SA News • Yesterday, 1:29 PM
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Yesterday, 1:29 PM
- Analysts expect a mixed holiday season for the retail sector in Hong Kong.
- While mass market retail is forecast to hold up with the level of demonstrations in the region moderating, there's some concerns on the luxury sector.
- The corruption crackdown by Beijing and the weak Yen are two potential drags on tourist traffic.
- Consumer confidence on the high end has also been weakening.
- What to watch: The critical Chinese New Year begins in February giving the luxury sector scant time for the environment to improve.
- Luxury sellers in HK: Gucci (OTC:GUCG), Prada, Louis Vuitton (OTCPK:LVMUY), Coach (NYSE:COH), Ralph Lauren (NYSE:RL), Michael Kors (NYSE:KORS), Swatch (OTCPK:SWGAY), Burberry (OTCPK:BURBY), and Tiffany (NYSE:TIF).
Fri, Aug. 29, 7:12 AM
- The luxury group continues to show sizzling sales growth, aided by the price increases high-end sellers have pushed through to consumers.
- SA contributor Valuentum thinks the luxury space will remain resilient due to the brand equity and pricing power in the sector.
- Though Tiffany (NYSE:TIF) impressed with its smashing Q2 earnings report, Valuentum sees more value in aspirational handbag maker Coach (NYSE:COH) with its strong financial position and potential to turn around its North American business.
- Valuentum interview on CNBC
- Related stocks: KORS, OTCPK:LVMUY, OTC:GUCG, OTCPK:BURBY, OTCPK:CFRUY, OTCPK:LVMUY.
Wed, Jul. 2, 2:31 PM
- Hugo Boss joins a list of luxury firms which have bought out retail partners in order to plant their own flag in China and the Middle East.
- The German retailer will control its store network in China and Macau for the first time.
- Swatch (SWGAY), Burberry (BURBY), and Prada are other high-end sellers which have made a similar move.
Wed, May. 7, 9:50 AM
- Burberry (BURBY) CEO Angela Anrendts has resigned her post at the retailer to become a senior VP of retail at Apple.
- The position at Apple is the one that was once held by Ron Johnson of JCP fame.
- Christopher Bailey will succeed Anrendts as CEO at Burberry.
Mon, May. 5, 3:33 PM
- The crowds at casinos (MPEL, MGM, WYNN, LVS, GXYEF, SJMHF) in Macau during Golden Week continue to impress, according to analysts.
- The May Day period is a national holiday in China.
- The positive read for May traffic at casinos follows up on a 10.6% gain in gaming revenue in the region for April.
- Early channel checks for the luxury sector haven't been quite as rosy. Mainland shoppers' demand for luxury goods is seen as lighter than a year ago.
- China luxury sellers: Gucci (GUCG), Prada, Louis Vuitton (LVMUY), Coach (COH), Ralph Lauren (RL), Michael Kors (KORS), Swatch (SWGAY), Burberry (BURBY), Tiffany (TIF).
Thu, Jan. 16, 2:18 PM
- A new survey on luxury spending by wealthy consumers in China indicates a soft demand trend may continue.
- Spending on gifts fell 25% last year, while overall spending by the wealthy fell 15%.
- A number of factors are in play with Chinese consumption taxes high and the government cracking down on corruption, but the underlying trend is that a surprising number of high net worth consumers are leaving China for new residences overseas.
- The good news for the sector is that some of the lost sales could be recaptured in different markets.
- Related stocks: Gucci (GUCG), Prada, Louis Vuitton (LVMUY), Coach (COH), Ralph Lauren (RL), Michael Kors (KORS), Swatch (SWGAY), Burberry (BURBY), Louis Vuitton (LVMHF), Tiffany (TIF), and Warnaco (WRC).
Dec. 20, 2013, 9:06 AM
- Luxury star Prada fell short of the consensus estimate of analysts with its Q3 profit. The report from the Italian firm could be a sector warning with Prada's results in China showing some signs of deceleration.
- A stronger euro against the yen was also a bottom line drag for the company.
- Execs with Prada said 'softening consumption patterns" in some key regions could continue to weigh on results.
- On watch: Louis Vuitton (LVMUY), Coach (COH), Ralph Lauren (RL), Michael Kors (KORS), Gucci Group (GUCG), Swatch (SWGAY), Burberry (BURBY), Estee Lauder (EL), Hermes (HESAF), Richemont (CFRUY).
Oct. 29, 2013, 1:48 PM
- Luxury goods sales will rise 6% this year in constant exchange rates to top last year's mark of 5%, estimates Bain.
- A maturing market in China has been offset in part by strong luxury trends in Malaysia and Indonesia.
- Global ultra high-end retailers: Prada, Louis Vuitton (LVMUY), Coach (COH), Ralph Lauren (RL), Michael Kors (KORS), Gucci Group (GUCG), Swatch (SWGAY), Burberry (BURBY), Estee Lauder (EL), Hermes (HESAF), Richemont (CFRUY).
Oct. 18, 2013, 3:33 PM
- Burberry (BURBY.PK +1%) tells investors incoming CEO Christopher Bailey will take an "unconventional" approach, Financial Times reports. Bailey, the designer credited with turning Burberry into a global luxury brand, will meet with a creative and executive team to determine how responsibilities will be divided once CEO Angela Ahrendts departs for Apple next year.
- A source told the paper, "What he is not going to do is take his eye off the 8-ball in terms of all the creative stuff, which is so crucial to the company." The appointment is unprecedented, and investors' concerns sent shares tumbling 10% in 2 days before they started clawing back losses.
Oct. 15, 2013, 2:57 AM
- Apple (AAPL) has named Angela Ahrendts, the CEO of British luxury brand Burberry (BBRYF.PK), to the newly created position of Senior VP of Retail & Online Stores. Ahrendts is set to join in the spring.
- Apple has been without a retail head since John Browett was shown the door a year ago, leaving CEO Tim Cook in charge of retail on an interim basis
- Burberry will replace Ahrendts with its Chief Creative Officer, Christopher Bailey. (PR)
Jul. 10, 2013, 5:11 AMBurberry's (BBRYF.PK) FQ1 revenue jumped 18% on year to £339M and beat consensus of £316M, while comparable-store sales at the British luxury brand grew 13% vs 8% in FQ4. Of note is that Hong Kong and China helped drive double-digit growth in comparable sales in Asia, a tale that contrasts with a fall in Chinese imports in May and June. Still, Burberry warned that "the macro outlook remains uncertain." (PR) | Comment!
Jul. 2, 2013, 7:05 AMRetail sales in Hong Kong grew 12.8% in May to trail the estimates of analysts calling for a 21% gain by a wide margin. The drop could clip expectations for luxury companies which have increased their investments and presence in the region. On watch: Gucci (GUCG.PK), Prada, Louis Vuitton (LVMUY.PK), Coach (COH), Ralph Lauren (RL), Michael Kors (KORS), Swatch (SWGAY.PK), Burberry (BURBY.PK), and Tiffany (TIF). | Comment!
Jun. 5, 2013, 7:49 AMHigh-end sellers in Hong Kong (MAGOF.PK, COH, TIF, RL, BURBY.PK, KORS, GUCG.PK) saw an influx of traffic during the three-day May Day holiday which could help boost sales totals for the quarter. According to the Hong Kong Tourism Board, the number of mainlanders trekking over to Hong Kong jumped 50% Y/Y during the period. A stronger yuan might be motivating more Chinese consumers to hunt for lower prices in Hong Kong. | 3 Comments
May. 24, 2013, 10:46 AMLuxury retail companies seem to be seeing something more than economists do as they ramp up investments and marketing on expectations for increased high-end spending in the U.S. Even with all the focus on the growth potential for the luxury sector in China and Hong Kong, by sales the U.S. market is still twice as big and has plenty of upside, according to industry insiders. A wildcard in the mix is the impact from some relaxed rules on visa approvals for wealthier tourists from emerging markets. On watch: Hermes, LVMH Moet Hennessy (MAGOF.PK), Gucci (GUCG.PK), Louis Vuitton (LVMUY.PK), Coach (COH), Tiffany (TIF), Ralph Lauren (RL), Burberry (BURBY.PK), Saks (SKS), Hugo Boss, Christian Dior (CHDRF.PK). | Comment!
May. 20, 2013, 8:29 AMThe flood of tourists into Hong Kong from Mainland China looks promising to global retailers setting up shop in the region, although the tilt towards more bargain shopping could be a trend to watch for high-end sellers. Outlet malls have seen the biggest gains in traffic and sales in Hong Kong which sets up nicely for retailers that planned a strategy which pivots on squeezing profits from the channel. Hong-Kong watching: Nike (NKE), Limited Brands (LTD), Gucci (GUCG.PK), Prada, Louis Vuitton (LVMUY.PK), Coach (COH), Ralph Lauren (RL), Michael Kors (KORS), Swatch (SWGAY.PK), Burberry (BURBY.PK), and Tiffany (TIF). | Comment!
May. 2, 2013, 7:11 AMRetail sales in Hong Kong rose 9.8% in March to 40.2B HKD ($15.8B) to come in significantly slower than the 15% consensus forecast of analysts. By volume, sales rose 10.2% compared to the forecast for 14% and the 21.9% pace seen in February when the Lunar New Year holiday hit the calendar. Luxury sellers in particular are looking for strong sales numbers from Hong Kong. On watch: Gucci (GUCG.PK), Prada, Louis Vuitton (LVMUY.PK), Coach (COH), Ralph Lauren (RL), Michael Kors (KORS), Swatch (SWGAY.PK), Burberry (BURBY.PK), and Tiffany (TIF). | Comment!
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Burberry is a global luxury brand with a distinctive British heritage, core outerwear and large leather goods base and some of the most recognised icons in the world. Burberry designs and sources apparel and accessories, selling through a diversified network of retail (including digital),... More
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