Kraneshares Global Luxury Index ETF(KLXY.US)

Last Updated 19:00:00 ET
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Kraneshares Global Luxury Index ETF
KLXY.US
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GRAPHIC-Barry Callebaut's returns under Feld among the worst of departing consumer CEOs

Barry Callebaut has appointed Hein Schumacher as CEO, replacing Peter Feld, amid a trend of leadership changes in consumer companies. An analysis shows Callebaut's performance under Feld was poor, with negative returns of 11% since April 2023. In contrast, Walmart's Doug McMillon achieved a 16% annualized return since 2014, while Hershey's Michele Buck delivered 9.7% since 2017. Puma, under Arne Freundt, saw a significant decline of 36.6%. Kering led long-term returns with 520% over 20 years, followed closely by Walmart at 501.4%.

Reuters·
US
XRT
+1.46%
US
RTH
+0.57%
US
KLXY
0.00%
Reuters·
US
XRT
+1.46%
US
RTH
+0.57%
US
KLXY
0.00%

Macy’s Issued A Very Grim Warning About Consumer Behavior

Macy's has issued a warning about consumer behavior, revealing struggles in the current economic climate. The retailer is closing several fulfillment centers in Connecticut and Oklahoma, resulting in thousands of job losses, alongside numerous store closures nationwide. The company aims to focus on affluent consumers, as spending is primarily concentrated among the wealthy.

Talkmarkets·
US
RTH
+0.57%
US
LUX
0.00%
US
ONLN
+0.65%
Talkmarkets·
US
RTH
+0.57%
US
LUX
0.00%
US
ONLN
+0.65%

LIVE MARKETS-RBC cools on luxury: 'Revenue growth is vanity'

RBC has expressed caution regarding the luxury sector, stating that while luxury stocks have seen a rally, revenue growth alone is insufficient for sustained momentum. The bank highlights that earnings upgrades are necessary but scarce, with only Burberry and Nike expected to see positive revisions. Other luxury brands like Adidas and Richemont may face downgrades. RBC concludes that "revenue growth is vanity; earnings upgrades are sanity."

Reuters·
US
NKE
+2.03%
US
LUX
0.00%
US
CFRUY
+0.36%
Reuters·
US
NKE
+2.03%
US
LUX
0.00%
US
CFRUY
+0.36%

Want to keep your job? Buy yourself a blazer

The trend towards relaxed clothing may be reversing, as evidenced by recent data from fashion shows, social media, and retail sales. Analysts at Bank of America suggest that consumers are gravitating back towards more sophisticated attire, with dressier styles overtaking athletic wear in everyday settings. Major companies like Nike, Adidas, and Lululemon must adjust to this shift in consumer preferences.

Businesstimes News·
US
ADDYY
+0.77%
US
XLY
+0.88%
US
XRT
+1.46%
Businesstimes News·
US
ADDYY
+0.77%
US
XLY
+0.88%
US
XRT
+1.46%

Burberry books revenue rise as Gen Z interest warms

The group reported double-digit growth among Gen Z in Greater China and Asia-Pacific, adding its reach with younger consumers across all regions was strengthening.

MSN·
US
XRT
+1.46%
US
KLXY
0.00%
US
BURBY
+6.86%
MSN·
US
XRT
+1.46%
US
KLXY
0.00%
US
BURBY
+6.86%
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