Latest news with #GreaterChina
Yahoo
17 hours ago
- Business
- Yahoo
Burberry Stems Sales Declines in First Quarter as Schulman's Strategy Takes Hold
This story was updated at 2:00 p.m. ET on Friday, July 18. — What a difference a year makes. More from WWD Nuova Accademia di Belle Arti to Open a Campus in London Priya Nair Returns to India as CEO, Managing Director of Hindustan Unilever Limited Topshop to Stage Fashion Show in London After Seven-year Hiatus Burberry's focus on simplification, productivity and cash flow helped to narrow the double-digit sales declines of past months, with the company reporting 433 million pounds in retail revenue, a 6 percent drop at reported exchange, and a 2 percent decline at constant rates in the first fiscal quarter. That compares with double-digit declines last summer, when the board brought in chief executive officer Josh Schulman to steady the ship, and initiate a turnaround. Schulman's approach is working, and investors responded with gusto, sending the share price up more than 6 percent to close at 13.27 pounds on Friday, July 18. Comparable store sales were down 1 percent compared with 21 percent in the corresponding period last year, with improvement across all regions, and the Americas and EMEIA region showing positive growth. The Americas region was up 4 percent, followed by EMEIA, or Europe, the Middle East, India and Africa, which rose 1 percent. Greater China was down 5 percent, while Asia-Pacific fell 4 percent in the three months to June 30. The results outstripped expectations, with analysts projecting a 3 percent decline in comparable store sales. Deutsche Bank noted that Burberry shares are up 27 percent so far this year, 'significantly outperforming both larger peers [including LVMH and Hermès] and turnaround peers [Kering and Ferragamo].' The bank added that 'further material growth henceforth will depend largely on the company's ability to replicate the success of its core categories onto noncore segments to drive growth and profitability.' Citi looked farther ahead, speculating that underlying retail sales 'could turn positive' in the second fiscal quarter for the first time in two years. The 'execution is on track, with new [fall and spring] collections and a wider pricing architecture delivered to stores over the next three quarters to reignite brand desirability,' Citi said. Bernstein said 'the sequential improvement in same store sales — against a most difficult environment — suggest that things are starting to work.' The bank added that it expects further improvements in Burberry's second half 'as the full impact of the new marketing vision will become apparent with the fall collection.' It believes that Burberry also has a 'more realistic pricing approach in leather goods,' which should help fuel growth going forward. Schulman said that over the past 12 months, Burberry has moved from stabilizing the business to driving Burberry Forward, its growth plan, with confidence. 'The improvement in our first-quarter comparable sales, strength in our core categories, and uptick in brand desirability gives us conviction in the path ahead. Our autumn 2025 collection is being well received by a broad range of luxury customers as it arrives in stores,' he said. Schulman added: 'Although the external environment remains challenging and we are still in the early stages of our transformation, we are encouraged by the initial progress we are starting to see.' Looking ahead to the full 2025-26 year, Burberry stressed that it's still in the early stages of the turnaround, which has been taking place in a macroeconomic environment that remains uncertain. 'Our focus this year is to build on the early progress we have made in reigniting brand desire as a key requisite to growing the top line,' the company said, adding that in the first half, it will continue to prioritize investment. It plans to deliver margin improvement 'with a continued focus on simplification, productivity and cash flow. We remain confident that we are positioning the business for a return to sustainable, profitable growth.' Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange
CNA
2 days ago
- Entertainment
- CNA
East Asia Tonight - Thu 17 Jul 2025
48:28 Min Spotlight on East Asia, a region steeped in history and now helping to write the future of our world. We'll break down the key stories and explain why they matter. East Asia Tonight About the show: 'East Asia Tonight' shines a spotlight on a region steeped in history and now helping to write the future of our world. Greater China, Japan, and the Korean Peninsula have economic and political might, and are major drivers of daily news and business. We'll break down the key stories and explain why they matter.
Globe and Mail
2 days ago
- Business
- Globe and Mail
Can NIKE's International Unit Outrun Global Retail Volatility?
NIKE, Inc. NKE is a globally recognized American brand specialized in athletic footwear, apparel and sports equipment. With presence in more than 190 countries worldwide, NKE leverages its iconic branding, innovation-led product development and athlete partnerships to maintain a dominant position in the global sportswear market. The company's vast international presence serves as a key growth engine, contributing to its revenue mix and helping to mitigate geographic concentration risk amid global economic volatility. NIKE's International division is facing headwinds from global retail volatility, soft consumer demand and structural cost pressures such as tariffs and unfavorable currency movements. The near-term outlook remains cautious with soft revenues and margins internationally. With the holiday order book now in hand, the company has increased visibility into the next phase of its product portfolio transition. Management noted that the holiday order book is up year over year for fiscal 2026, with growth in North America, EMEA and APLA partly offset by Greater China. Although international momentum for the near term seems challenged, NIKE's strategic playbook offers a clear path toward recovery in the long term. NIKE's globally expansive supply chain is designed to be responsive and resilient. NKE's aggressive 'Win Now' initiatives, product innovation and partner-led distribution improvements might offer further aid. NKE's Competition in the Global Arena adidas AG ADDYY and lululemon athletica inc. LULU are the key companies competing with NIKE in the global market. adidas is actively pushing to expand its share in the global footwear market through product innovation, strategic collaborations and bold marketing. While recent challenges, especially in Greater China, have impacted performance, the brand remains committed to global diversification. Its regional strategies are rooted in local consumer insights, digital acceleration and tailored offerings, all aimed at reigniting growth and reinforcing its position as a global leader in sportswear. lululemon is gaining strong traction in international markets, including Mainland China and the Rest of the World, as the brand connects well with customers globally. In first-quarter fiscal 2025, LULU's total international revenues increased 19% year over year and 20% in constant currency. Driven by new guest acquisition, low markdown dependence and rising brand awareness, the brand sees significant global potential. lululemon aims to grow international revenues to nearly 50% of total sales and quadruple 2021 levels by the end of 2026. NKE's Price Performance, Valuation and Estimates Shares of NIKE have lost 4.8% year to date compared with the industry 's decline of 7.8%. Image Source: Zacks Investment Research From a valuation standpoint, NKE trades at a forward price-to-earnings ratio of 39.93X compared with the industry's average of 29.12X. Image Source: Zacks Investment Research The Zacks Consensus Estimate for NKE's fiscal 2025 earnings implies a year-over-year plunge of 22.7% while that for fiscal 2026 indicates growth of 55%. The company's EPS estimate for fiscal 2025 and fiscal 2026 has moved down in the past 30 days. Image Source: Zacks Investment Research NIKE stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks' Research Chief Picks Stock Most Likely to "At Least Double" Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren't winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%. See Our Top Stock to Double (Plus 4 Runners Up) >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NIKE, Inc. (NKE): Free Stock Analysis Report lululemon athletica inc. (LULU): Free Stock Analysis Report Adidas AG (ADDYY): Free Stock Analysis Report
CNA
2 days ago
- Entertainment
- CNA
East Asia Tonight - Wed 16 Jul 2025
47:38 Min Spotlight on East Asia, a region steeped in history and now helping to write the future of our world. We'll break down the key stories and explain why they matter. East Asia Tonight About the show: 'East Asia Tonight' shines a spotlight on a region steeped in history and now helping to write the future of our world. Greater China, Japan, and the Korean Peninsula have economic and political might, and are major drivers of daily news and business. We'll break down the key stories and explain why they matter.
Yahoo
2 days ago
- Business
- Yahoo
ZEISS Group Appoints Martin Fischer as President and CEO of ZEISS Greater China
SHANGHAI, July 17, 2025 /PRNewswire/ -- ZEISS Group recently announced that Martin Fischer will officially take on the role of President and CEO of ZEISS Greater China, effective from October 1, 2025, reporting directly to Andreas Pecher, President and CEO of the ZEISS Group. Martin Fischer succeeds Maximilian Foerst, who joined the Executive Board of the ZEISS Group as the President and CEO of Carl Zeiss Meditec AG on June 1, 2025. ZEISS Greater China manages all business activities in China's mainland, Hong Kong SAR, and Taiwan Region. "ZEISS's commitment to Greater China remains strong. China is ZEISS's largest market and is an important cornerstone in its global footprint. I am very pleased that Martin Fischer has agreed to take on this important position," says Andreas Pecher. "Martin is a very experienced leader, who is already quite familiar with ZEISS and our customers. This will ensure a smooth transition as we continue our Greater China strategy that started under Maximilian Foerst's leadership." Martin Fischer joined ZEISS in 2006 and has held positions at various business segments including Semiconductor Manufacturing Technology (SMT), Industrial Quality Solutions (IQS), and Research Microscopy Solutions (RMS). Since 2022, he has been Global Head of Sales, Service & Marketing for RMS. In this position, he has expanded the commercial organization to include marketing and customer experience. He also set up and led various strategically important programs. These have enabled the RMS team to successfully sell agnostic software and enter the future growth markets of biotech & pharma as well as electronics/semiconductors. In addition, he has made important contributions to regional growth projects in the US and APAC, and to the strategic programs for the ZEISS Group. "I am very honored to be appointed as President and CEO of ZEISS Greater China. Maximilian successfully led all the business segments in the region for the past 16 years, laying a solid foundation for future development," said Martin Fischer. "I am excited to lead the Greater China team, which consists of a strong and efficient management team, along with thousands of dedicated and passionate employees. The strategic development of ZEISS Greater China is at the forefront of the Group, and I look forward to achieving more progress in innovation, localization, and all business segments in the future." About ZEISS Group ZEISS is an internationally leading technology enterprise operating in the fields of optics and optoelectronics. In the fiscal year 2023/24, the ZEISS Group generated annual revenue totaling nearly 11 billion euros in its four segments: Semiconductor Manufacturing Technology, Industrial Quality & Research, Medical Technology and Consumer Markets (as of 30 September 2024). Currently, 15 percent of revenue is invested in science and R&D. For its customers, ZEISS develops, produces and distributes highly innovative solutions for industrial metrology and quality assurance, microscopy solutions for life sciences and materials research, and medical technology solutions for diagnostics and treatment in ophthalmology and microsurgery. The name ZEISS is also synonymous with the world's leading lithography optics, which are used by the chip industry to manufacture semiconductor components. There is global demand for trendsetting ZEISS brand products such as eyeglass lenses, camera lenses and binoculars. With a portfolio aligned with future growth areas like digitalization, healthcare and smart production and a strong brand, ZEISS is shaping the future of technology and constantly advancing the world of optics and related fields with its solutions. The company's significant, sustainable investments in research and development lay the foundation for the success and continued expansion of ZEISS's technology and market leadership. Today, around 46,500 employees work at the ZEISS Group globally in around 50 countries. The company is headquartered in Oberkochen (Germany). The Carl Zeiss Foundation, one of the largest foundations in Germany committed to the promotion of science, is the sole owner of the holding company, Carl Zeiss AG. Further information available at About ZEISS in Greater China ZEISS' history in Greater China dates to 1957. ZEISS is now represented in the Greater China market with all segments including Semiconductor Manufacturing Technology, Industry Quality & Research, Medical Technology, and Consumer Markets. Since 2021, China has become ZEISS's largest single market in the world, and one of the most innovative and fastest-growing markets. In the fiscal year 2023/24, ZEISS in Greater China generated annual revenue totaling 15.1 billion RMB, with a 12% increase compared to the prior year. Over 7,000 employees throughout the country with more than 60 sites of manufacturing factories, sales & service offices and R&D centers strongly support our customers in the region, and guarantee every related business internationally. The headquarters of ZEISS Greater China is located in Shanghai Pilot Free Trade Zone. It is home to a wide range of activities: China Sales & Service headquarters, competence and training centers, manufacturing facility for the ZEISS Industrial Metrology business group and Shanghai Innovation and R&D Center, ZEISS Group's first corporate innovation and R&D center outside of Germany. ZEISS regional headquarters and the Innovation and R&D Center in Shanghai, together with the Suzhou R&D and Manufacturing Site and Guangzhou Knowledge Manufacturing Base are creating a closed-loop industrial chain that includes medical devices, high-end manufacturing and R&D equipment, and optical lenses. ZEISS is committed to supporting domestic R&D and works closely with Chinese partners to ensure the high-quality and sustainable development of China's cutting-edge industries. Further information available at View original content to download multimedia: SOURCE ZEISS Group
