Chanel expects to be riding high again this year after a tough 2020, with sales forecast to rise in double-digits. That’s according to the company’s CFO on Tuesday after it released its pandemic-hit 2020 figures.
The trading environment may have been volatile but luxury giant Richemont still managed to see net profit rising almost 40% in the financial year to the end of March, beating forecasts by a wide margin.
Walmart Inc on Tuesday raised its full-year earnings forecast after shoppers armed with government stimulus checks ventured back into stores, driving demand that is expected to continue through the year.
After the coronavirus pandemic took a sizeable toll on the diamond polishing industry in Surat, December 2020 saw polished diamond exports increase significantly, giving the sector a much needed boost.
Asos concluded a strong year with a four-month autumn and festive period that showed just how strong a business it is. Sales soared not just in the UK but globally and it expects higher profit as a result.
This year has increased the importance of Chinese consumers to the luxury sector as the overall market has shrunk while China’s purchases have surged. And there's more to come in the next few years too.
Total revenue and profits may have slumped at Capri holdings in the latest quarter, but the owner of Michael Kors, Versace and Jimmy Choo was upbeat as Chinese demand recovered strongly and e-tail soared.