Hermes still bullish on 2010 October 6, 2010 FRENCH luxury Hermes is maintaining its 2010 guidance despite a broader rebound in the luxury sector, chief executive Patrick Thomas said yesterday. Asked whether Hermes would raise its forecasts after similar upgrades from luxury fashion companies such as Valentino, Thomas said: “Not us, we keep the same guidance.” Speaking on the sidelines of the Hermes [...]
G20 agreement on currencies propels FTSE 100 up despite fall in bank stocks October 25, 2010 BRITAIN’S top shares ended higher yesterday, supported by strength in miners as metals and crude prices rose amid a weaker dollar after G20 finance ministers agreed to avoid competitive currency devaluations. At the close, the FTSE 100 was up 10.61 points, or 0.2 per cent, at 5,751.98, just below last Thursday’s six-month closing high. It [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 9, 2010 FINANCIAL TIMES EX-CLINTON AIDE TO ADVISE NEWS CORP ON EDUCATION Joel Klein, the chancellor of New York City’s schools and former deputy White House counsel to Bill Clinton, is joining News Corp as a senior adviser to Rupert Murdoch, as the company looks to make investments in educational start-ups. ASIAN EQUITY HEDGE FUNDS OUTPERFORM Asian [...]
Richemont in lift as watch sales thrive September 8, 2010 SWISS luxury goods group Richemont’s five-month sales jumped 37 per cent, beating forecasts and confirming a rebound in the sector as wealthy Asians splash out again on luxury watches and jewellery. Richemont, normally cautious in its outlook, said yesterday net profit for its first half to September should be significantly higher than last year. However, [...]
LVMH gives a boost to luxury goods sector February 4, 2010 LVMH, the owner of luxury retailer Louis Vuitton and champagne house Moët & Chandon, yesterday said like- for-like sales in the fourth quarter of the year grew one per cent after achieving record sales in December. The Paris-based group said profit from recurring operations fell to €3.35bn (£2.9bn), down eight per cent from €3.63bn in [...]
Treat yourself to a taste of luxury this year May 18, 2010 POSH frocks and designer handbags come in and out of fashion, but the companies that make them can be a prudent investment. Luxury stocks held up pretty well during the recession and there are now some signs that they will lead the pack as the global economic recovery gathers pace. Hermes, the French designer brand, [...]
Depressed mining stocks are finally starting to look attractively valued July 12, 2010 IT WAS a tough second quarter for London-listed miners, which were dealt a severe blow by a toxic combination of general risk aversion, a planned tax on miners’ profits in Australia and a government-orchestrated slowdown in China. After reaching 25,356.51 on 6 April – its best level since July 2008 – the FTSE 350 mining [...]
Depressed mining stocks are finally starting to look attractively valued July 12, 2010 IT WAS a tough second quarter for London-listed miners, which were dealt a severe blow by a toxic combination of general risk aversion, a planned tax on miners’ profits in Australia and a government-orchestrated slowdown in China. After reaching 25,356.51 on 6 April – its best level since July 2008 – the FTSE 350 mining [...]
LVMH sales remain slow October 19, 2009 LVMH, the French luxury goods firm, said its third-quarter sales fell by 0.6 per cent after demand remained poor. But the firm, which produces brands like Moet champagne and Louis Vuitton fashion, said destocking of its top-end labels should come to an end soon. It reported sales of €4.14bn (£3.8bn), versus €4.16bn a year earlier. [...]
LVMH sales remain slow October 19, 2009 LVMH, the French luxury goods firm, said its third-quarter sales fell by 0.6 per cent after demand remained poor. But the firm, which produces brands like Moet champagne and Louis Vuitton fashion, said destocking of its top-end labels should come to an end soon. It reported sales of €4.14bn (£3.8bn), versus €4.16bn a year earlier. [...]