERS/Gonzalo Fuentes Register now for FREE unlimited access to Reuters.com Register......

From burgers to gadgets, stressed consumers buy cheap

Reuters
NEW YORK/LONDON, July 26 (Reuters) – Some global consumers are showing signs of cracking, as shoppers stressed by record inflation stick to buying basics like food, bleach and cheap burgers, while those with bigger bank accounts are snapping up $3,000 Louis Vuitton handbags. Investors are closely watching second quarter corporate......

Millions of dollars in jewelry stolen from armored truck in California

Reuters
July 18 (Reuters) – Millions of dollars in jewelry and gems belonging to exhibitors at a California retail show were stolen from an armored truck traveling north of Los Angeles last week, authorities said on Monday. The robbery took place in the early hours of July 11 in the city......

Greece’s fur industry on the brink as EU sanctions on Russia bite

Reuters
Greek fur industry dates back centuries Russia is its main market Sanctions against Moscow halt exports, hurt sales Animal rights groups foresee sector’s collapse KASTORIA, Greece, July 18 (Reuters) – For decades, Antonis Disios’ workshop was abuzz with the sound of sewing machines stitching fur coats for his wealthy Russian......

Fashion retailer H&M joins TJX, others in exiting Russia

Reuters
STOCKHOLM, July 18 (Reuters) – H&M (HMb.ST), the world’s second-biggest fashion retailer, said on Monday it had decided to wind down its business in Russia, joining a growing list of companies fully exiting the country. The company suspended its business in Russia in early March in the wake of Western......

Richemont’s strong sales in U.S. and Europe help soften China weakness

Reuters
The logo of the luxury goods company Richemont is pictured at its headquarters in Bellevue near Geneva, Switzerland, June 2, 2022. REUTERS/Denis Balibouse Register now for FREE unlimited access to Reuters.com Register Q1 constant currency sales growth 12% Q1 sales 5.264 bln euros Europe, Americas offset decline in Asia No......

Analysis: Twitter has legal edge in deal dispute with Musk

Reuters
WILMINGTON, Del, July 8 (Reuters) – Twitter Inc (TWTR.N) has a strong legal case against Elon Musk walking away from his $44 billion deal to acquire the U.S. social media company but could opt for a renegotiation or settlement instead of a long court fight, according to legal experts. Delaware......

Investors anxious about a recession look to U.S. companies for guidance

Reuters
A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 27, 2022. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com Register NEW YORK, July 8 (Reuters) – As U.S. companies open their books on the second quarter in the......

H&M profit jumps as shoppers hit stores after pandemic

Reuters
The H&M clothing store is seen in Times Square in Manhattan, New York, U.S., November 15, 2019. REUTERS/Mike Segar Register now for FREE unlimited access to Reuters.com Register STOCKHOLM, June 29 (Reuters) – H&M (HMb.ST), the world’s second-biggest fashion retailer, reported a forecast-beating 33% increase in March-May profit on Wednesday......

Marine Serre stretches style traditions at Paris Fashion Week

Reuters
PARIS, June 25 (Reuters) – French label Marine Serre sent athletes and artists to stroll a track field runway on Saturday evening, showcasing a sport-inspired wardrobe infused with artistic references in an all-ages, open-to-the-public fashion show. Like Olympic opening ceremonies, delegations succeeded one another. First up was a squad of......

EXCLUSIVE Nike to make full exit from Russia

Reuters
People walk past a closed store of the sporting goods retailer Nike at a shopping mall in Saint Petersburg, Russia May 25, 2022. REUTERS/Anton Vaganov Register now for FREE unlimited access to Reuters.com Register PARIS/COPENHAGEN/LONDON, June 23 (Reuters) – Nike (NKE.N) is making a full exit from Russia three months......

Some shoppers balk at retailers peddling new ‘Juneteenth’ merchandise

Reuters
NEW YORK, June 19 (Reuters) – Clothing retailer Kohl’s (KSS.N) is offering gray, green and red “Juneteenth 1865” tank tops and t-shirts for juniors and boys for $23.99. JCPenney.com hopes to lure shoppers with dozens of wall hangings featuring abstract graphic designs and silhouettes of Black women, priced at $60......

Ferrari names Carla Liuni new chief brand officer

Reuters
A Ferrari logo is pictured during the ‘Universo Ferrari’ exhibition, in Maranello, Italy, September 9, 2019. REUTERS/Flavio lo Scalzo/File Photo Register now for FREE unlimited access to Reuters.com Register MILAN, June 13 (Reuters) – Ferrari (RACE.MI) on Monday named former jewellery executive Carla Liuni as its new chief brand officer......

JD Sports, Elite broke law over Rangers FC merchandise pricing, UK watchdog finds

Reuters
A man walks past a Rangers’ soccer club poster at their Ibrox Stadium in Glasgow, Scotland December 19, 2012. REUTERS/David Moir/ Register now for FREE unlimited access to Reuters.com Register June 7 (Reuters) – Britain’s biggest sportswear retailer JD Sports (JD.L) and rival Elite Sports broke competition law by fixing......

Factbox: Deadly fires common in Bangladesh, mainly in industrial settings

Reuters
Drone footage shows smoke rising from the spot after a massive fire broke out in an inland container depot at Sitakunda, near the port city Chittagong, Bangladesh, June 5, 2022 in this still image obtained from a handout video. Al Mahmud BS/Handout via REUTERS Register now for FREE unlimited access......

Fashion industry needs to pick up pace on climate goals, says report

Reuters
People stand next to the window of a fashion boutique in a shopping district in Tokyo, Japan, May 30, 2016. REUTERS/Thomas Peter/File Photo Register now for FREE unlimited access to Reuters.com Register PARIS, May 31 (Reuters) – The 30 largest listed fashion firms must do more to hit Paris climate......

Indian shares rise more than 1% on tech rally

Reuters
A man wearing a protective mask walks past the Bombay Stock Exchange (BSE) building in Mumbai, India, March 13, 2020. REUTERS/Francis Mascarenhas Register now for FREE unlimited access to Reuters.com Register BENGALURU, May 30 (Reuters) – A rally in technology stocks drove up Indian shares more than 1% on Monday,......

Wall Street ends mixed, Tesla falls

Reuters
A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., May 19, 2022. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register Ross Stores plunges after cutting 2022 forecast May 20 (Reuters) – Wall Street ended mixed on......

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