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Hermès Raises Sales Forecast Despite Q3 Miss

In What's New, Industry News by Jeff Prine

Paris—While Hermès International SCA reported today that its third quarter leathergoods sales dropped 0.5%—one of its worst performances in years—the luxurygoods company still raised its full year sales forecast. Total third quarter sales were up 12.9% to 896 million euros (about $1.21 billion) on a constant currency basis, driven by sales …

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Week in Review: Must-Know News

In What's New, Industry News by Accessories Staff

New York—Some Wall Street analysts referred to it as a “frat boy fight” this week when William Ackman, the hedge fund founder and largest shareholder in JCPenney, resigned from the board of directors after a very public dispute. Now JCPenney—which reports its second quarter next week—can devote energies to the …

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Uptick in Spending by Affluents Seen Ahead

In What's New, Industry News by Accessories Staff

Stevens, PA—The ultra affluents—those consumers who make up the top 20%–have picked up their spending rate, a trend that bodes well for back-to–school and holiday shopping seasons. Unity Marketing’s latest measure of affluent consumer confidence, the Luxury Consumption Index (LCI),  shows that their expectations for future spending rose in July. …