Luxury Stocks Fall as Chanel Results Hint at Tougher Times Ahead

-- Luxury stocks took a hit in Europe Wednesday after Chanel warned that the industry is “entering a more challenging environment” and analysts said they see growing pressure on profit margins at the exclusive brand.‘It Felt Like We Had Crashed’: Singapore Air Passenger Describes Turbulence TerrorThe Euro Stoxx Luxury 10 Index fell as much as 1.9%, the most in about a month, after privately owned Chanel Ltd. published 2023 financial results.

“The group refers to a less favorable market environment in 2024 and gives no indication — unlike in previous years — of its performance in recent months, suggesting that its growth has clearly slowed since the beginning of the year, in line with the sector as a whole,” Da Maia said in written comments.Why I Can’t Stop Buying Shares of This Magnificent High-Yield Dividend Stock in My TFSA

RICHMOND, B.C. — Retailer London Drugs says it is "unwilling and unable" to pay a multimillion-dollar ransom to cybercriminals who claim to have stolen data in a hacking attack that recently shut down its stores for more than a week. The company says in a statement that the criminals could leak stolen corporate files containing employee information on the dark web, calling the situation "deeply distressing.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Luxury Stocks Fall as Chanel Results Hint at Tougher Times AheadLuxury stocks took a hit in Europe Wednesday after Chanel warned that the industry is “entering a more challenging environment” and analysts said they see growing pressure on profit margins at the exclusive brand.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Premarket: Global stocks drift after Fed officials hint interest rates may not fall soonLatest data show that U.S. labour market remains tight; U.S. futures pointing lowewr
Source: globeandmail - 🏆 5. / 92 Read more »

GameStop and other meme stocks fall after 3-day surgeMeme stocks are fizzling out after making massive gains on the return of 'Roaring Kitty,' who was largely responsible for the 2021 short squeeze of GameStop ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

US crude stocks, gasoline and distillate inventories fall, EIA saysExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Stocks jump, yields fall on hopes U.S. labor tightness ebbingThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Markets today: Stocks rise and bond yields fall after U.S. jobs reportStock futures rose and bond yields fell after the latest jobs report bolstered confidence the U.S. Federal Reserve will be able to start cutting rates this year.
Source: BNNBloomberg - 🏆 83. / 50 Read more »