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Burberry reports disappointing results, Detroit Auto Show : Lexus unveils convertible Lexus LC, Chaumet Launches Laurier Precious Jewellery Collection and the other news of the day.
Press review
Burberry reports disappointing holidays sales
Burberry reported a 1% increase in constant store sales in the third quarter of its 2018-2019 fiscal year, whereas analysts had anticipated an average increase of 2%.
The British group, whose first collection of its new artistic director Riccardo Tisci’s will be available next month in stores, has confirmed its forecast of stable sales and adjusted operating margin at constant exchange rates for the full year.
Burberry had said in November that he had received an “exceptional response” to Riccardo Tisci’s first collection, presented in September.
Detroit Auto Show : Lexus unveils convertible Lexus LC
Last edition in the cold January for the Detroit trade show. Competed by the CES of Las Vegas, from 2020, the show will be held in June.
The German manufacturers having avoided this edition, it is therefore a US/Asia match that is being played.
Exclusive to the lounge, Lexus unveils its convertible Lexus LC, a new concept for the Japanese brand, there could be a convertible version. For the moment, the showcar is presented with nothing on its head, no soft tops or hard tops. The project is attractive and the bets are being placed to see it go into production. With the 477 hp V8 under the hood, the BMW 8 Series Convertible or Mercedes S-Class Convertible would make them the perfect rivals.
Chaumet Launches Laurier Precious Jewellery Collection
Chaumet launches its new collection of Precious Laurel Jewellery, which celebrates the symbolic plant that has always been present in the House’s creations.
Created in diamonds and white gold, this glorious laurel collection magnifies contemporary femininity. The laurel, considered a symbol of Josephine’s beloved immortality and an allegory of Napoleon’s victory and power, also evokes a tribute to Apollo and Daphne. As described on the brand’s official website,”At Chaumet, it glorifies femininity.”
At the same time, installed on the prestigious Place Vendôme for more than two centuries, the house has been undergoing renovation work. This was an opportunity for the jeweller to relocate to the Rive gauche and present a temporary address at number 165 boulevard Saint-Germain.
Hugo Boss shares rise on wholesale
Hugo Boss jumped almost 5% to 61.72 euros after announcing better than expected fourth quarter sales.
Sales of the German luxury group increased by 7% (+6% excluding currency effects) to €783 million during the period. The consensus was for a turnover of 766 million.
Hugo Boss will publish its annual results on March 7. The group continues to aim for an adjusted 2018 Ebitda stable at €491 million. The market is slightly less optimistic, with a forecast of €485 million, down 1%.
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