Richemont's year to 31 March saw a “strong performance”, with a “step change in sales and operating profit”. Its fashion ops improved, but the share price fell as a deal to sell a YNAP stake to Farfetch is not agreed.
Canada Goose Holdings Inc, on Thursday forecast annual sales and profit above Wall Street expectations on hopes for a recovery in key China market and as demand for its luxury parkas and jackets stays strong.
Yet more strong numbers from the commercial property sector on Thursday. Major London landlord Great Portland Estates joined its peers British Land and Landsec this week in delivering an upbeat performance for the year.
Burberry’s new CEO looks like he won’t be deviating too much from his predecessor’s luxury strategy and if anything, he’s likely to take the label even further upmarket, while also focusing on its British heritage.
M&S’s premium Jaeger brand has named Suzi Avens as head of product. The ex-Cath Kidston and Boden exec joins as M&S continues its relaunch of Jaeger and puts plenty of support behind it both in-store and online.
Landlord Grosvenor has launched an interesting project, unveiling “an innovation challenge seeking to find new technologies and partners that are putting customer experience at the heart of bricks and mortar retail”.
Kering is launching the third tranche of its stock repurchase program, covering a volume of nearly 0.5% of its share capital. Meanwhile, LVMH is launching a similar program worth “a maximum amount of one billion euros."