Latest news with #Hermes
New York Post
4 hours ago
- New York Post
Slain Hamas chief Yahya Sinwar's widow smuggled out of Gaza — and is already remarried: report
The widow of slain Hamas chief Yahya Sinwar, the mastermind of the Oct. 7 terror attacks, was reportedly smuggled out Gaza with their kids using fake passports — and has already remarried. Samar Muhammad Abu Zamar managed to slip out of the Palestinian enclave with huge chunks of cash in the early days of the war, Ynet reported Wednesday, citing multiple sources. The Birkin bag-loving widow fled with the couple's two young sons to Turkey, where she remained in hiding as Israeli forces hunted down her husband, the sources added. Advertisement 5 Widow of Yahya Sinwar was reportedly smuggled out of Gaza and is remarried. IDF 5 Hamas leader Yahya Sinwar's wdow reportedly spotted with $32,000 Birkin bag as she fled Gaza hideout. IDF Then, just months after her husband was wiped out by Israeli forces in a routine ground operation in southern Gaza last October, Abu Zamar quickly remarried. 'She's no longer here — she crossed through the Rafah border using a fake passport,' one source told the outlet, adding that the operation involved 'high-level coordination, logistical support and large sums of money that regular Gazans don't have.' Advertisement Her new marriage and resettlement was orchestrated by Fathi Hammad — a Hamas operative who is renowned for helping terrorists and their families disappear. 5 The front page of the New York Post on October 18, 2024. csuarez Details on her new husband weren't immediately known. It comes after footage emerged late last year of the terror kingpin's wife fleeing into a Gaza tunnel while clutching what Israeli officials claimed was a $32,000 Birkin bag just hours before the Oct. 7 massacre unfolded. Advertisement 5 Footage of Sinwar fleeing with his family the night before the October 7 terror attack. IDF 'Did Sinwar's wife enter the tunnel with him on October 6 carrying a Birkin bag estimated to cost around $32,000?!' an IDF spokesperson wrote on X, alongside a screenshot of the woman holding what appeared to be a super-luxe Hermes bag. 5 Yahya Sinwar, the mastermind behind the October 7 terror attacks, was killed by Israeli forces. SOPA Images/LightRocket via Getty Images Advertisement 'While Gaza residents have no money for food, we see many examples of Yahya Sinwar and his wife's special love for money.' It wasn't clear if that bag was a knock off.
Fashion Network
19 hours ago
- Business
- Fashion Network
Luxury's split between winners and losers is only getting wider
One striking example of the sector's divide is LVMH versus French peer Hermes International SCA. Sales at LVMH's key Fashion & Leather Goods division are expected to have dropped 7.8% in the second quarter, according to analyst estimates. The company reports after the bell on Thursday. Hermes, which has been an example of how companies can thrive on selling the highest-end items, is expected to report revenue growth of 12% at its leather goods division. Its results are due on July 30. In the case of the Louis Vuitton and Tiffany & Co. owner, the stock has lost roughly half of its value over the past two years, losing its crown of Europe's biggest stock, with investors increasingly worried about an unprecedented demand slump in China. Hermes shares, on the other hand, are weathering the broader industry pullback. After a 160% jump since the end of 2020, the stock is little changed this year versus a 7% drop in Goldman Sachs Group Inc.'s basket of luxury shares. In the current economic context, pricing power is critical, said Helen Jewell, Europe, Middle East and Africa chief investment officer at BlackRock Fundamental Equities. 'The challenge for investors has been some of the names that we thought had greater brand strength, and it turned out they actually didn't,' she said, adding that there could be some buying opportunities after the selloff in the sector 'but you do need to be selective.' For the sector as a whole, the difference is stark between now and the 2021 to 2023 boom times, when investors were rushing to snap up any European luxury shares as they reaped the profits from shoppers on a post-pandemic spending spree. But with China's sluggish economy putting a dent into demand for pricey handbags and watches, investors are buying shares in the brands that can captivate consumers and selling the ones that can't. Among this year's winners, shares in Burberry have surged more than 30%. The UK fashion brand is gaining traction with its turnaround plan and winning new customers through its outwear push. To some investors, luxury valuations are still too high overall even after this year's plunge in a number of stocks. The industry has an average forward price-earnings ratio of 27, according to data compiled by Bloomberg. That's a near 85% premium to the broader market and above the long-term premium from the past 10 years. 'This is a sector that is fully exposed to tariffs and fully exposed to the weaker dollar,' said Roland Kaloyan, head of European equity strategy at Societe Generale SA. 'It's going to be quite difficult, so I stick to my underweight.'
Fashion Network
19 hours ago
- Business
- Fashion Network
Luxury's split between winners and losers is only getting wider
For Europe's luxury stocks, this earnings season will hammer home the widening gulf between the winners and the losers. The industry got off to a promising start with robust earnings from British trench coat maker Burberry Group Plc that sent its stock up as much as 9% and better-than-expected sales at Cartier owner Richemont. But upcoming reports from LVMH Moët Hennessy Louis Vuitton SE, Kering SA and Salvatore Ferragamo SpA look less promising. If sales at these companies undershoot already weak forecasts, the shares may extend this year's drop that has wiped out market value of as much as 175 billion euros (205 billion dollars). While the outlook for luxury shares is crucial for Europe's stalled equity market rally given the weight of these companies, investors have to be more selective about the stocks they pick. 'It's not going to be one-tide-lifts-all-boats for the sector,' said Stefan-Guenter Bauknecht, a senior portfolio manager at DWS. 'It really depends on the category and how the brand is perceived in the category. And the VIP certainly helps.' One striking example of the sector's divide is LVMH versus French peer Hermes International SCA. Sales at LVMH's key Fashion & Leather Goods division are expected to have dropped 7.8% in the second quarter, according to analyst estimates. The company reports after the bell on Thursday. Hermes, which has been an example of how companies can thrive on selling the highest-end items, is expected to report revenue growth of 12% at its leather goods division. Its results are due on July 30. In the case of the Louis Vuitton and Tiffany & Co. owner, the stock has lost roughly half of its value over the past two years, losing its crown of Europe's biggest stock, with investors increasingly worried about an unprecedented demand slump in China. Hermes shares, on the other hand, are weathering the broader industry pullback. After a 160% jump since the end of 2020, the stock is little changed this year versus a 7% drop in Goldman Sachs Group Inc.'s basket of luxury shares. In the current economic context, pricing power is critical, said Helen Jewell, Europe, Middle East and Africa chief investment officer at BlackRock Fundamental Equities. 'The challenge for investors has been some of the names that we thought had greater brand strength, and it turned out they actually didn't,' she said, adding that there could be some buying opportunities after the selloff in the sector 'but you do need to be selective.' For the sector as a whole, the difference is stark between now and the 2021 to 2023 boom times, when investors were rushing to snap up any European luxury shares as they reaped the profits from shoppers on a post-pandemic spending spree. But with China's sluggish economy putting a dent into demand for pricey handbags and watches, investors are buying shares in the brands that can captivate consumers and selling the ones that can't. Among this year's winners, shares in Burberry have surged more than 30%. The UK fashion brand is gaining traction with its turnaround plan and winning new customers through its outwear push. To some investors, luxury valuations are still too high overall even after this year's plunge in a number of stocks. The industry has an average forward price-earnings ratio of 27, according to data compiled by Bloomberg. That's a near 85% premium to the broader market and above the long-term premium from the past 10 years. 'This is a sector that is fully exposed to tariffs and fully exposed to the weaker dollar,' said Roland Kaloyan, head of European equity strategy at Societe Generale SA. 'It's going to be quite difficult, so I stick to my underweight.'
The Independent
a day ago
- Business
- The Independent
Evri cashes in on second-hand boom with record number of deliveries
Evri delivered more parcels than ever over the past year as it cashed in on the growth of 'bedroom CEOs' selling second-hand items and newer delivery opportunities like car parts and flowers. The West Yorkshire-based group said it delivered more than 807 million parcels over the year to the end of February. This was 11% more than the 730 million the previous year, and represents a 25% increase in parcel numbers in the last two years. Revenues for the company jumped by 12% to £1.85 billion year-on-year, it revealed. Evri said sales growth was partly fuelled by the booming popularity of second-hand marketplaces like eBay and Vinted, which has shown no sign of easing. The trend for buying and selling items online has created more opportunities for the parcel firm, with social media platforms like TikTok's shop helping change shopper behaviour, it said. Martijn de Lange, Evri's chief executive, said: 'It was a year that saw us expand our client base into new sectors, including fresh food, car parts and floristry, and grow our presence in existing ones. 'We continue to meet increased demand for customer-to-customer deliveries for online marketplaces, as buyer and seller behaviour changes – fuelled by scroll and spend social commerce sites such as TikTok's shop. 'Evri's tech-enabled convenience is equipping a growing army of bedroom CEOs who are shaping the future of ecommerce.' Evri, which was previously part of the Hermes parcel group, revealed that it spent £57 million over the financial year on its operations and technology in a bid to improve service levels. It has previously highlighted an improvement in its ratings over recent years but said there was 'more to do' to improve with some customers continuing to report delivery issues. The group recently announced it was joining forces with DHL's UK ecommerce arm to form one of the country's biggest delivery firms. The deal means Evri will enter the UK business letter market for the first time, bolstering its competition to Royal Mail.
Fashion Network
a day ago
- Business
- Fashion Network
Luxury's split between winners and losers is only getting wider
One striking example of the sector's divide is LVMH versus French peer Hermes International SCA. Sales at LVMH's key Fashion & Leather Goods division are expected to have dropped 7.8% in the second quarter, according to analyst estimates. The company reports after the bell on Thursday. Hermes, which has been an example of how companies can thrive on selling the highest-end items, is expected to report revenue growth of 12% at its leather goods division. Its results are due on July 30. In the case of the Louis Vuitton and Tiffany & Co. owner, the stock has lost roughly half of its value over the past two years, losing its crown of Europe's biggest stock, with investors increasingly worried about an unprecedented demand slump in China. Hermes shares, on the other hand, are weathering the broader industry pullback. After a 160% jump since the end of 2020, the stock is little changed this year versus a 7% drop in Goldman Sachs Group Inc.'s basket of luxury shares. In the current economic context, pricing power is critical, said Helen Jewell, Europe, Middle East and Africa chief investment officer at BlackRock Fundamental Equities. 'The challenge for investors has been some of the names that we thought had greater brand strength, and it turned out they actually didn't,' she said, adding that there could be some buying opportunities after the selloff in the sector 'but you do need to be selective.' For the sector as a whole, the difference is stark between now and the 2021 to 2023 boom times, when investors were rushing to snap up any European luxury shares as they reaped the profits from shoppers on a post-pandemic spending spree. But with China's sluggish economy putting a dent into demand for pricey handbags and watches, investors are buying shares in the brands that can captivate consumers and selling the ones that can't. Among this year's winners, shares in Burberry have surged more than 30%. The UK fashion brand is gaining traction with its turnaround plan and winning new customers through its outwear push. To some investors, luxury valuations are still too high overall even after this year's plunge in a number of stocks. The industry has an average forward price-earnings ratio of 27, according to data compiled by Bloomberg. That's a near 85% premium to the broader market and above the long-term premium from the past 10 years. 'This is a sector that is fully exposed to tariffs and fully exposed to the weaker dollar,' said Roland Kaloyan, head of European equity strategy at Societe Generale SA. 'It's going to be quite difficult, so I stick to my underweight.'
