Luxury goods group Burberry is planning for trading to remain tough but expects cost-cutting to underpin earnings this year, it said on Tuesday 19 May as it met forecasts with a 12.5% fall in 2008/2009 profit.
Richemont, the maker of Cartier watches, beat forecasts with a 12 percent drop in its full-year operating profit, boosting shares, but cautioned it faced tough markets and said its head would step down this year.
Luxury goods stocks continued to slide on Tuesday 28 April as the swine flu outbreak raised fears it could hold back travellers, traditional buyers of upmarket handbags, watches and other pricey items.
Exports of Swiss watches fell for a fifth month in row in March, with sales in the key markets of Hong Kong and the United States dropping fast as spending on luxury items shrank, data showed on Thursday 23 April.
The European Council has adopted a new plan of action for customs offices fighting counterfeiting - a phenomenon which now effects every industry. The plan aims to “protect the health and security of our citizens, as ...
Demand for Swiss timepieces fell sharply for the fourth month in row in February, with exports to the United States tumbling by almost half as the wealthy cut spending on accessories, data showed on Thursday March 19.