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.

Bally is hiring from within following the departure of former creative director Rhuigi Villaseñor earlier this May.

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.

Pepkor Holdings Ltd. replaced the head of its Ackermans unit after Africa’s largest clothing retailer posted a drop in first-half earnings as it failed to get the right summer fashion mix.

While some votes remain to be counted, LVMH confirmed that two measures on the Cheval Blanc Beverly Hills project have fallen short by a “narrow margin.” The final results will be certified on June 2.

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.

The country’s runoff election came to an end on May 28 with the incumbent Recep Tayyip Erdogan securing another term, prompting calls for economic stability from sector leaders in the fashion manufacturing hub.