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Levi Strauss shares slide despite earnings beat
Levi Strauss shares fell sharply in after-hours trading on Wednesday (Thursday AEST) despite the denim retailer delivering better-than-expected quarterly results, raising its full-year outlook and increasing its dividend. The company reported adjusted earnings per share (EPS) of $0.28, beating market expectations of $0.24, while revenue came in at $1.56 billion compared with forecasts of $1.52 billion. Despite the strong results, shares declined 5.9% in extended trading. Levi Strauss lifted its full-year adjusted earnings forecast to a range of $1.46 to $1.52 per share, up from its previous guidance of $1.42 to $1.48. “We delivered another strong quarter driven by broad-based growth across markets, channels and categories,” said Harmit Singh, Chief Financial and Growth Officer of Levi Strauss & Co. “That growth translated into higher profitability through gross margin expansion and disciplined SG&A leverage, demonstrating the strength and scalability of our operating model." The company also raised its full-year revenue outlook, now expecting sales growth of between 7% and 7.5%, compared with its previous forecast of 5.5% to 6.5%. Around half of the expected sales growth is expected to come from higher prices,
Fashion
Ulta Beauty increases outlook after solid Q1 report
Ulta Beauty has beaten estimates for its first quarter, leading to an adjustment on guidance. Net sales for the beauty retailer in the first fiscal quarter of the year were up by 11.1% and comparable sales by 5.3%. Diluted earnings per share saw an increase to $7.74, a jump of 15.5%. Operating income was also on the up, to the tune of US$448.3 million or 11.6%. “We remain focused on expanding market share and delivering profitable growth in fiscal 2026,” said CFO Chris DelOrefice. “The first quarter positioned us well against these goals with strong execution throughout the P&L.”
Fashion
Ralph Lauren shares surge following Q4 earnings
Ralph Lauren shares surged as its Q4 earnings beat revenue expectations on the back of strong sales in China, as affluent shoppers continue to buy from the high-end apparel brand. Fourth quarter sales for the company were led by Asia, where they grew 31% on a reported basis. The company said this was driven by strong growth in China, driven by exceptional Lunar New Year sales. Ralph Lauren, the company's executive chairman and chief creative officer, said the company’s presence at world events helped boost growth. "From the passion and pursuit of greatness at the Olympics -- the world's biggest stage in sports -- to joyful traditions like Lunar New Year, we are bringing people together through timeless style that celebrates life’s meaningful moments,” he said. The American label reported quarterly revenue of US$1.98 billion, surpassing analysts’ estimates of $1.85 billion. For the fiscal year 2026, the luxury fashion brand’s revenue increased 15% to $8.1 billion. "While navigating a highly dynamic global operating environment, we exceeded our financial commitments in Fiscal 2026 with revenues surpassing $8 billion for the first time on healthy quality of sales, with balanced contributions across our lifestyle cat
Fashion
E.l.f. Beauty plans to lower prices; releases Q4 results
E.l.f. Beauty is set to walk back some of its fuelled price increases, after the retailer saw a slide in demand that ramped up in recent months as consumers contend with higher gas prices. “Whenever you take a price increase that’s that big, you’re going to see unit degradation, but I would say we’ve seen units drop off a bit more in the last few months as consumers have particularly been suffering with higher costs,” CEO Tarang Amin told CNBC in an interview. “So it’s one of the reasons why we want to reinforce the value proposition we have.” Amin said the company tested a US$4 price reduction on its $18 Halo Glow skin tint, which led to a nearly 40% lift in the business. He said this signals how sensitive consumers are to pricing right now. In response, E.l.f plans to test additional price reductions on certain products to see if that will drive unit growth, after it raised prices by $1 across its entire E.l.f assortment last August. “There’ll be additional items that we will test lower pricing on to really be able to reinforce our value proposition at a time when the consumer is suffering,” Amin said. This comes as the company announced its fourth-quarter earnings, which beat Wall Street’s expectations. Rev
Fashion
Heidi O'Neill to takeover as Lululemon's CEO
Lululemon announced that former Nike veteran Heidi O’Neill will take over as the company’s CEO. This news comes after more than a year of disappointing performance from the athleisure brand and as the company is embroiled in a dramatic proxy battle, with founder Chip Wilson criticising the business. O’Neill will begin her role as CEO on 8 September 2026. She has previously held roles at Nike, Levi Strauss, Hyatt Hotels and Spotify. “The Board conducted an extensive search to identify the right next leader to propel Lululemon forward,” executive chair of Lululemon’s board of directors Marti Morfitt said. “We selected Heidi because of the breadth of her experience, her demonstrated success delivering breakthrough ideas and initiatives at scale, and her ability to be a knowledgeable change and growth agent.” O’Neill said she plans to build on Lululemon’s existing foundation to deepen the brand’s cultural relevance, and unlock growth in markets around the world. “Lululemon is an iconic brand with something rare: genuine guest love, a product ethos rooted in innovation, and a global platform still in the early stages of its potential,” O’Neill said. “I look forward to joining the company and helping to define an

Fashion
Hermes shares tank amid disappointing earnings
Hermes shares tanked following an earnings report that disappointed investors amid the conflict in the Middle East, hitting luxury sales. The group's consolidated revenue amounted to EU€4.07 billion in Q1, increasing 6% from the same time last year. Despite the growth, this still fell short of analysts' €4.15 billion expectations. While the company’s sales were stronger than those of its peers, like Kering and LVMH, it was still heavily impacted by the war in the Middle East, which contributed to a 13.4% year-over-year sales drop. Organic sales for LVMH rose just 1% while Kering’s revenue fell by 6% year-over-year. Group stores' sales for Hermes still increased by 7% despite significantly lower sales to concession stores in the Middle East and airports. “In a tense geopolitical environment, Hermès maintains its course, true to its long-term strategy,” Hermes executive chairman Axel Dumas said. “Supported by its abundant creativity, its uncompromising quality and the loyalty of its clients, Hermès is continuing its profitable growth in 2026 with confidence and conviction. The luxury brand reported its greatest growth in the Americas (17%), with balanced growth across the U.S., Canada and South America. Ja
Fashion
LVMH misses expectations, disrupted by M.East conflict
Sales for luxury conglomerate LVMH missed expectations for the first quarter as the sector grapples with the fallout caused by the war in the Middle East. First quarter organic sales grew 1%, which is lower than the 1.5% expected by analysts surveyed by FactSheet. Total revenue was €19.1 billion. The company said the war in Iran had a negative impact of around 1% on organic growth for the quarter. “LVMH maintained its powerful innovative momentum and showed good resilience in a geopolitical and economic environment that remained disrupted, amplified by the conflict in the Middle East,” the company said in a statement. Analysts expected growth to pick up significantly for the company and sector. Many shoppers turned their back on brands following a luxury boom that ended in 2022, which saw significant price hikes and strategic decisions that alienated parts of their clientele. This comes as the luxury sector showed some signs of recovery after a years-long slump, driven by soft demand from Chinese consumers, formerly one of the sector’s main growth drivers. LVMH’s fashion and leather goods division, which includes its biggest brands like Louis Vuitton, Dior and Fendi, fell 2% to €9.2 billion in constant currenc
Fashion
Levi Strauss surges 7.3% on earnings, revenue beats
Levi Strauss beat earnings and revenue estimates last quarter as direct-to-consumer sales rose, and has lifted its full-year guidance. Earnings per share were US$0.42, up from $0.38 one year ago and passing LSEG consensus estimates of $0.37. Revenue increased 14% to $1.74 billion, above estimates of $1.65 billion. “We delivered very strong financial performance in the first quarter driven by broad-based growth across channels, regions and categories,” said Levi Strauss CEO Michelle Gass. “Our evolution into a DTC-first denim lifestyle brand is allowing us to capture a much larger addressable market and deliver faster and more consistent growth. Today we are operating from a stronger foundation, executing with focus and intention, with more ways to win than ever before.” Direct-to-consumer net revenues grew 16%, and now represent 52% of Levi Strauss’ revenue. This was due to a 10% increase in the United States, a 19% rise in Europe, and an 18% climb in Asia, the company said. Overall, Europe saw the largest revenue percentage increase of any region at 24%. Revenue in the Americas was up 9%, while Asia revenue rose 13%. Operating income was $198.7 million last quarter, up from $191.6 million. Its Europe and Asia se
Fashion
Lycra files for bankruptcy, aims to cut debt
Spandex maker Lycra has filed for Chapter 11 bankruptcy with a plan to cut US$1.2 billion (A$1.69 billion) in debt amid a slump in demand for its products and increasing competition in the sector. Lycra aims to emerge from bankruptcy within 45 days, it said. Under the plan, the company’s lenders would provide $75 million in new financing and over $1.2 billion of its debt would be deleveraged. “Despite the Company’s leading market position and diversified brand portfolio, the Company has faced increasing financial pressure due to industry headwinds and the Company’s highly leveraged balance sheet,” Lycra wrote in court filings. “Today marks a significant milestone for The LYCRA Company as we are taking decisive action to meaningfully reduce our debt and strengthen our financial foundation,” said CEO Gary Smith. The restructuring will not impact Lycra’s customers, suppliers, employees, or manufacturing operations, per the company. Its Chapter 11 petition was filed in the U.S. Bankruptcy Court for the Southern District of Texas. Lycra currently has $1.53 billion in existing debt, it said in court filings. This includes $780 million in dollar bonds, $520 million in euro bonds, and $214 million in super senior term loans