Luxury Market Downturn Third Quarter Earnings Summary

Tiffany's third quarter earnings are not up to expectations.

This week, American luxury goods.

Retailer Tiffany (Tiffany) announced its third quarter earnings, and its third quarter earnings per share were $0.70, lower than FactSet's expected earnings of $0.75 a share.

The group's sales volume was $938 million, lower than the $971 million expected.

Its net profit in the third quarter was US $91 million, and net profit last year was US $38 million.

By region, Tiffany's steady sales growth in China and Australia increased by 17% in Japan and 2% in Europe. Sales in Hongkong and Macao also fell.

For failing to meet expectations, Tiffany announced its cuts in its future expectations.

Greater China has made Prada suffer.

Recently, Italy

Group Prada announced the first three quarters of fiscal year 2015 financial data, as of October 31st, Prada recorded net profit of 46 million 484 thousand euros, compared with 74 million 473 thousand euros last year fell 37.6%.

Revenue decreased from 792 million 300 thousand euros last year to 747 million 700 thousand euros, a decrease of 5.6% and a fixed exchange rate reduction of 10%.

It is understood that in addition to the growth of 3.6% and 7.6% in Italy and Japan, other major markets have continued to decline. Among them, the Hong Kong and Macao market has been exacerbated by the strong contraction of human traffic and retail sales as well as the depreciation of the RMB during the 8 and September periods. Retail sales have dropped sharply by 26%, dragging down the overall sales in the Asia Pacific region by an annual decrease of 17%.

Sales in Europe and America both recorded a 2.4% decline.

CEO Patrizio Bertelli of Prada said: "in the past few months, the economic environment has worsened.

In some countries, consumers' desire to buy and the consumption of tourists have declined.

Taking into account this situation and the changes that are currently going on in the luxury industry, we have decided to further strengthen our links with our customer groups and further reduce costs by evaluating our entire business process. "

Hermes's third quarter sales surged 15.4%

By the end of September 30th, the Herm harvest s group's third quarter sales rose 15.4%, with a total revenue of 1 billion 140 million euros, excluding the exchange rate effect, and the revenue grew 7.9% in the same quarter.

It is reported that this growth is mainly due to strong sales of garments and accessories.

Platinum and Hermes scarves are still popular among consumers, with sales in Japan rising by 19%, and in Europe by 10%, while in the United States by 7%, and in Asia (excluding Japan) by 5%.

Sales of harness and leather products increased by 12%, sales of garments and accessories increased by 9%, perfume sales increased by 6%, and sales of scarves and textiles increased by 3%.

Watch sales declined by 2% in the Greater China region.

Kate Spade turned losses into profits in the third quarter

In the first three months of October 3rd, Kate Spade third sales increased 10.7% to 277 million 300 thousand US dollars over the same period.

In the three quarter, with the strong demand of the North American market pushing forward, the sales volume in North America increased by 18.5% to 228 million 500 thousand US dollars annually, the rate of growth increased further than 13% in the two quarter, while international sales fell 15.8%, from 50 million 906 thousand US dollars in the same period last year to 42 million 870 thousand US dollars.

Affected by the exchange rate and the Chinese market, Hugo Hugo's net profit fell by 23% to 85 million 500 thousand euros (US $98 million 400 thousand) in the third quarter of September 30th, and the profit before depreciation and amortization (EBITD) fell 13% to 132 million 600 thousand euros ($147 million 500 thousand) in the September 30th.

Areas with severe falls include the Americas and the Chinese market. Sales in the Americas fell by 7%, and sales in the US region plummeted by 10%.

Sales in the Asia Pacific region dropped by 12%, and the decline in China also reached double digits. The group thought that the situation of the fashion retailing industry is deteriorating rapidly, and the weak tourism demand has further exacerbated the decline in performance.

Kering group's third quarter revenue rose 12%

According to the third quarter earnings report released by the French luxury giant Kai Yun group, thanks to the large number of tourists shoppers in Western Europe and Japan, the total revenue of the group rose by 12%.

But sales in China are still weak and spread to most of its brands, and sales in Hongkong and Macao have deteriorated.

In the three months ending September 30th, the group's total revenue was 2 billion 890 million euros (about 3 billion 230 million US dollars).

In addition, the total revenue of Bottega Veneta rose 4.3% to 324 million euros (about 360 million 400 thousand US dollars), total revenue of Saint Laurent rose 26.6% to 243 million 400 thousand euros (about 270 million 800 thousand US dollars), and Gucci (Gucci) brand income fell 0.4%.