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L’Oreal to launch first Gucci beauty products as early as 2028, CEO says
2+ day, 23+ hour ago (148+ words) PARIS, July 30 (Reuters) - L'Oreal plans to launch its first Gucci beauty products as early as 2028, the company's Chief Executive Nicolas Hieronimus said on Thursday, adding he was "super ambitious" for the brand that is also showing signs of... L’Oreal to…...
BMW to review practices once deemed ‘untouchable’ as profit slumps
2+ day, 14+ hour ago (499+ words) BERLIN, July 30 (Reuters) – BMW will review working practices once deemed “untouchable”, the carmaker pledged on Thursday, after a 35% drop in second-quarter pretax profit underscored the pressures driving a shake-up across Germany’s auto sector. The premium carmaker blamed the earnings decline on…...
Lions coach: Terrion Arnold release ‘unfortunate’ but necessary
3+ day, 2+ hour ago (277+ words) Detroit Lions head coach Dan Campbell said Wednesday that it was “unfortunate” but necessary when discussing the team’s decision to release former cornerback Terrion Arnold last month. Arnold, a 2024 first-round draft pick, was arrested on felony charges of armed robbery…...
Porsche restructuring starting to pay off, says CEO
3+ day, 12+ hour ago (426+ words) BERLIN, July 29 (Reuters) – Porsche’s restructuring measures have begun to pay off, it said on Wednesday, allowing Volkswagen’s embattled luxury brand to keep its profit guidance unchanged despite cost pressures in Germany and declining sales in China. The Stuttgart-based maker of…...
Aston Martin loss wider than expected, keeps annual outlook intact
3+ day, 14+ hour ago (307+ words) July 29 (Reuters) – Aston Martin’s second-quarter loss was worse than market expectations on Wednesday, underscoring the scale of the challenges the luxury carmaker faces as it banks on sales of its Valhalla hybrid supercar and cost cuts to drive a turnaround....
Gucci beat sparks Kering rally as luxury rivals fail to impress
3+ day, 13+ hour ago (403+ words) July 29 (Reuters) – Shares in Kering surged as much as 11% after flagship brand Gucci delivered better-than-expected quarterly sales, lifting hopes that CEO Luca de Meo’s turnaround efforts are gaining traction even as results from rivals left the market cold. Kering’s stock…...
Cost cuts help Mercedes stabilise profit but China woes loom
4+ day, 9+ hour ago (480+ words) BERLIN, July 28 (Reuters) – Mercedes-Benz posted a higher profit in the second quarter helped by tough cost cuts, pushing its shares up on Tuesday, but intense Chinese competition dented the outlook for car sales and revenue. The results were a rare…...
LVMH sales tick up as US luxury demand offsets hit from Iran war
5+ day, 4+ hour ago (614+ words) PARIS, July 27 (Reuters) – Sales at luxury giant LVMH edged higher in the second quarter as strong demand from affluent U.S. shoppers helped offset weaker spending in Europe, where tourism has been hit by the Iran war. Sales at the owner…...
Porsche to axe one in five jobs by 2035 as China, EV woes bite
5+ day, 7+ hour ago (400+ words) By Rachel More and Ilona Wissenbach BERLIN, July 27 (Reuters) – German luxury carmaker Porsche will cut around one in five jobs by 2035, with 9,000 positions to be axed in total, as parent Volkswagen and its brands restructure in the face of weak…...
Porsche plans another 5,000 job cuts, German media reports
1+ week, 3+ day ago (199+ words) BERLIN, July 22 (Reuters) – Porsche could double the scope of its redundancy programme with plans to cut another 5,000 jobs, German media reported on Wednesday, as the German carmaker’s supervisory board met to discuss restructuring measures. The figure was reported by Manager…...