Nordstrom Inc raised its 2019 forecast unlike many competitors and reported third-quarter profit above Wall Street expectations on Thursday, sending the retailer’s shares up about 10% in extended trading.
The international fragrance company responsible for the perfume offerings of brands including Montblanc, Jimmy Choo and Coach, expects to report revenues of 500 million euros ($554 million) in 2020, up 4.2% from 2019.
The Columbus, Ohio-based fashion retailer announced declining sales and widening losses for the third quarter on Wednesday, and has now confirmed that this year’s Victoria’s Secret Fashion Show will not be taking place.
Macy’s Inc cut its annual profit forecast for the second time this year on Thursday, blaming weak international tourism, warm weather and sluggish mall traffic for the first drop in same-store sales in two years.
French luxury group LVMH has persuaded U.S. jewelry chain Tiffany & Co to provide it with confidential due diligence after it raised its bid to close to $16 billion, people familiar with the matter said on Wednesday.
Private equity firm Catalyst Capital Group Inc is seeking financing for a bid for Saks Fifth Avenue owner Hudson’s Bay Co that would top a C$1.9 billion ($1.4 billion) deal the retailer reached last month.
Britain’s Hut Group has grown remarkably fast over the past decade, and it hopes the launch of two new debt facilities will give it the further boost it needs to become the global leader in online beauty.
Rinaldi became co-chief operating officer of the luxury retail group alongside Manju Malhotra in 2017. Malhotra will remain in her role, working alongside the management board to ensure the group continues to thrive.