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Burberry

News

Reuters - 2 days ago

'No light at end of tunnel' - Kering slumps to 7-yr lows on H2 guidance slash

REFILE-BUZZ-'No light at end of tunnel' - Kering slumps to 7-yr lows on H2 guidance slash Refiles to remove extraneous word in headline. ** Shares in Kering PRTP.PA plummet 8.6%, to its lowest price in 7 years, as the Gucci owner forecasts a 30% slump in H2 operating profit hit by weak demand in China ** Kering's Q2 sales fall 11% organically to 4.51 bln euros ($4.88 bln), more than the consensus expected (-9%), while H1 oper profit slumps 42% y/y ** "Another step backwards," Deutsche Bank says,
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Reuters - 2 days ago

British Business - July 25

PRESS DIGEST-British Business - July 25 July 25 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times - Britain's Informa INF.L said it had reached a deal to buy Cannes Lions Festival owner Ascential ASCL.L for 1.2 billion pounds ($1.6 billion), adding the flagship ad industry conference to its portfolio of events.
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Reuters - 3 days ago

European stocks drop, luxury lags

LIVE MARKETS-European stocks drop, luxury lags STOXX 600 down 0.8% LVMH earnings drag luxury sector lower Upbeat easyJet results lifts travel & leisure Start of 'Mag 7' earnings disappoints Wall St futures lower Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com EUROPEAN STOCKS DROP, LUXURY LAGS Europe's luxury sector led a decline in major markets on Wednesday after disappointing r
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Reuters - 3 days ago

Luxury stocks sell off again as LVMH posts below-bar Q2 earnings

BUZZ-Luxury stocks sell off again as LVMH posts below-bar Q2 earnings Recasts with sector performance, adds peers, milestones, updates shares ** Expectations-missing Q2 results from luxury giant LVMH, a bellwether for the sector, weigh on peers , already under pressure after weak Burberry and Richemont prints ** LVMH results confirm "even best-in-c
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Reuters - 3 days ago

UK's Burberry falls on read across from weak LVMH results

BUZZ-UK's Burberry falls on read across from weak LVMH results ** Shares in Burberry BRBY.L down 1.9% at 705.4p, second top loser on FTSE bluechip .FTSE index ** The British luxury retailer falls on read across from LVMH LVMH.PA results ** LVMH, the world's biggest luxury group, posts slower sales growth in Q2 as Chinese shoppers rein in spending *
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Reuters - 3 days ago

Lacklustre earnings keep investors jittery

LIVE MARKETS-Lacklustre earnings keep investors jittery Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com LACKLUSTRE EARNINGS KEEP INVESTORS JITTERY A sales miss by luxury giant LVMH due to Chinese shoppers keeping a lid on spending and disappointing results from major U.S.
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Reuters - 3 days ago

Lacklustre earnings keep investors jittery

MORNING BID EUROPE-Lacklustre earnings keep investors jittery A look at the day ahead in European and global markets from Ankur Banerjee A sales miss by luxury giant LVMH due to Chinese shoppers keeping a lid on spending and disappointing results from major U.S. tech firms Tesla and Alphabet will likely keep investors skittish ahead of a slew of European earnings.
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Reuters - 4 days ago

LVMH sales miss estimates as Chinese market slows

UPDATE 3-LVMH sales miss estimates as Chinese market slows Rewrites paragraph 1, adds details in 3-4, analysts quote in 6-8, and CFO quotes in 12-13 By Mimosa Spencer PARIS, July 23 (Reuters) - LVMH LVMH.PA sales growth slowed in the second quarter as Chinese shoppers reined in spending on high-end fashion at home, even as demand in Western markets slightly picked up.
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Reuters - 4 days ago

Anglo American, Rio Tinto, Unilever

EUROPE RESEARCH ROUNDUP-Anglo American, Rio Tinto, Unilever July 23 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Anglo American, Rio Tinto and Unilever, on Tuesday. HIGHLIGHTS * Anglo American Plc AAL.L : HSBC cuts target price to 2,300p from 2,450p * Antofagasta Plc ANTO.L : HSBC raises target price to 1,400p from 1,100p * Belimo Holding AG BEAN.S : Jefferies raises target price to CHF 598 from CHF 498 * Rio Tinto RIO.L : HSBC
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Reuters - 4 days ago

Tesla, Alphabet earnings take centre stage

LIVE MARKETS-Tesla, Alphabet earnings take centre stage Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com TESLA, ALPHABET EARNINGS TAKE CENTRE STAGE Markets mostly took Joe Biden's withdrawal from the U.S. presidential race in their stride, flicking the switch from politics back to focus on earnings and interest rates.
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Reuters - 4 days ago

Tesla, Alphabet earnings take centre stage

MORNING BID EUROPE-Tesla, Alphabet earnings take centre stage A look at the day ahead in European and global markets from Tom Westbrook Markets mostly took Joe Biden's withdrawal from the U.S. presidential race in their stride, flicking the switch from politics back to focus on earnings and interest rates. In the U.S., a September rate cut is all but locked in to prices, and in Europe a 25 basis-point cut is expected in October.
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Reuters - 1 week ago

New Burberry chief faces tough choices on high-end ambitions

ANALYSIS-New Burberry chief faces tough choices on high-end ambitions By Mimosa Spencer PARIS, July 19 (Reuters) - Burberry's new boss Joshua Schulman faces an immediate strategy dilemma. On Monday, the former head of Coach was appointed to replace Jonathan Akeroyd, becoming the fourth CEO of the 2.6 billion pounds ($3.36 billion) British fashion house in 10 years.
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Reuters - 1 week ago

Britain's Frasers says move upmarket working as profit grows

UPDATE 2-Britain's Frasers says move upmarket working as profit grows 2023/24 profit up 13.1% to 545 mln stg Forecasts profit of 575-625 mln stg in 2024/25 Says brand relationships have never been stronger Declines comment on possible interest in Burberry Shares up 8% Adds shares paragraph 2, finance chief quotes paragraphs 4 and 5 By James Davey LONDON, July 18 (Reuters) - Frasers, the British sportswear and apparel retailer that owns the Sports Direct brand, reported a 13.1% rise in annual pro
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Reuters - 1 week ago

Adidas, Spirax Group, Stroeer

EUROPE RESEARCH ROUNDUP-Adidas, Spirax Group, Stroeer July 17 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Adidas, Spirax Group and Stroeer, on Wednesday. HIGHLIGHTS * Adidas AG ADSGn.DE : JP Morgan raises target price to EUR 260 from EUR 250 * J D Wetherspoon JDW.L : Jefferies raises target price to 1,000p from 925p * Spirax Group SPX.L : HSBC raises to hold from reduce * Stroeer SAXG.DE : HSBC raises target price to EUR 79 fro
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Reuters - 1 week ago

Luxury brands feel the sting as Chinese growth slows

ANALYSIS-Luxury brands feel the sting as Chinese growth slows By Mimosa Spencer PARIS, July 17 (Reuters) - The prolonged downturn in luxury spending in China is unlikely to reverse this year, analysts and executives warn, deepening a rout which has wiped almost $200 billion off the sector's value in recent months. Profit warnings from Burberry BRBY.L and Hugo Boss and a 27% drop in quarterly sales in China, Macau and Hong Kong from Richemont CFR.S this week have reinforced concerns about weaknes
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Reuters - 1 week ago

UK Stocks-Factors to watch on July 17

UK Stocks-Factors to watch on July 17 July 17 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening higher on Wednesday, with futures FFIc1 up 0.35%. * HSBC: HSBC Holdings HSBA.L appointed Georges Elhedery as its group chief executive , with effect from Sept. 2, making him the third CEO in less than eight years for the global lender. * OIL: Oil prices were steady with global benchmark Brent hovering near the one-month low it hit in the prior session, as signs of weakening demand growth in C
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Reuters - 2 weeks ago

FTSE 100 knocked lower by declines in commodities, luxury

UPDATE 1-FTSE 100 knocked lower by declines in commodities, luxury For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window FTSE 100 down 0.2%, FTSE 250 up 0.1% Rio Tinto falls after Q2 iron ore shipments miss estimates Ocado soars after smaller H1 loss, forecast lift Updated at 1557 GMT By Purvi Agarwal and Roshan Abraham July 16 (Reuters) - London's benchmark FTSE 100 closed lower for a second straight session on Tuesday, hurt by fresh declines
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Reuters - 2 weeks ago

Burberry Says All Resolutions Were Passed By Shareholders at AGM

BRIEF-Burberry Says All Resolutions Were Passed By Shareholders at AGM July 16 (Reuters) - Burberry Group PLC BRBY.L : BURBERRY -ALL RESOLUTIONS WERE PASSED BY SHAREHOLDERS Source text for Eikon: ID:nRSP6494Wa Further company coverage: BRBY.L
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Reuters - 2 weeks ago

China's reduced spending saps European luxury stocks

China's reduced spending saps European luxury stocks July 16 (Reuters) - A profit alert from Hugo Boss and weak China sales at Richemont added to evidence that Chinese appetite for luxury goods may have peaked, knocking share prices on Tuesday, while Porsche's exposure to the world's No. 2 economy also rattled investors. China has been a major source of growth for the luxury industry, with the market tripling in size between 2017 and 2021 and rebounding last year from pandemic lockdowns.
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Reuters - 2 weeks ago

Porsche hit as Trump's VP choice heightens China worries

BUZZ-Porsche hit as Trump's VP choice heightens China worries ** Porsche AG P911_p.DE down as much as 5.7% on growing concerns over its exposure to China, after former U.S. President Donald Trump picks Ohio Senator J.D. Vance as his running mate ** "JD is known as China hardliner" notes one trader. Another dealer says a harder U.S. stance over China won't help the world's No.
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