Saks Fifth Avenue Flagship Appraised at $3.6 Billion as It Renews Neiman Push
The owners of Saks Fifth Avenue are in talks to raise financing to bolster the cash portion of an offer to buy competitor Neiman Marcus.
Some sank, others surged. BoF examines how Kering, Hermès and Moncler stacked up against the high bar set by LVMH’s fashion and leather goods division last week.
Overall sales came in at 7 billion euros ($8.27 billion), for the July to September period, rising 1.6 percent from a year earlier.
In the months between July and September, revenue dropped 15 percent year on year.
The answer has a lot to do with Louis Vuitton, Dior and the Chinese market. BoF breaks down the key factors behind the rebound.
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The group was struggling due to investment costs and a tough trading environment in its home market even before the pandemic hit.
Sales in China rose 6 percent while in North America, the company's biggest market, sales fell 2 percent.
Analysts had forecast a 20.97 percent fall in comparable sales, but the company reported a 13 percent rise.
The Seattle-based company's online sales also fell 5 percent in the quarter ending on Aug. 1.
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This week, everyone will be talking about the first Swiss watch fair since the pandemic, a slew of American retail earnings and China's Qixi festival. Get your BoF Professional Cheat Sheet.
The growth was fuelled by its Bath & Body Works brand.
The fashion marketplace sold record levels of merchandise and cut down on its losses as luxury shoppers pivoted online.
This week, everyone will be talking about Tapestry's first earnings since CEO Jide Zeitlin stepped down, the return of in-person shows at Copenhagen Fashion Week and the luxury e-commerce boom. Get your BoF Professional Cheat Sheet.
The owners of Saks Fifth Avenue are in talks to raise financing to bolster the cash portion of an offer to buy competitor Neiman Marcus.
The announcement comes more than 20 years after Life, which was initially founded in New York City in 1883, stopped its regular publications.
A deadline to submit initial offers passed on Thursday, with a final deal expected to close mid-April.
Shoppers “get bored very quickly,” Régis Schultz, JD Sports’ CEO, said.
British sportswear retailer JD Sports said trading conditions remained challenging after its like-for-like sales dropped in January, resulting in fourth-quarter growth of just 0.1 percent.
Luxury watchmaker Favre Leuba plans to unveil more than two dozen timepieces later this year, priced as much as 24,000 Swiss francs ($26,489), as part of a brand relaunch that seeks to expand the Swiss pioneer’s appeal beyond its majority Indian consumer base.
L Catterton, backed by French luxury group LVMH Moet Hennessy Louis Vuitton SE, is launching a new vehicle to invest in Indian consumer-sector companies as it increases the focus on the fastest-growing major economy in the world.
The online market for secondhand apparel hit $20 billion in the US in 2023 and is expected to more than double over the next five years, according to a new report from ThredUp and Global Data.