Tag: Apparel and Textile Products

 Kering’s shares slumped on Wednesday, after the French luxury goods company warned it expected a 40% to 45% plunge in first-half operating profit.

The Federal Trade Commission is seeking to block luxury retailer Tapestry from purchasing Capri Holdings for $8.5 billion, arguing that the acquisition would curb competition in the market for less expensive luxury handbags.

Shares of Adidas jumped 8.2% on Wednesday after the company unexpectedly raised its full-year guidance and reported a year-on-year profit increase in the first quarter.

Levi Strauss beat earnings expectations and raised guidance for fiscal 2024, giving the stock a boost in after-hours trading.

Shares of PVH were trading sharply lower after the apparel company issued a sales warning.

Shares of H&M leapt 14% in early deals on Wednesday, after the Swedish retailer significantly beat profit expectations for its fiscal first quarter.

Lululemon’s holiday earnings topped expectations, but its growth in North America is stagnating as it laps tougher comparisons and grapples with a slowdown in demand.

Nike reported holiday sales that beat expectations, but its growth in China continued to slow.

Shares of French luxury group Kering plunged 14% on Tuesday after the company warned that Gucci sales look set to fall 20% year-on-year in the first quarter, amid declining Asia transactions.

Shares of Spanish clothing company Inditex, which owns Zara, rose to an all-time high on Wednesday.

German sportswear giant Adidas posted its first annual loss in more than 30 years on Wednesday and warned sales in North America would fall again as sportswear retailers in the U.S. struggle with high inventories.

Investors want Zara owner Inditex to follow rivals H&M and Primark in making its full list of suppliers public so they can better assess any supply chain risks.

Gap beat Wall Street expectations for fourth-quarter results on Thursday, buoyed by strong demand on improved product offerings at its Old Navy and namesake brands during the holiday season and lower markdowns.

Shares of Hugo Boss were plunged more than 18%, before paring losses slightly Thursday, after warning that it may fail to meet its 2025 sales target.

Sales at Salvatore Ferragamo continued to weaken year-on-year in January after dragging operating profit down 44% profit in 2023, but stabilised in February, the chief executive of the Italian luxury goods group said on Wednesday.

Foot Locker reported a holiday-quarter loss on Wednesday.

Abercrombie & Fitch beat holiday-quarter estimates on the top and bottom lines.

 Hermes said it will further raise prices as its sales outpaced luxury competitors at the end of 2023, helping to lift shares in the Birkin bag maker to a record high.

Under Armour Inc.’s stock rose 7% early Thursday, after the sporting apparel company beat profit estimates for its fiscal third quarter to offset revenue that came up short.

German sportswear maker Adidas expects operating profit to nearly double to about 500 million euros ($542.3 million) this year after the company’s break-up with Kanye West and the discontinuation of its Yeezy business.