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Exane prefers European brewers over distillers in depressed sector

BUZZ-Exane prefers European brewers over distillers in depressed sector ** BNP Paribas Exane says a more favourable macro context for staples could help European alcohol makers' "depressed" valuations despite the challenged global demand outlook ** Exane prefers brewers over distillers, which it says face prolonged headwinds in the U.S. spirits market ** The broker chooses AB InBev ABI.BR as its top pick, as it expects the Dutch brewer's share consolidation and operational momentum to drive shar
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Competitive dynamics in focus as US tries to stop Tapestry-Capri merger

UPDATE 2-Competitive dynamics in focus as US tries to stop Tapestry-Capri merger Adds details from witness testimony in paragraphs 9, 10-14 and background on FTC cases in 4, 7 By Siddharth Cavale NEW YORK, Sept 9 (Reuters) - The U.S. Federal Trade Commission urged a federal judge in New York to block Tapestry's TPR.N $8.5 billion merger with rival handbag maker Capri Holdings CPRI.N at a trial on Monday, arguing it will eliminate fierce head-to-head competition in the market for "accessible luxu
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Top of the Street: European luxury, beverages; Nestle, Kion, Subsea 7

BUZZ-Top of the Street: European luxury, beverages; Nestle, Kion, Subsea 7 A round-up of notable broker activity this morning from Europe's top-ranked* analysts: ** Barclays downgrades Burberry BRBY.L and Gucci owner Kering PRTP.PA to "underweight" from "equal weight" as it expects the weakness in the China market to affect the luxury groups in a long term ** Barclays cuts Nestle NESN.S to "equal weight" from "overweight" saying a near-term recovery is unlikely for the Swiss chocolate maker ** C
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Barclays Bank, Ferrari, Volkswagen

EUROPE RESEARCH ROUNDUP-Barclays Bank, Ferrari, Volkswagen Sept 9 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Barclays Bank, Ferrari and Volkswagen on Monday. HIGHLIGHTS * Barclays Bank BARC.L : Morgan Stanley raises target price to 300p from 290p * Ferrari RACE.MI : Citigroup raises target price to EUR 360 from EUR 334 * Mercedes-Benz Group AG MBGn.DE : Citigroup cuts target price to EUR 60 from EUR 65 * Shell Plc SHEL.L : HSB
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LVMH names UK designer Sarah Burton Givenchy creative director

UPDATE 3-LVMH names UK designer Sarah Burton Givenchy creative director Burton is former Alexander McQueen designer Designed Kate Middleton's 2011 wedding dress Adds industry context in paragraphs 6-8, background on CEO in paragraphs 11-12 By Mimosa Spencer PARIS, Sept 9 (Reuters) - French luxury goods company LVMH LVMH.PA named on Monday Sarah Burton , the longtime-Alexander McQueen designer behind the Princess of Wales' 2011 wedding dress, as the new creative director for its Givenchy label.
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Europe set to bounce back

LIVE MARKETS-Europe set to bounce back 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 EUROPE SET TO BOUNCE BACK European shares were set to rise at the open on Monday as gains in Wall Street futures pointed to a stabilisation in markets following last week's widespread losses on concerns over a cooling U.S.
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Barclays says China looks 'weaker for longer', cuts Kering, Burberry

BUZZ-Barclays says China looks 'weaker for longer', cuts Kering, Burberry ** Barclays says China looks "weaker for longer" on structural issues and cuts estimates and PTs across its coverage, while downgrading Gucci owner Kering PRTP.PA and Burberry BRBY.L ** "The sentiment on the ground was much more cautious than 6 months ago, as there is now a c
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LVMH's Dior recruits Miu Miu CEO as managing director

LVMH's Dior recruits Miu Miu CEO as managing director By Mimosa Spencer PARIS, Sept 3 (Reuters) - Christian Dior Couture has recruited Benedetta Petruzzo, the CEO of Prada's fast growing Miu Miu label, as its managing director, the LVMH-owned LVMH.PA brand said on Tuesday. The move comes over a year and a half after Delphine Arnault, the eldest child of LVMH boss Bernard Arnault, took the helm at Dior and as it grapples with the fallout of a judicial probe in Italy into working conditions at sub
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Coty misses revenue estimates on cautious retail orders, Lacoste license sale

Coty misses revenue estimates on cautious retail orders, Lacoste license sale By Ananya Mariam Rajesh Aug 20 (Reuters) - CoverGirl parent Coty COTY.N missed fourth-quarter revenue expectations on Tuesday, impacted by its divestiture of Lacoste fragrance license and controlled orders from cautious retailers, which weighed on growth in prestige and mass-market perfumes.
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Luxury’s legal pain is new threat to valuations

BREAKINGVIEWS-Luxury’s legal pain is new threat to valuations The author is a Reuters Breakingviews columnist. The opinions expressed are her own. By Yawen Chen LONDON, Aug 20 (Reuters Breakingviews) - Not many products get more attractive when you know how the sausage is made. That may particularly be the case for Italian-made luxury goodies. Successive Milanese court rulings on troubled supply chains are a problem for a sector built on prestige and enigma – and may imply further hits to va
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Kering rises on talk stock to stay in EuroSTOXX50 index

BUZZ-Kering rises on talk stock to stay in EuroSTOXX50 index ** Kering PRTP.PA up as much as 3.6% on market talk the stock will remain part of the EuroSTOXX50 .STOXX50E ** One UK trader says free-float adjustments by index provider STOXX lowers the chance that DSM Firmenich DSFIR.AS takes Kering's spot on the top euro zone equity benchmark ** An over 30% fall so far this year for Kering had fueled talk the stock could exit the index, the trader adds ** By 0838 GMT, Kering up 2.5%.
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Coach owner Tapestry rides on Tabby handbags demand to beat estimates

UPDATE 3-Coach owner Tapestry rides on Tabby handbags demand to beat estimates Gross margin expands for seventh straight quarter Inventory 'well-controlled and current' heading into FY 25 Annual forecasts roughly in line with estimates Shares rise 8% Adds background, details from the release By Juveria Tabassum Aug 15 (Reuters) - Tapestry TPR.N beat analysts' expectations for fourth-quarter results on robust demand for its popular Coach Tabby handbags, signaling interest in affordable luxury as
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Turkish gold demand lifts Italian jewellery exports as leather goods suffer

Turkish gold demand lifts Italian jewellery exports as leather goods suffer MILAN, Aug 12 (Reuters) - A surge in demand for gold from inflation-stricken Turkey boosted exports of jewellery from Italy's industrial district of Arezzo in Tuscany, data showed on Monday, offsetting a drop in leather goods sales from the nearby Florence area. Demand from Turkey, where inflation was running at 61.8% in July, drove jewellery exports from the Arezzo area up 133% in the first quarter of the year versus 20
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Investors feel the pinch of thriftier consumers on company profits

ANALYSIS-Investors feel the pinch of thriftier consumers on company profits By Danilo Masoni MILAN, Aug 8 (Reuters) - Investors in large consumer-goods companies are having to up their stock-picking game, as a post-pandemic spending splurge dries up and increasingly price-sensitive shoppers start to erode corporate pricing power. Profit warnings in sectors ranging from luxury to food and airlines have fed into worries about a slowdown in the United States and other major economies.
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Japan's Shiseido becomes latest luxury brand hit by China slump, shares plunge

Japan's Shiseido becomes latest luxury brand hit by China slump, shares plunge TOKYO, Aug 8 (Reuters) - Japanese cosmetics powerhouse Shiseido 4911.T fell by its daily limit in Tokyo trading on Thursday following midyear earnings that were hit by restructuring costs and slumping demand in China. Shiseido becomes the latest casualty among luxury brands, including Cartier-owner Richemont CFR.S and Gucci's Kering PRTP.PA , to be stung by slowing growth and consumer confidence in the world's second-
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Ralph Lauren beats profit estimates on stable demand in Europe, China

UPDATE 3-Ralph Lauren beats profit estimates on stable demand in Europe, China Adds CFO comment in paragraph 3, analyst comment in paragraph 6 By Savyata Mishra Aug 7 (Reuters) - Ralph Lauren RL.N beat first-quarter profit estimates on Wednesday as steady demand for its pricey denims and polo shirts in Europe and China offset slower sales in the U.S.
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China's stuttering recovery darkens global corporate growth outlook

ANALYSIS-China's stuttering recovery darkens global corporate growth outlook By Medha Singh Aug 2 (Reuters) - Global burger chains to car manufacturers are increasingly feeling the pinch from a faltering recovery in the world's No. 2 economy , China, and are strapping in for a bumpy ride ahead. A protracted downturn in the property market and high levels of job insecurity have knocked the wind out of a fragile recovery in China, a global trading powerhouse, and the effects of its slowdown can be
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Hugo Boss to focus on cost control after Q2 earnings slump

UPDATE 2-Hugo Boss to focus on cost control after Q2 earnings slump Confirms the preannounced 42% drop in Q2 operating profit Says it is implementing several cost saving measures Shares up 3.7% as market welcomes focus on cost control Writes through with CEO quotes, share reaction and analyst comments By Ozan Ergenay and Tristan Veyet Aug 1 (Reuters) - Hugo Boss BOSSn.DE confirmed the expected 42% drop in its second-quarter operating profit on Thursday, and said it was focusing on cost savings t
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Symrise's half-year sales rise on fragrance business growth

UPDATE 2-Symrise's half-year sales rise on fragrance business growth H1 sales rise 6.3% year-on-year to 2.57 billion euros H1 EBITDA rises 11.5% to 529.8 million euros Sees 2024 organic growth at upper end of 5-7% guidance Adds CFO quote in paragraphs 5-6, share reaction in paragraph 8, analyst comments paragraph 9, division detail paragraph 11 By Antonis Pothitos Aug 1 (Reuters) - German flavour and fragrance maker Symrise SY1G.DE posted a 6.3% rise in its half-year sales on Thursday, in line w
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Hugo Boss confirms 42% drop in Q2 operating profit

CORRECTED-UPDATE 1-Hugo Boss confirms 42% drop in Q2 operating profit Corrects headline, paragraphs 1, 4 to say Q2 EBIT figure was confirmed, removes reference LSEG estimates By Ozan Ergenay and Tristan Veyet Aug 1 (Reuters) - Hugo Boss BOSSn.DE confirmed the 42% drop in its second-quarter operating profit on Thursday, two weeks after the German fashion house slashed its annual forecasts and reported preliminary numbers, as economic and geopolitical challenges dampen global consumer demand.
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