Gucci owner Kering issues profit warning after China sales slump Kering shares fell 13.3% on on Wednesday after the profit warning. Gucci accounts for about half of its parent firm’s revenues and two-thirds of its operating profit. The Italian fashion house ... 03/20/2024 - 3:30 pm | View Link
Luxury stocks slump as Gucci sales slide Luxury stocks tumbled in Europe Wednesday after a profit warning from the owner of Gucci laid bare a sharp slowdown in demand for high-end goods, especially in China. Shares of Kering plunged as ... 03/20/2024 - 12:37 am | View Link
Gucci owner Kering’s shares tumble 12% on profit warning Shares in French luxury conglomerate Kering dropped 11.9 per cent after falling sales in Asia for its Gucci brand triggered a rare profit warning ... which trade in Hong Kong, fell as much ... 03/19/2024 - 1:00 pm | View Link
Kering’s Gucci Warning Wipes $6.8 Billion Off Market Value The warning will likely prompt renewed speculation over how Kering might lessen its reliance on a brand known for flamboyant designs that are out of step with the current trend toward understatement. 03/19/2024 - 1:00 pm | View Link
Apple Inc. said that it removed Meta Platforms Inc.’s WhatsApp and Threads from its China apps store after an order from the country’s internet regulator, which said the services pose risks to the country’s security.
The order comes on the heels of a cleanup program Chinese regulators initiated in 2023 that was expected to remove many defunct or unregistered apps from domestic iOS and Android stores.
Ibotta, the Denver-based digital marketing and consumer rebate platform, raised $328 million for its investors and $198 million for itself in an initial public offering that outstripped expectations this week.
Underwriters had expected the company could get between $76 to $84 a share, in an offering that was intended to allow earlier investors to exit with a nice return.