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Growth in luxury sector expected to ease as it returns to normalized rate, fund manager says
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July 16, 2024July 16, 2024Earnings

Hugo Boss shares plunge on profit warning amid slumping China demand

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Pedestrians walk past a German luxury fashion house Hugo Boss store in Shenzhen Bao’an International Airport. Alex Tai | SOPA Images | LightRocket | Getty Images) Hugo Boss shares plunged as much as 10% Tuesday after the company cut its sales outlook, becoming the latest high-end fashion line to warn of persistent woes in the...

Shares of Cartier owner Richemont rise after full-year results
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May 17, 2024May 17, 2024Earnings

Richemont shares climb 6% on record full-year sales, new CEO

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Shoppers line up to enter a Cartier store, a unit of Cie. Financiere Richemont SA, on Canton Road in the Tsim Sha Tsui area of Hong Kong. Billy H.C. Kwok | Bloomberg | Getty Images Shares of Swiss luxury group Richemont climbed as much as 6.3% Friday after the company reported record full-year sales, even...

Mercedes-Benz is working through supply chain challenges, CEO says
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February 22, 2024February 22, 2024Earnings

Mercedes-Benz shares climb 5% on share buyback, despite ‘exceptional’ uncertainty ahead

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Mercedes-AMG GT 43 4MATIC+ on display at Brussels Expo on January 9, 2020 in Brussels, Belgium.  Sjoerd Van Der Wal | Getty Images News | Getty Images Mercedes-Benz shares gained around 5% on Thursday morning after the German carmaker beat fourth-quarter earnings expectations and announced a new share buyback program, despite warning of “exceptional” risks...

Major luxury brands deliver warnings tied to high-end spending
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November 16, 2023November 16, 2023Earnings

Burberry shares sink as luxury spending slowdown bites

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Pedestrians walk past a Burberry Group Plc store, left, in the Causeway Bay shopping district of Hong Kong, China. Xaume Olleros | Bloomberg | Getty Images LONDON — Burberry shares plunged 9% on Thursday after the British luxury fashion retailer warned that full-year operating profit will come in at the low end of forecasts amid...