The News in Brief

Michael Kors parent Capri Holdings Ltd on Wednesday cut its annual sales forecast as demand for its handbags and shoes weakens in the United States, sending its shares down nearly 9 percent in early trading.

The veteran executive, formerly vice president of the Nike-owned brand’s North America business, will succeed Scott Uzzell as president and chief executive, in the latest move of a wider leadership shuffle at Nike.

It comes as the brand sees consumers investing more in hair products and scalp maintenance, said Cecile Koenig, Guerlain’s director of international skin care marketing.

British shop price inflation picked up this month to reach its highest rate since industry records began in 2005, although growth in food prices cooled slightly, a survey showed on Tuesday.

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