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Aditi Sebastian

Estee Lauder warns of weak sales as most stores remain shut under lockdown

01 May 2020

Estee Lauder on Friday warned of weak quarterly sales due to COVID-19-led lockdowns in several markets, after it beat Wall Street's lowered estimates for third-quarter profit and sales on growth in China and higher online demand.

Fitch cuts UK's rating on coronavirus debt surge

28 Mar 2020

LONDON/BENGALURU, India Ratings agency Fitch cut Britain's sovereign debt rating on Friday, saying the country's debt levels would jump as the government ramped up its spending to offset the near shutdown of the economy in the face of coronavirus.

Coach powers Tapestry holiday quarter beat; coronavirus impact looms

06 Feb 2020

New lines of Coach handbags helped Tapestry Inc beat holiday quarter expectations on Thursday, sending its shares up 6%, even as the fashion house warned the coronavirus outbreak could dent its sales by up to $250 million.

Coty earnings top estimates, downplays coronavirus hit; shares surge

05 Feb 2020

Coty Inc reported quarterly profit above expectations on Wednesday and said the recent coronavirus outbreak would have a relatively small impact on its earnings, sending the cosmetics and fragrance maker's shares surging as much as 22%.

Levi's shuts half its China stores on coronavirus outbreak, expects financial hit

30 Jan 2020

Levi Strauss & Co has shut about half of its stores in China due to the outbreak of a new coronavirus and will take a near-term financial hit as a result of the epidemic, Chief Financial Officer Harmit Singh said on Thursday.

UPDATE 3-Abercrombie & Fitch trims forecast as Hollister, international business drag

26 Nov 2019

Nov 26 Teen apparel retailer Abercrombie & Fitch Co trimmed its annual sales growth forecast on Tuesday, blaming political issues ranging from Brexit to Hong Kong protests for keeping customers away from its stores outside the United States.

Controversial Versace T-shirt dents Capri's sales in China

06 Nov 2019

Capri Holdings Ltd blamed a controversy around a Versace T-shirt that labelled Hong Kong and Macau as countries for denting the luxury label's sales in China, adding it would now take a "very cautious" approach to its business in the country.

Weak sales growth hits American Eagle outlook; shares slide

04 Sep 2019

American Eagle Outfitters Inc forecast disappointing current quarter profit after its same-store sales missed quarterly estimates on Wednesday, hurt by weak demand for warm weather apparel and a late start to the back-to-school season.

Abercrombie & Fitch cuts full-year sales forecast

30 Aug 2019

(This August 29 story corrects paragraph 9 to say the company is a mall-based retailer; drops reference to "tariff impact" in headline) | Video

World News

Ireland delays easing of travel restrictions until July 20

Ireland will ease quarantine restrictions on people travelling from abroad on July 20, with people arriving from a "green list" of countries with low COVID-19 rates to be exempt from isolating themselves for 14 days, transport minister Eamon Ryan said.