Hermes sales grew across its regions in the first three months of the year, helped by its wealthier client base during a quarter that was expected to be challenging for the luxury sector as a whole.
There's no real-estate crash on Rodeo Drive in Beverly Hills or on London's Bond Street. The value of property on famous luxury shopping streets seems immune to higher debt costs. Scarce supply is propping up prices and vacancy rates are low, as designer labels vie for spots in the best locations.
Don’t expect any fashion bargains on Rodeo Drive in Beverly Hills, or New York’s Fifth Avenue. While the average commercial building is worth 20% less than in 2022, the world’s most exclusive shops have barely been touched by the highest U.S. and European interest rates in two decades. Cartier’s Swiss owner, Compagnie Financière Richemont recently bought a property on London’s Bond Street at a rock-bottom 2.2% rent yield.
Trump Media reported a sizeable first-quarter loss with revenue below $1 million once again. Donald Trump stock DJT edged higher late.
(Bloomberg) -- Palo Alto Networks Inc. slid in late trading after giving a downbeat forecast for the current period, renewing concerns about a slowdown in cybersecurity services. Most Read from BloombergIran State TV Says ‘No Sign of Life’ at Helicopter Crash SiteSpeedier Wall Street Trades Are Putting Global Finance On EdgeHims Debuts $199 Weight-Loss Shots at 85% Discount to WegovyJamie Dimon Says Succession at JPMorgan Is ‘Well on the Way’One of the Last Big Bears on Wall Street Turns Bullish
In his 2016 letter to Berkshire Hathaway shareholders, legendary investor Warren Buffett wrote, “Every decade or so, dark clouds will fill the economic skies, and they will briefly rain gold. When downpours of that sort occur, it’s imperative that we ...
It appears GameStop meme investors got suckered — again. Investors who jumped into the latest online frenzy over shares of the struggling video game retailer lost $13.1 billion in just three days from the mania's high, says an Investor's Business Daily analysis of data from S&P Global Market Intelligence and MarketSurge. It's been a costly lesson for investors, some of which may have lost billions the last time on GameStop and other highly shorted stocks touted on social media.
The Under Armour meltdown continues.
Despite a strong start to the year for stock markets, investors in Starbucks (NASDAQ:SBUX) have been left bitterly disappointed with its shares down by approximately 20% at the time of this writing. After the earnings miss, Laxman Narasimhan, the new CEO of Starbucks, appeared on Jim Cramer's Mad Money to try and explain both the results and the company's path forward. Don't Miss: Startup behind ‘the #1 free contractor app' grows 162% YoY, opens its doors for investors at a $100 minimum. Invest
(Bloomberg) -- Seafood restaurant chain Red Lobster filed for bankruptcy, succumbing to onerous leases, high labor costs and a disastrous unlimited shrimp promotion. Most Read from BloombergIran State TV Says ‘No Sign of Life’ at Helicopter Crash SiteSpeedier Wall Street Trades Are Putting Global Finance On EdgeHims Debuts $199 Weight-Loss Shots at 85% Discount to WegovyJamie Dimon Says Succession at JPMorgan Is ‘Well on the Way’One of the Last Big Bears on Wall Street Turns Bullish on US Stocks
Consumer prices climbed 3.4% year-on-year in April.