The Renzo Rosso holding, which gained a majority stake in the Milanese brand in 2013, has acquired 100% of its capital. Founders Consuelo and Gianni Castiglioni will stay at the company, which will be led by Ubaldo Minelli.
Abercrombie & Fitch Co's third-quarter same-store sales fell less than expected and its profit more than doubled as the teen apparel retailer boost gross margin by offering fewer promotions and controlling costs.
The sporting goods company failed to reach its Q3 expectations, resulting in a 16% pre-market trade stock drop. The company did, however, see an increase in sales for the quarter due to the back-to-school season.
In the first-half of its 2015/16 fiscal year, from April-September, Japanese sports outfitter Mizuno recorded a 7.8% sales rise, but also a 46.6% decline in operating income, penalised by exchange rate effects.
Luk Fook on Thursday said first-half profit likely fell as much as 40 percent due to declines in both revenue and margins, making it the second Hong Kong jewellery retailer this week to flag a drop in earnings.