Kering SA
Kering shares pop 6% on fourth-quarter beat even as sales at embattled Gucci brand lag
A Gucci store, operated by Kering SA, in the Sanlitun area of Beijing, China, on Saturday, Oct. 12, 2024. Bloomberg | Bloomberg | Getty Images Shares of Kering popped on Tuesday after the French luxury goods firm reported better-than-expected fourth-quarter sales that were nevertheless down year-on-year amid lagging demand for its main Gucci label. The […]
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Europe’s luxury giants brace for a turnaround in fortunes amid China pivot
Europe’s beleaguered luxury sector could be set for a turn in fortunes this year, as early indicators point to improved consumer spending and a pivot away from China. Luxury shares shot up in trading last week after Cartier owner Richemont reported its “highest ever” quarterly sales in the three months to December, indicating a rebound […]
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Europe markets open higher; luxury stocks pop on Richemont results, LVMH up 8%
UK economy grew by less-than-expected 0.1% in November; sterling falls U.K. gross domestic product increased by 0.1% in November, according to data published by the Office for National Statistics, below a Reuters forecast for 0.2% economic growth. The British pound extended losses to trade 0.28% down against the U.S. dollar and 0.24% lower against the […]
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Personal luxury goods market to shrink for first time since the 2008 financial crash, research finds
The storefronts of Dolce & Gabbana, Tiffany & Co. and Patek Philippe are seen as people enter Icon Siam, a luxury shopping mall located on the Chao Phraya River, on June 12, 2024 in Bangkok, Thailand. Lauren Decicca | Getty Images News | Getty Images The personal luxury goods market looks set to face its […]
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CNBC Daily Open: Trump kicked off the market rally, but he could also halt it
A trader wears a hat in support of Republican Donald Trump, after he won the U.S. presidential election, at the New York Stock Exchange (NYSE) in New York City, U.S., November 6, 2024. Andrew Kelly | Reuters This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up […]
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CNBC Daily Open: Trump supercharged the markets, but his policies could make the rally sputter out
Trader Walter Lundon shows off his shirt featuring US President-elect Donald Trump, on the floor of the New York Stock Exchange (NYSE) in New York City on November 6, 2024. Timothy A. Clary | Afp | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors […]
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Luxury stocks may be a risky China stimulus bet
Chinese consumers have long powered luxury brands to new highs. But with questions surrounding China’s sluggish economy and changing consumer tastes, analysts aren’t so sure whether these shoppers will be able to coax the luxury sector out of its doldrums. The Chinese government’s new stimulus measures announced late September revived interest in the country’s economic […]
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European stocks higher as mining stocks lead gains; French luxury giants LVMH and Kering up 8%
City of London skyline on 10th June 2024 in London, United Kingdom. The City of London is a city, ceremonial county and local government district that contains the primary central business district CBD of London. Mike Kemp | In Pictures | Getty Images LONDON — European stocks were higher on Thursday, spurred on by overnight […]
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Luxury stocks slip as fears grow of a prolonged downturn
An advertisement for Hugo Boss AG in Shanghai, China, on Wednesday, May 1, 2024. Bloomberg | Bloomberg | Getty Images LONDON — European luxury stocks tumbled Monday as analysts warned of a deteriorating demand outlook, particularly among high-spending Chinese consumers. Germany’s Hugo Boss was among the worst performers on the Stoxx 600 index by midday, […]
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British luxury icon Burberry dropped from UK’s FTSE 100 stock market index
LONDON, UNITED KINGDOM – 2020/07/16: Storefront of the Burberry store in the prestigious New Bond Street. (Photo by Dave Rushen/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty Images LONDON — British luxury fashion house Burberry Group dropped out of the U.K.’s FTSE 100 stock market index on Wednesday, as waning sales and […]
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