Representative Image Lululemon Athletica cut its annual sales and profit forecasts on Thursday, as demand for its pricey leggings and tank tops slowed in North America amid selective consumer spending. Its shares swung between heavy losses and gains to settle 5% higher after the bell as the athleisure wear maker’s profit beat estimates and it…
Representative photo India’s apparel exports clocked a robust growth of 11.85 per cent in July on the back of strong demand in the US and European markets, according to data compiled by the Confederation of Indian Textile Industry (CITI). Apparel exports shot up to $1,277.20 million during July this year from $1,141.95 million in the…
Consumers are rushing to buy gold, some even placing advance orders, on fears that prices may start rallying again after a recent decline, said jewellers and trade executives. Prices of the yellow metal fell after a customs duty cut in the budget but have since rebounded amid a rush of buyers in the world’s second-largest…
(Representative Image) German fashion house Hugo Boss on Monday cut its sales guidance for the year to a range of between 4.20 billion euros (USD 4.58 billion) to 4.35 billion euros over weakening global consumer demand especially in markets like China and the UK. The company earlier expected sales for the year at around 4.30…
Mumbai: The rupee weakened to a new low of 83.57 against the dollar in the interbank foreign exchange market on Tuesday. The dollar gained against most Asian currencies ahead of the US Fed‘s meeting on Wednesday.The rupee has been under pressure this week. After closing lower at 83.51 on Monday, the currency opened weak on…
Prices of Indian lab-grown diamonds (LGDs) have crashed by 45% in FY24 due to overproduction in the global markets. In FY24 global production of lab-grown diamonds stood at 40 million carats, which is almost 33% higher than FY23 production. Indian LGD exports have dropped by 18.2 % in April to $83.77 million in value terms…
CK Venkataraman “Actually, the intrinsic opportunity for the jewellery business of Titan is very-very strong. And I think post the election, there will be a certain stable demand as well,” says CK Venkataraman, MD, Titan Company.If I put the numbers in perspective for our viewers and looking at what brokerages have said, brokerages are of…
Representative Image New Delhi: Revenues of Indian diamond polishers are expected to drop by 30 – 35 per cent year-on-year to USD 14-15 billion, said a recent report by Crisil Ratings. The slump in revenues is projected owing to the economic slowdown as key markets including the US, the European Union (EU), and China have…
Sales at Lifestyle International, the company that runs an eponymous department chain in India, grew 46% in the year to March 2023 to Rs 11,810 crore. According to financials sourced from Tofler, Lifestlye International reported a net profit of Rs 700 crore during 2022-23. This is a 160 % increase from the last financial year….
