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Canada Goose cuts forecasts after spike in China's COVID infections hit sales

UPDATE 3-Canada Goose cuts forecasts after spike in China's COVID infections hit sales Adds analyst and CEO comments, details from conf. call; updates shares By Granth Vanaik Feb 2 (Reuters) - Canada Goose Holdings Inc GOOS.TO , GOOS.N cut annual forecasts on Thursday after a spike in COVID-19 infections in China dulled store traffic and inflation bit into spending power in North America.
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Europe's luxury stocks have room to rise, but becoming costly

Europe's luxury stocks have room to rise, but becoming costly By Lucy Raitano LONDON, Jan 31 (Reuters) - Europe's glittering luxury companies, the region's top stock-market performers in 2023, may see yet more gains driven by a rebound in Chinese spending, but for some the sector is starting to look expensive. The likes of French luxury giant and Louis Vuitton-owner LVMH LVMH , and Swiss jewelry company Richemont CFR.S , have benefited from the resilience of their wealthy customers against the c
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H&M highlights fast-fashion gloom as luxury takes hit in China

WRAPUP 2-H&M highlights fast-fashion gloom as luxury takes hit in China Adds graphics, details H&M shares fall as costs almost wipe out earnings Results highlight struggle for fast fashion LVMH, Salvatore outline disruption from China Remy, Diageo see U.S. slowing Europe Inc's Q4 earnings expectations dim LONDON, Jan 27 (Reuters) - H&M HMb.ST said on Friday soaring costs had slashed its profits, the latest fast-fashion retailer to feel the pinch as consumers cut back, while LVMH and Salvatore Fe
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Ferragamo sales grow in 2022, but China COVID curbs hit Q4

Ferragamo sales grow in 2022, but China COVID curbs hit Q4 MILANO, Jan 26 (Reuters) - Sales at Italian luxury goods group Salvatore Ferragamo SFER.MI rose by 5.7% at constant exchange rates last year, with a slowdown in the fourth quarter blamed on COVID restrictions in China. Revenues reached 1.252 billion euros ($1.36 billion) in 2022, Ferragamo said on Thursday, versus 1.272 billion euros estimated on average by analysts according to a Refinitiv consensus.
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Luxury giants bank on Chinese return as Western shoppers sober up

RPT-PREVIEW-Luxury giants bank on Chinese return as Western shoppers sober up Repeats, text unchanged Luxury sector is seen among largest winners of China's reopening LVMH kicks off sector's earnings reports on Thursday Some Americans are cutting back on discretionary purchases By Mimosa Spencer PARIS, Jan 23 (Reuters) - The focus of the luxury industry is shifting back to China, with hopes that its high-end spenders will once again splurge on designer goods during Lunar New Year festivities as
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Swatch positive on recovery in luxury demand from China

UPDATE 3-Swatch positive on recovery in luxury demand from China Says January sales have exceeded January 2022 Company now expects record sales for 2023 Stock hits highest level since July 2021 Recasts, adding analysts, share price reaction By John Revill ZURICH, Jan 24 (Reuters) - Swatch Group UHR.S shares hit their highest level in nearly two-and-a-half years on Tuesday after the world's biggest watchmaker said it expected a recovery in luxury demand from China.
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Luxury giants bank on Chinese return as Western shoppers sober up

PREVIEW-Luxury giants bank on Chinese return as Western shoppers sober up Luxury sector is seen among largest winners of China's reopening LVMH kicks off sector's earnings reports on Thursday Some Americans are cutting back on discretionary purchases By Mimosa Spencer PARIS, Jan 23 (Reuters) - The focus of the luxury industry is shifting back to China, with hopes that its high-end spenders will once again splurge on designer goods during Lunar New Year festivities as Beijing relaxes COVID curbs
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Europe Inc earnings season a test for market optimism

ANALYSIS-Europe Inc earnings season a test for market optimism By Joice Alves LONDON, Jan 23 (Reuters) - Europe's upcoming corporate earnings season is likely to show whether the renewed optimism about the economy that has buoyed equities in recent weeks is grounded in reality. The pan-European STOXX index .STOXX is up 6% since the start of the year, hitting its highest since April after better-than-expected economic data and improved German investor sentiment .
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Richemont, Burberry optimistic about China luxury sales

CORRECTED-WRAPUP 1-Richemont, Burberry optimistic about China luxury sales Correcting 1st and 5th paras in Wednesday's story to show Richemont did not give a projection for its performance By Paul Sandle and John Revill LONDON/ZURICH, Jan 18 (Reuters) - Burberry said it was optimistic consumers in China would start spending again and Richemont saw a rebound there before the holiday, helping offset three years of upheaval from the government's strict COVID-19 lockdowns and soaring infections.
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FTSE 100 slips as rising food prices hurt consumer stocks

UPDATE 2-FTSE 100 slips as rising food prices hurt consumer stocks For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Both FTSE 100 and FTSE 250 slip 0.3% Currys gains after retaining full-year forecast Burberry rises on China recovery hopes FTSE 100 hovers near all time high Updates to market close By Johann M Cherian and Shashwat Chauhan Jan 18 (Reuters) - UK's FTSE 100 was dragged down by consumer stocks on Wednesday as British inflation
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European shares extend winning streak on earnings boost

UPDATE 2-European shares extend winning streak on earnings boost For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Germany will not fall into recession - Chancellor Scholz Richemont climbs on higher quarterly sales ASMI jumps on strong orders, Q4 sales beat STOXX 600 rises 0.2%, up for sixth straight day Updates to market close By Bansari Mayur Kamdar and Ankika Biswas Jan 18 (Reuters) - European shares marked their longest winning streak
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UK Stocks-Factors to watch on Jan 18

Jan 18 (Reuters) - Britain's FTSE 100 index .FTSE was flat as of 0802 GMT on Wednesday. * SMITHS GROUP: Smiths Group SMIN.L forecast higher 2023 organic revenue, buoyed by strong demand for energy and industrial services. * S4 Capital: S4 Capital SFOR.L said it expected to hit its full-year core earnings target after improving its margin in the second half of the year.
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Luxury eyes focused on China after Richemont's Q3 sales miss

CORRECTED-UPDATE 3-Luxury eyes focused on China after Richemont's Q3 sales miss Correcting 15th paragraph in Wednesday's story to show Richemont did not give a projection for its performance in China Q3 sales rise by 8% but miss market forecasts Mainland China sales drop 24% Company says customer demand in China now picking up All eyes on China for luxury sector, say analysts By John Revill ZURICH, Jan 18 (Reuters) - Cartier jewellery maker Richemont CFR.S missed market forecasts during its late
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UK Stocks-Factors to watch on Jan 18

Jan 18 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening lower on Wednesday with futures FFIc1 down 0.07%. * RYANAIR: Ryanair RYA.I is not seeing any signs of recession, CEO Michael O'Leary said, citing two weeks of record bookings this January and a recovery in demand from Britain. * BRITISHVOLT: Britishvolt filed for administration in a blow to the country's hopes of building a home-grown battery industry.
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Private equity persuades Italian luxury suppliers that bigger is better

* Italy's small luxury manufacturers joining forces * Fund investments helping to drive consolidation * Larger groups can speed supplies to customers * Also make it easier to prove ESG credentials By Elisa Anzolin and Valentina Za MILAN, Jan 16 (Reuters) - Italian businesses discovered the limits of their 'small is beautiful' motto when competition became global.
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UK Stocks-Factors to watch on Nov 17

Nov 17 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening almost flat with futures FFIc1 down 0.03% on Thursday. * IDS: Royal Mail's parent company International Distributions Services IDSI.L reported a first-half loss of 57 million pounds ($67.88 million) as higher costs and disruptions arising from strikes by its postal workers put a strain on its finances.
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Posh ice cream, craft beer in vogue as Chinese downsize their love of luxury

By Casey Hall SHANGHAI, Oct 14 (Reuters) - Chinese consumers are typically known for lavish spending on high-end handbags, clothes and accessories that sustain Western luxury brands. This year, however, economic ill winds have sapped much of their urge to splurge and it's the littler luxuries in life - artisanal food and drinks as well as smart trendy appliances - that have caught their eye.
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New York Times business news - Sept 29

Sept 29 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. - The United States and Russia are tussling over control of a United Nations organization that sets standards for new technologies, part of a global battle between democracies and authoritarian nations over the direction of the internet.
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British Business - Sept 29

Sept 29 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times - A rail strike scheduled for Saturday will be the biggest yet this year, as for the first time members of all four unions, the Rail, Maritime and Transport Workers (RMT) union, Unite, the Transport Salaried Staffs' Association and Aslef, the drivers' union, stage a co-ordinated walkout in protest at pay and wor
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Banks, commodity-linked stocks lead London's FTSE 100 lower

(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window) * FTSE 100 down 1.0%, FTSE 250 off 1.2% Sept 28 (Reuters) - UK's FTSE 100 tumbled on Wednesday, dragged by banks, oil majors and mining stocks, while sentiment was further dented by strong criticism from the International Monetary Fund (IMF) and ratings agency Moody's against tax cuts initiated by the government.
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