Earnings Brief
Double-Digit Growth In China Spurs Estée Lauder’s Recovery
Cosmetics giant Estée Lauder reported a 4-percent net sales drop during its fiscal year ending June 30, 2020, despite double-digit growth in China. Read More
COVID-19 Helps Alibaba Beat Q1 Expectations
Tmall Global’s gross merchandise value grew by over 40 percent, and Taobao Live’s jumped over 100 percent year-on-year during a strong Q1 for Alibaba. Read More
JD.com’s Revenue Jumps ‘Beyond Expectations’ for Q2
Thanks to China’s recovery from the pandemic and its 618 promotion, JD.com’s revenue for Q2 more than doubled from a year ago. Read More
Tencent Scores A Big Q2 Before Trump’s WeChat Ban Plan
Tencent Holdings, the parent company of WeChat, reported a strong second quarter of 2020, while a potential WeChat ban in the US looms. Read More
Kors, Versace Parent Company Survived Q1 Thanks To China
On August 5, Capri Holdings, which is the parent company of Michael Kors, Versace, and Jimmy Choo, revealed its first-quarter fiscal 2021 results. Read More
After a Tough Q1, Ralph Lauren Expects A Full Recovery in Q2 For China
Ralph Lauren Corporation reported a 66 percent revenue decrease in Q1 but said mainland China sales might return to pre-COVID levels next quarter. Read More
L’Oréal Holds Tight As China Keeps Up Growth
L’Oréal is expected to outperform the beauty market and return to growth thanks to China’s sharp recovery and e-commerce growth in the first half of 2020. Read More
Hermès First-Half Results Are Grim, Except For Online Sales In China
The maker of the iconic Birkin bag, Hermès, is feeling the brunt of the pandemic, as its sales plunged by 42 percent over the second quarter. Read More
Prada Stays Confident Despite A Rough First Half
Though net revenues fell by 40 percent during the first half of 2020, Prada had recorded high double-digit sales growth in China since April. Read More
Kering Reports Strong Recovery in China Amid Prolonged Slump
Kering reported a 43.3 percent decrease of its consolidated revenue in the second quarter of 2020, yet China’s market fueled the group’s recovery. Read More
