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Coty Inc announced its second-quarter results for fiscal 2019, confirming it expects to make in a net profit for the period, despite overall sales taking a dive and supply chain issues. The New York-based cosmetic and luxury fragrance company said net…
Avon reported its fiscal 2018 results earlier in the month, saying revenues declined as the beauty giant continued to cull it sales representatives across the globe. The London-headquartered company said total revenue decreased 2% for the twelve months, while…
Fashion retailer Esprit shuttered 91 stores in the six months to December and recorded a loss of HK$1.773 billion (US$225.876 million). While the loss is massive, it is within the estimates Esprit provided at an investor presentation last November when it…
Sportswear giant Puma reported strong annual results in 2018, as the German company witnessed double-digit growth across all geographic zones and product divisions. For the year ending December 31, 2018, the Herzogenaurach-based company said sales increase by…
Tokyo stocks closed lower on Tuesday following media reports saying Indian warplanes crossed into Pakistani airspace over the ceasefire line in Kashmir and dropped payloads. The benchmark Nikkei 225 index, which opened higher, lost 0.37%, or 78.84 points, to…
Shoppers did not spend as much as expected this past holiday season. Holiday sales were up just 2.9 percent in 2018, the National Retail Federation said, on the heels of the Commerce Department announcing retail sales for December fell 1.2 percent, the…
Allianz Malaysia Bhd’s earnings increased by 15.3% in the fourth quarter ended Dec 31, 2018 (Q4) to RM100.04 million, from RM86.78 million in the previous corresponding quarter mainly due to higher underwriting profit from motor business arising from lower…
AirAsia X Bhd suffered a net loss of RM99.27 million in the fourth quarter ended Dec 31, 2018 compared with a net profit of RM84.42 million a year ago due to higher fuel prices. In a filing with Bursa Malaysia, the airline reported an increase in average fuel…
Korean Air unveiled its mid-term business strategy Tuesday, saying it aims to record 16.2 trillion won ($14.4 billion) in sales by 2023. The goal comes as the airline’s March shareholders’ meeting draws near. Korean Air Chairman Cho Yang-ho’s term at the…
An unseasonably warm winter and weak consumer sentiment in core markets has been blamed for a more than doubling of losses for Bossini International in the six months to December. The casual-fashion retailer reported a 10 per cent decline in group revenue to…
Chinese online discounter VIPShop is reaping the benefits of a 13 per cent increase in active customers last quarter to 32.4 million – well ahead of the 5 per cent full-year improvement. Its annual results released overnight showed net revenue soared 15.9 per…
The operator of South Korea’s CU convenience stores, BGF Retail, has achieved KRW189.5 billion (US$168.9 million) in operating profit last year, a leap of more than 600 per cent over last year. The company said on Tuesday its sales had risen by 515.3 per cent…
Air France-KLM, which was badly hit last year by strikes and management upheaval, reported on Wednesday that its annual net profits rose by 150% to 409 million euros (US$463 million). “The strong performance of our front-line teams and continued cost control…
CIMB Group Holdings Bhd’s 92.5%-owned T Bank CIMB Niaga Tbk reported an audited consolidated net profit of 3.5 trillion rupiah (RM1 billion) for the financial year ended Dec 1, 2018 a 16.9% growth compared with a year ago. The bank said the improved net…
Malaysia’s economy is likely to grow at a slow rate in April to June 2019 in view of the decline in the Leading Index (LI) in December 2018, according to the Statistics Department. Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the monthly change of…
Hong Kong flag carrier Cathay Pacific said on Wednesday it is expected to have swung back to profit in 2018, ending two successive losses as it embarks on a massive overhaul. The recovery also came in a year that saw it suffer an embarrassing data breach that…
