Frédéric Malle Steps Down From Namesake Brand
Frédéric Malle announced on Apr. 18 that he will be leaving his brand Editions de Parfums Frédéric Malle at the end of June.
Baltimore, United States
Under Armour Forecasts Revenue Above Estimates
The sportswear company also announced the sale of its MyFitnessPal exercise tracking platform for $345 million.
Under Armour to Lay Off 600 Employees Globally
The sportswear maker expects to incur $235 million in charges, including up to $135 million for contract termination.
Under Armour Beats Quarterly Estimates
The sportswear company's net revenue fell about 41 percent to $707.6 million in the second quarter, but beat forecasts of $558.5 million.
Under Armour Faces Potential Investigation by the US Securities Exchange Commission
The sportswear brand said the notice is in connection to a federal probe about whether it shifted sales from quarter to quarter to meet objectives.
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Under Armour’s Quarterly Revenue Drops 23%
The sportswear brand reported a net loss of $589.7 million the first quarter ended March 31, compared with a profit of $22.5 million a year earlier.
Under Armour Forecasts Surprise Fall in 2020 Sales
The sportswear brand said the coronavirus outbreak in China would have a $50 million impact on first-quarter sales.
Under Armour Faces Federal Probe Over Accounting Practices
The sportswear company confirmed on Sunday that it is assisting a federal investigation into claims it had shifted sales from quarter to quarter dating back to 2017.
Under Armour Now Makes Spacesuits. Is That Good Business?
The US-based sportswear brand has partnered with Virgin Group on a new collection of spacesuits.
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Under Armour Shares Fall 10% Following Revenue Forecast Cut
The company said it expects a slight decline in North America revenue for fiscal 2019, compared with a prior forecast of flat revenue.
Under Armour Raises Profit Forecast After Upbeat First Quarter
Sales in international markets, including Europe and Asia, rose 12 percent and accounted for 27 percent of overall revenue.
Under Armour Climbs as Citigroup Raises Rating
The sports retailer's stock rose 3.8 percent after Citigroup raised its rating from 'neutral' to 'buy.'
Under Armour Tops Profit Estimates After Decluttering Spree
Shrinking inventory by cutting underperforming products has been key to the sportswear brand's restructuring efforts.
The News in Brief
With Succession in Focus, LVMH Adds Alexandre and Frédéric Arnault to Board
The two brothers join older siblings Antoine and Delphine, meaning that 4 out of Arnault’s 5 heirs now serve on the board. Bernard Arnault, age 75, has placed his controlling interest in LVMH in a stock-share partnership aimed at perpetuating family control.
Arnault Says He Hopes Tensions With China on Luxury Quiet Down
Billionaire Bernard Arnault said he hopes a planned visit to France next month by China’s Xi Jinping will help smooth trade relations between Paris and Beijing.
Vita Liberata Bought Back By Founder
Alyson Hogg, who founded the luxury tanning brand in 2003, has reacquired it from Crown Laboratories.
Swiss Watch Exports Plunge as China and Hong Kong Demand Dries Up
Monthly Swiss watch exports suffered their biggest decline since 2020 as demand for premium and luxury timepieces in key markets including China and Hong Kong plunged.
Asos Says It Will Take ‘Necessary Actions’ After 18% Drop in Sales
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth.
TikTok Divest-or-Ban Bill Heads to Fast Track in US Congress
The effort to force TikTok’s Chinese parent company ByteDance Ltd to divest its ownership of the social media platform would quickly become law under a plan outlined Wednesday by House Speaker Mike Johnson.
Lagardère Group Launches Egyptian Edition of Elle Magazine
The French publisher has appointed Tunis-based firm Nissa Editions Group as the local licensing partner and Cairo-based fashion media veteran Susan Sabet as both managing director and editor-in-chief of the new title.