Articles by DPA
Luxury goods group Hermès grows less than expected
French luxury group Hermès continued to grow in the first quarter. However, the maker of products such as the Birkin and Kelly bags fell short of expectations. Sales rose by 8.5 percent to 4.13 billion euros in the first three months of the year, the EuroStoxx 50 heavyweight reported on Thursday in Paris. Adjusted for currency effects, growth...
BusinessMemberloading...
EU Postpones retaliatory tariffs on US products until mid-July
In the trade dispute with the US, the EU suspended the application of planned special tariffs on US products until July 14. With the corresponding publication in the EU Official Journal, the EU is implementing an announcement by European Commission President Ursula von der Leyen. She announced last week that the measure, which was originally...
BusinessMemberloading...
China imposes 34 percent retaliatory tariffs on US products
China has announced countermeasures on imports from the US, which will amount to up to 34 percent. According to the Customs Commission of the State Council of China, the tariffs will go into effect on April 10. The decision is a response to the "Liberation Day" import duties announced by the US government on Wednesday. The additional tariffs led...
BusinessMemberloading...
Lululemon shares down 10% following FY25 outlook
Shares of Lululemon Athletica Inc. (LULU) were trading 10 percent down on Thursday's extended trading after the company revealed fiscal 2025 outlook below the Street expectations. The company's fourth quarter results came in better than last year. Meghan Frank, Chief Financial Officer, stated, "We look forward to building on our growth in 2025,...
BusinessMemberloading...
EU Environment Agency: Europeans are buying more clothes than ever before
People in the European Union are consuming more clothing, shoes, and other textiles than ever before. This is what the European Environment Agency (EEA) says in a new report, which it plans to officially present on Wednesday. According to the report, in the most recent comparison year, 2022, EU citizens bought an estimated average of 19...
BusinessMemberloading...
Zalando secures more than 90 percent of About You, squeeze-out planned
Online retailer Zalando is close to completing the takeover of its competitor About You. The Berlin-based company has secured more than 90 percent of About You's share capital, as it announced on Friday. Shares held by About You itself are not included in this figure. As soon as the purchase of the shares has been completed following approval by...
BusinessMemberloading...
Trump partially suspends tariffs against Mexico and Canada
US President Donald Trump has backtracked somewhat in the trade conflict with Canada and Mexico. The Republican partially suspended tariffs on goods from the two neighboring countries - at least for the time being. All imports from Mexico and Canada that fall under the North American Free Trade Agreement (USMCA) will therefore not be subject to...
BusinessFeaturedMemberloading...
Target collaborates with Champion to offer activewear
Target Corp. (TGT), Wednesday announced a strategic partnership with sportswear brand Champion to offer a unique line of high-quality, stylish activewear and sporting goods for adults and kids. The line, with most items under $40, will be available in Target stores and on its website from August. In the pre-market hours, Target's stock is...
Fashion loading...
Walmart forecasts slower growth for 2025/26
Walmart adopts cautious outlook for 2025/26 amid anticipated growth moderation. Walmart, the world's largest retailer, is entering the new financial year with a measured outlook. The company, headquartered in Bentonville, Arkansas, announced on Thursday that growth is expected to slow slightly. For the financial year 2025/2026, which ends in...
BusinessMemberloading...
Eyewear group EssilorLuxottica increases sales and profit
Eyewear giant EssilorLuxottica exceeded expectations for operating profit last year. Adjusted operating margin, excluding non-recurring items, increased by 0.5 percentage points to 17 percent, the Franco-Italian company announced Wednesday in Charenton-le-Pont. Analysts had, on average, anticipated slightly lower figures. The group, which owns...
BusinessMemberloading...