HR Quarterly Round-Up: Richemont, Burberry and Coach, Inc.

(Photo: Pascal Lauener/Reuters)

 

Richemont Sales Bolster Revival Hopes (FT): Richemont, the world's second-biggest luxury goods group, yesterday reinforced signs of a recovery in demand for expensive watches, jewellery and accessories with Christmas sales well ahead of expectations.

Burberry sales rise stronger-than-forecast 15% (Market Watch): U.K. luxury goods retailer Burberry reported a 15% rise in sales for its fiscal third quarter, sailing past analyst estimates, and the company said it now expects pretax profit for the year will reach the top end of market expectations.

Coach Profit Rises 11% on Holiday Sales (WSJ): Coach Inc.'s fiscal second-quarter earnings rose 11%, with a boost from holiday sales that improved over 2008's weak holiday season. Results beat Wall Street's expectations.

HR Quarterly Round-Up: Dillard's, Saks, Burberry

(Photo: Reuters/Shannon Stapleton)

Dillard's Swings To 3Q Profit On One-Time Gain, Beats Street (WSJ): Dillard's Inc. swung to a fiscal third-quarter profit on a tax gain, but results excluding that were much better than analysts feared as the retailer continued its turnaround effort.

Saks Beats Street, Shares Up (Reuters): Upscale U.S. department store operator Saks Inc. reported a quarterly profit that beat Wall Street expectations for a loss, stoking investor hopes for a luxury market recovery and sending shares up 4.4 percent.

Burberry First-Half Profit Fell 24% But Dividend Lifted (MarketWatch): Burberry reported a 24% fall in first-half profit, with the results buffered by cost cuts and strong demand for its leather goods, but the U.K. luxury-goods group lifted its dividend 4% and expressed optimism for the future.