The importance of Chinese tourist spending to retail around the world has become even clearer with China’s Ministry of Commerce saying over 120m of its citizens travelled abroad last year, 12% more than in 2014. And Chinese President Xi Jinping thinks the number will reach 500m by 2020.
What’s the big question we want the bosses over at Kering to answer? Yes, that’s right: Just what kind of impact is the Alessandro Michele factor having on Gucci sales? The company has just reported its Q4 and full-year results and given that there was real Michele-driven product in the stores for Q4 (rather than…
The bad news continues for Prada but it does have some developments to crow about with its smaller Miu Miu brand continuing to power ahead. The Italian giant released its full-year results yesterday and they didn’t make happy reading. Sales rose an anaemic 1% to €3.55bn having risen only 1% in 2014 too. You have…
Christian Dior Couture took in €1.87bn last year. That was a 17.1% rise, which is pretty impressive in a world where luxury is supposed to be hurting. OK, exchange rate effects from the weak euro helped a lot. But even without that, revenue was up 7% and operating profits rose an even-better 20.6% to €240m.…
New Look had a tough Christmas trading period (didn’t almost everyone?) but it doesn’t seem to be worried. The company said sales grew 5.6% in the nine months to December 26 as its standalone menswear stores proved to be a hit and its web sales surged. Comparable sales rose 4.5%, with a 4.3% rise in…
It’s a funny thing about Gap Inc but it’s one company that has always shown itself able to make a profit, however tough it finds sales growth. I’ve been following this company’s results for 17 years now and the sales picture has been bad for most of that time. But in reporting its January and…
Was 2015 a good year for beauty sales? We should hope so because it certainly wasn’t for fashion. So it’s with some relief that I read the latest NPD release, which said sales for the US prestige beauty industry reached $16bn last year, a 7% rise. It looks like that consumers who were saying ‘no…
As with Apple, so it is with Amazon. The problem with giant, dominant-in-their-fields companies that grow year after year, is that expectations are high, VERY high. Investors can be disappointed even after storming results. For Apple this week, it was all about the blind panic that iPhone sales might slow down. For Amazon yesterday, it…
Thank goodness for ponchos and scarves. That must be what Burberry CEO, creative chief and general all-round Big Boss Christopher Bailey must be thinking. They rescued what could have been a tricky Q3 for the luxury trailblazer.
Beware the Ides of March! Or in this case, the Ides of December. You know, there used to be a comedy show in the UK called Up Pompeii, in which a soothsayer (played funnily enough by an ex-Doctor Who) would wander on in every episode and cackle “beware the Ides of March!” I only mention…
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