British luxury goods group Burberry met forecasts with a 26 percent rise in first-half profit, helped by buoyant tourist spending around the world, and kept its growth targets despite an uncertain economic backdrop.
The world's biggest jeweller began pre-marketing a planned $3 billion Hong Kong IPO on Monday, as some analysts warned that even with increasing demand for luxury goods among wealthy Chinese, the company's anticipated valuation may not be as dazzling for investors.
Fast-growing British youth fashion retailer SuperGroup said full-year profit would be hit by problems with a new warehouse management system that has left its shops short of its trademark T-shirts, hooded tops and check shirts.
In terms of operating profit, Asia became the number one segment for the Warnaco Group. The Calvin Klein licensee, whose portfolio also includes Speedo, Chaps, Warner and Olga, in fact, saw its Asian business (to the tune of 17 million euros) bring in more revenue than its domestic U.S. market (16 million euros).
Fashion accessories maker Fossil Inc said a stronger dollar will eat into its earnings for the current quarter, taking the gloss off a better-than-expected quarterly profit driven by higher sales in Asia and Europe.
L'Oreal, the world's largest cosmetics maker, said Monday strong demand in Asia and performance by its luxury unit led to 1.8 percent gain in third quarter sales, and confirmed its forecasts for 2011.Sales rose 1.8 percent to 4.
Global miner Anglo American is set to take control of diamond giant De Beers, buying out South Africa's Oppenheimer family in a $5.1 billion deal that ends the dynasty's direct links to the diamond business after almost a century.