Leather Goods News
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Updated 28 minutes ago
For luxury-goods maker Richemont, clothing and bags are going out of fashion.
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Burberry Group Plc, the U.K.’s largest luxury-goods maker, reported full-year profit that beat estimates, boosted by strong demand in China and Hong Kong, and increased the dividend by more than analysts expected.
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PPR SA, the Paris-based luxury and sporting goods group, will start making branded leather goods in Serbia, lured by state incentives for new jobs.
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Growth in luxury-goods spending will be sustained this year as booming demand in Southeast Asia offsets a slowdown in China and Europe, according to Bain & Co.
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At a time when department stores are chopping themselves into mini-malls -- J.C. Penney Co. being the most prominent example -- Barneys is doing the opposite.
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Hermes International SCA, the French maker of Kelly handbags, reported the slowest revenue growth in more than three years because of diminishing gains in the leather-goods unit and a drop in watch sales.
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PPR SA reported first-quarter revenue that trailed analysts’ estimates as Gucci posted its weakest quarterly growth in more than three years amid a more volatile business climate in Europe.
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European stocks fell for a third straight day as German investor confidence declined more than forecast and the International Monetary Fund cut its global growth outlook.
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LVMH Moet Hennessy Louis Vuitton SA reported first-quarter sales in line with forecasts as gains at beauty retailer Sephora and DFS duty-free stores helped offset worse-than-expected fashion and leather goods growth.
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LVMH Moet Hennessy Louis Vuitton SA fell to the lowest in five months in Paris trading after saying weaker Asian demand contributed to the slowest growth in sales of fashion and leather products in more than three years.
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