LVMH Warns Chinese Are Curtailing Travel and Overseas Spending
'For the past three months, Chinese tourists have been traveling less and buying less,' when out of the country, LVMH deputy CEO Stephane Bianchi told National Assembly lawmakers in a hearing on Wednesday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
18 minutes ago
- Yahoo
Barrick Eyes Exit from Ivory Coast's Tongon Mine in $500 Million Deal with China's Zijin
Barrick Mining Corporation (NYSE:B) is one of the best cheap growth stocks to buy according to analysts. On July 23, 2025, reports emerged that China's Zijin Mining is in advanced talks to acquire Barrick's Tongon gold mine in Ivory Coast for up to $500 million. The deal, still subject to regulatory approval, comes as Barrick continues to streamline its portfolio by shedding lower-margin, shorter-life assets. Tongon, which began production in 2010, has seen its reserves decline in recent years and is projected to cease operations by 2027 without major reinvestment. Selling the mine would free up capital for Barrick to pursue higher-return opportunities, particularly in copper and long-life gold projects. The potential sale reflects Barrick's broader strategy of focusing on assets with strong margins and long production horizons. Management has signaled increased emphasis on copper, which now accounts for roughly one-fifth of the company's output, with a target of raising that share to 30 percent by 2029. Divesting from smaller, aging mines like Tongon aligns with this shift, enabling Barrick to redeploy resources toward growth-oriented ventures in regions such as Latin America, North America, and Central Asia. Barrick Mining Corporation (NYSE:B) is a global leader in gold and copper production, with operations spanning North and South America, Africa, the Middle East, and Asia. Founded in 1983, the company is headquartered in Toronto, Canada. While we acknowledge the potential of B as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18 minutes ago
- Yahoo
Asics' US Wholesale Business Is Booming
Asics Corp. raised full-year guidance and a projection for operating profit ahead of plan following a strong second quarter report. Results for the three months ended June 30 were helped strong strong performance in its performance running, sportstyle and Onitsuka Tiger categories. Asics' core performance sports category also showed gains in the quarter. Results were more than enough for the Japanese sportswear company to raise its operating profit projection for the year to 136 billion yen, one year ahead of its initial expectation as stated in its Mid-Term Plan 2026. The prior estimate for Fiscal Year 2025 was 120 billion yen back in February. It guided net sales to 800.0 billion yen for the year, up from 780.0 billion yen. More from WWD Asics Is Introducing a Super Bouncy Foam While Expanding Its Blast Franchise With Two New Models Asics, Salomon and Anta Are Experiencing Massive Growth on StockX in 2025 Shoe Prices Started to Climb in July After Months of Declines Also providing a tailwind to updated projections was 'reduced uncertainty around U.S. tariff impacts,' Asics said on Wednesday. U.S. President Donald Trump said last month that it had the parameters for a trade deal with Japan that set tariffs for Japanese imports to America at 15 percent, down from a proposed 25 percent. The final terms of the deal are still being negotiated. Even with the additional tariffs, the company raised upward its full-year operating profit guidance for the North America business to 15.0 billion yen from 11.5 billion yen. Net sales were also guided upward to 145 billion yen from February's forecast of 136 billion yen. Data for Asics North America — the region that includes the U.S., Canada and Mexico — showed a quarterly profit for the eighth time in the past nine quarters, driven by success of the wholesale channel. U.S. wholesale sales rose nearly 40 percent from year-ago levels. The running and sportstyle businesses also posted double-digit increases from year-ago levels. On a local currency basis, the U.S. and Mexico produced double-digit growth, while Canada reach a high single-digit growth year-to date. Separately, in retail, Asics' Meatpacking store posted a net sales growth of 15.5 percent in the quarter, aided by implementation of omnichannel initiatives to bolster the in-store assortment mix. 'The consistent demand for Asics footwear products across the region speaks to our relentless pursuit of developing technically advanced performance running products while remaining very aware of broader cultural and lifestyle trends to support the sportstyle category,' Koichiro Kodama, president and CEO of Asics North America, said. He said both the Megablast and Sonicblast performance running models, part of the company's Blast footwear series, will have expanded offerings for consumers this fall. The overall Asics operation ended the second quarter with earnings that rose 41.8 percent to 22.0 billion yen, up from 15.5 billion yen a year ago. Net sales were up 15.7 percent to 194.4 billion yen from 168.0 billion yen. By category, running net sales rose 4.8 percent to 86.9 billion yen for the quarter. The category was led by Novablast 5, which showed strong sales worldwide. Asics has also been actively introducing new products, taking advantage of momentum from the upcoming World Athletics Championships Tokyo 25 slated for next month. In core performance, net sales were up 8.2 percent to 18.6 billion yen. The category was driven by sales for shoes such as the DS Light X-Fly 6, a soccer spike that provides a barefoot feel with its SilkyWrap construction, as well as footwear for volleyball and all racquet sports. The sportstyle unit posted a 43 percent jump in net sales to 32.1 billion yen, driven by strong performance of Vintage Tech and sales of Gel-NYC from the Modern silo and Kinetic Fluent from Vis-Tech. The category also celebrated the 10-year anniversary of its Gel-Quantum franchise. The Onitsuka Tiger business posted a 45.2 percent jump in net sales to 37.5 billion yen. Its Tiger loafer features a distinctive silhouette with a voluminous toe. Net sales were robust in Japan to inbound tourists and in the Europe and Greater China regions. An Onitsuka Tiger store opened in Covent Garden, London, in May, and on the Champs-Élysées, Paris, in July. Asics said the Onitsuka Tiger will participate in Milan Fashion Week in September. Earlier this year saw the Sneaker Politics x Asics 'Just Say No' release, while earlier this month Asics released its new Gel-Sekiran sneaker in the U.S. for the first time, with JD Sports as an exclusive partner for the launch. And separately last month, Asics America moved its North American head office to 179 Lincoln Street in Boston's Leather District. The new five-story, 221,474-square-foot building, which is LEED Silver-certified, spans an entire city block and once was home to a shoe factory. Best of WWD All the Retailers That Nike Left and Then Went Back Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos] Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
Why Nio Stock Jumped 42% in July
Key Points Nio is betting on its sub-brands Onvo and Firefly to drive growth. Early response to its Onvo L90 SUV has exceeded expectations. With Nio starting L90 deliveries, its sales should pick up pace. 10 stocks we like better than Nio › After a dismal first half of the year, Nio (NYSE: NIO) stock made a dramatic comeback in July and surged 42% in the month, according to data provided by S&P Global Market Intelligence. Earlier in July, Nio reported a 17.5% year-over-year growth in deliveries for June. The Chinese electric-vehicle (EV) maker's recently launched sub-brands, Firefly and Onvo, contributed 40% to its June sales, and that's what caught everyone's attention. Although Nio launched its first Onvo model L60 late last year, its all-electric large three-row L90 SUV sparked unprecedented optimism last month. In the two weeks following the start of L90 pre-sales on July 10, Nio's stock shot up over 40% on the Hong Kong stock exchange. The optimism spilled over to the U.S., and Nio shares surged on the New York Stock Exchange as investors bet on a potential turnaround. Can Nio stock fly higher? Nio's deliveries of 24,925 vehicles in June was its highest so far this year. However, the company's July delivery numbers are already in, and it delivered only 21,017 vehicles in the month. That explains why Nio stock is down about 8% in August, as of this writing. Should investors be worried, though? I'd say no, because August should be a bigger month for Nio as it began deliveries of L90 on August 1. A local media report stated that Onvo president Shen Fei has set an internal target of delivering over 10,000 units of L90 in August alone. If Nio hits that number, the Onvo L90 will achieve the highest monthly sales among all of Nio's models in the company's history. Nio is aggressively ramping up production of L90 to fulfill deliveries. Meanwhile, Nio's other sub-brand Firefly, targeted to the mass market, is rapidly expanding overseas. Firefly launched its first namesake compact electric car in April this year to take on the BMW Mini and the Mercedes-Benz Smart. By the end of 2025, Nio expects Firefly to be available in 20 overseas markets, primarily across Europe. Nio will also launch its next-generation ES8 SUV in the coming months, which management believes should drive its Nio brand sales to 25,000 units per month. If management's numbers fall in place, Nio could soon be selling over 35,000 cars every month. Back in April, I believed Nio stock was incredibly cheap and a top value EV stock to buy. Given the company's push into mass markets and aggressive goals for L90, I see a lot more upside in the stock price. Should you invest $1,000 in Nio right now? Before you buy stock in Nio, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nio wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,427!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,119,863!* Now, it's worth noting Stock Advisor's total average return is 1,060% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 13, 2025 Neha Chamaria has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Nio Stock Jumped 42% in July was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
