Victoria’s Secret Jumps as Sales Decline Moderates
The lingerie maker said Thursday that its preliminary sales and adjusted profit for the quarter ended May 4 were at the high end or above its prior projections.
Investors are bracing for a steep slowdown in luxury sales when luxury companies report their first quarter results, reflecting lacklustre Chinese demand.
While travel to Europe remains muted, Chinese shoppers are flocking to Singapore, Thailand and other Southeast Asian destinations where fashion retailers are hoping Lunar New Year marketing investments will pay off.
Local fashion designers experimenting with puffers and other down clothing have scored collaborations with outerwear companies like Moncler and attracted the attention of prominent international retailers like H.Lorenzo.
Despite the country’s protracted property crisis, deflationary pressures and other economic headwinds, its domestic luxury market is expected to grow 4 to 6 percent in 2024, outpacing both Europe and the US.
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The rise of competing shopping hubs like China’s Hainan island, changing consumer preferences and a rise in online shopping have fundamentally changed demand for luxury goods in Hong Kong.
Brands looking to invest in new developments and rapidly changing shopping districts across China’s major cities are scrutinising locations harder than before the economic slowdown.
This week’s round-up of global markets fashion business news also features Russian diamonds, Botswana’s gem trading investment and India’s Diwali fashion ads.
The app’s Shop feature, which has gone live for some US users, is plagued by the same problems with a free-for-all marketplace Amazon has faced.
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As the country’s economy moves into deflationary territory, manufacturing output declines and a real estate crisis worsens, some consumers are becoming increasingly cautious.
Luxury brands are betting on store upgrades, tax-free shopping and VIC strategies to drive sales in China, writes Pierre Mallevays.
This Masterclass explores how global luxury brands and retailers can adapt to China’s shifting shopping landscape.
Chinese fashion and beauty customers — long pivotal for the global luxury market — are reshaping how and where they shop, according to BoF Insights’ new report.
The lingerie maker said Thursday that its preliminary sales and adjusted profit for the quarter ended May 4 were at the high end or above its prior projections.
The American apparel chain has returned to the Manhattan retail neighbourhood for the first time since 2017.
Revenues totalled 227 million euros ($244.5 million), below analyst expectations of 237 million euros according a LSEG consensus.
Researchers have expressed concerned that AI-generated content could be used as misinformation in an attempt to interfere with US elections this autumn.
Sticky inflation has forced shoppers in various categories to trade down to more affordable products.
The company’s net sales came in at $1.48 billion in the quarter ended March 30, compared to analysts’ average estimate of $1.50 billion, according to LSEG data.
The company’s main growth driver was its continued store openings, with eight new locations during the quarter and a total of 40 anticipated for 2024.
New analysis shows that 162,000 tourists from outside the European Union sought refunds on VAT — a sales tax — exclusively in Britain in 2019. One fifth of those tourists are now claiming rebates in other parts of the EU, where the tax break still applies.