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.

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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.
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