Economic Indicators - The number of Americans filing for initial jobless claims fell by 23,000 to 206,000, compared to the expected 223,000 [1] - The U.S. Philly Fed manufacturing index rose to a 5-month high of 16.3 in February, exceeding expectations of 7.5 [1] - The U.S. December trade deficit widened to $70.3 billion, worse than the expected $55.5 billion [1] - U.S. pending home sales unexpectedly fell by 0.8% month-over-month in January, contrary to expectations of a 1.4% increase [1] Stock Market Performance - Wall Street's major indexes ended in the red, with EPAM Systems dropping over 17% after issuing soft FY26 revenue growth guidance [2] - Chip stocks, including Microchip Technology and Texas Instruments, slid more than 2% [2] - Booking Holdings slumped over 6% after posting weaker-than-expected Q4 EPS [2] - Omnicom Group jumped over 15% after reporting better-than-expected Q4 revenue [2] Federal Reserve Insights - Minneapolis Fed President Neel Kashkari indicated that interest rates are likely near "neutral" [5] - San Francisco Fed President Mary Daly stated that monetary policy is "in a good place" [5] - U.S. rate futures show a 94% probability of no rate change and a 6% chance of a 25 basis point rate cut at the next central bank meeting in March [5] European Market Developments - The Euro Stoxx 50 Index rose by 0.47% due to stronger-than-expected PMI data from the region [8] - Luxury stocks outperformed, with Moncler Spa jumping over 12% after reporting better-than-expected Q4 revenue [8] - Eurozone business activity grew faster than expected in February, driven by a rebound in manufacturing [8] Corporate Earnings and Forecasts - Siegfried Holding AG slumped over 8% after posting weaker-than-expected annual revenue [9] - Opendoor Technologies jumped over 18% in pre-market trading after better-than-expected Q4 revenue [14] - Akamai Technologies plunged over 10% after issuing below-consensus Q1 and FY26 adjusted EPS guidance [15]

Core Viewpoint - Tapestry, Inc. (NYSE:TPR) is recognized as a strong investment opportunity in the luxury sector, with multiple analysts raising their price targets and maintaining positive ratings following the company's strong fiscal Q2 2026 results. Group 1: Analyst Ratings and Price Targets - BNP Paribas initiated coverage of Tapestry, Inc. with an Outperform rating and a price target of $176 on February 13 [1] - TD Cowen raised its price target from $150 to $175 while maintaining a Buy rating on February 10 [1] - UBS increased its price target from $125 to $141, keeping a Neutral rating on February 9 [2] Group 2: Financial Performance - Tapestry reported fiscal Q2 2026 revenue of $2.5 billion, reflecting a 14% increase year-over-year [2] - The company achieved pro forma revenue growth of 18%, driven by a 25% increase in the Coach brand [2] Group 3: Operational Metrics and Shareholder Returns - Tapestry expanded its operating margin by 620 basis points on a GAAP basis and 390 basis points on a non-GAAP basis, aided by gross margin improvement and SG&A leverage [3] - The company plans to return $1.5 billion to shareholders through dividends and share repurchases in Fiscal 2026, which is approximately 100% of its anticipated adjusted free cash flow, up from a previous outlook of $1.3 billion [3]

What draws you to our category. No one needs our category. You can carry your stuff in a paper bag. You can carry your stuff in a $50,000 bag.>> Um, of course there's material differences, but ultimately it's an emotional purchase. >> We want to make sure our bags talk to the person, connect emotionally with them, >> and that's what we do. I think when we do it well, we we're doing it our best on a very personal level.I find it offensive that somebody has to save four months of salary to buy a handbag. Okay ...

Group 1 - Valentino has appointed Liran Peterzil as the new chief marketing officer, effective March 2, reporting to CEO Riccardo Bellini [1] - Peterzil will be responsible for developing Valentino's global brand strategy and overseeing marketing, communications, events, media relations, and overall brand experience worldwide [2] - Peterzil brings over 20 years of international experience in brand development and communications from luxury, hospitality, and entertainment sectors, having held senior positions at notable companies [3] Group 2 - CEO Riccardo Bellini has been building his team since taking leadership on September 1, starting with the appointment of Laurent Bergamo as deputy CEO [4] - Davide Tosi has been named chief merchandising officer of Valentino, previously serving as global chief merchandising officer of ready-to-wear at Gucci [5]

Core Viewpoint - Luxury companies like LVMH and Kering are facing significant volatility in their stock prices due to hedge fund positioning and concerns over AI-related market fluctuations, as they attempt to recover from a two-year slowdown in sales [2][3][8]. Group 1: Company Performance - LVMH, the largest luxury group with a market cap of €260 billion ($308.49 billion), experienced its largest one-day stock drop since 2020 after CEO Bernard Arnault expressed caution about future growth, which contrasted with a previous 12% increase following an optimistic market update in October [4][10]. - Kering's shares rose by 11% after reporting fourth-quarter revenue that fell slightly less than expected, with new CEO Luca de Meo indicating "early, fragile" signs of recovery [6][11]. - Hermes, known for its Birkin bags, saw a modest 2.5% increase in shares despite a solid quarter, trading at 45 times forward earnings, more than double that of LVMH [11]. Group 2: Market Dynamics - The luxury sector is experiencing heightened volatility due to a high number of short positions taken by hedge funds, which can lead to significant price swings when unexpected results are announced [5][8]. - The luxury market's dependence on affluent consumer spending makes it particularly sensitive to fluctuations in the U.S. stock market, which is currently experiencing volatility driven by AI trends [8][9]. - Hedge funds are increasingly influencing market movements, with many trading based on news and data points, which can exacerbate price volatility in luxury stocks [7][10]. Group 3: Investor Sentiment - Investors are actively switching their bets among luxury brands, looking for potential turnaround stories as the sector navigates a slow recovery [11]. - Kering's CEO has highlighted the stock market as a key indicator of luxury spending in the U.S., warning that a correction in the AI market could negatively impact European luxury groups [9]. - The current market environment is characterized by nervousness among investors, with many seeking to sell amid high valuations and concentrated market conditions [10].

Chinese manufacturers are increasing pressure on Western luxury brands, as consumers grow more skeptical about the value of traditional high-end products.@lapresmidi, business journalist and host of the Fashion People podcast, joins @chafkin and @svaneksmith on the Everybody's Business podcast to talk about why companies like outerwear giant Bosideng are winning over global consumers https://t.co/qSwm0RcP17 ...

China's biggest holiday, the Lunar New Year, is here, and big holidays mean a lot of spending. In 2023, the latest data available, Chinese consumers spent more than $140 billion on travel, retail gifts and more. And luxury brands desperate for growth this year want a piece of that pie.Every year in the Chinese calendar is represented by one of 12 zodiac animals. 2026 is the year of the horse. The 15-day celebration will act as a test of Chinese consumers' willingness to spend.After years of economic slowdow ...

The Lunar New Year is a big spending holiday in China, and luxury brands are using the festival to connect with customers through capsule collections, marketing campaigns and immersive experiences in hopes of boosting sales. Chinese luxury consumers have become more reserved and discerning with their money. Wealth Reporter Hayley Cuccinello explains. ...

Core Points - Hermès International publishes the total number of voting rights and shares comprising its share capital monthly, in accordance with French regulations [2] Group 1: Share Capital and Voting Rights - As of January 31, 2026, Hermès has 569,412 shares and a total of 259,062 theoretical voting rights, with 526,302 effective voting rights [3] - The number of effective voting rights has shown fluctuations over the months, with a peak of 810,005 effective voting rights recorded on September 30, 2025 [3] - The total number of theoretical voting rights has remained consistent at 259,062 since December 2025 [3][4] Group 2: Historical Data - The effective voting rights decreased from 612,915 in July 2023 to 526,892 in November 2023, indicating a downward trend [3] - The effective voting rights were at 473,191 in December 2022, showing a significant increase to 526,892 by November 2023 [4] - The data shows a consistent number of shares at 569,412 across the reported months, indicating stability in share capital [3][4]

Chinese manufacturers are increasing pressure on Western luxury brands, as consumers grow more skeptical about the value of traditional high-end products.@lapresmidi, business journalist and host of the Fashion People podcast, joins @chafkin and @svaneksmith on the Everybody's Business podcast to talk about why companies like outerwear giant Bosideng are winning over global consumers https://t.co/qSwm0RcP17 ...