Apparel, Accessories & Luxury Goods

On October 8, Zhongwang Fabric announced that as a limited partner it will use its own funds to subscribe 50 million yuan to Tianjin Lisi Xingdeep Equity Investment Partnership, subscribing to part of the partnership's newly added stake, accounting for 0.8306% of the partnership's total subscribed capital after this new addition. The partnership's operating term runs from the first closing date to the seventh anniversary of the first closing date, with the specific investment scope being high-growth high-tech enterprises. In the first half of 2026, Zhongwang Fabric achieved revenue of 259 million yuan and net profit attributable to the parent of 29.13 million yuan.

Moët Hennessy, Analog Devices and the University of California, Davis announced a joint effort to deploy AI-powered chemical signature detection technology aimed at enhancing wine quality and supporting the long-term vitality of vineyards. The collaboration builds on technology with roots in early research at the Massachusetts Institute of Technology, which Analog Devices continues to advance for analyzing chemical signatures across a broad range of applications. In a world first, researchers at Moët Hennessy's Robert-Jean de Vogüé Research Center used a unique library of samples and data to train machine learning algorithms that successfully identified samples at elevated risk of developing Fresh Mushroom Aroma well before the defect would traditionally be detected. The system, powered by Analog Devices' sensing and machine learning platform, continuously learns from complex chemical data rather than looking only for predefined conditions. Beyond Fresh Mushroom Aroma, the organizations are researching early detection of vine diseases, soil assessment, and other defects linked to climate change and related events such as wildfires, with Analog Devices intending to make the technology broadly available for future industrial applications.

Carter's reported second-quarter revenues of $615.5 million, up 5.2% year on year and 1.6% above analysts' expectations, though next-quarter revenue guidance missed consensus. The children's apparel maker's results were part of a mixed quarter for the 15 consumer discretionary apparel and accessories stocks tracked, which as a group beat revenue consensus by 1.2% while next-quarter revenue guidance came in 4.7% below expectations. Chief Executive Officer and President Sharon Price John said net sales rose 5% and adjusted operating profit rose 54%, exceeding the prior outlook, crediting improved marketing, early benefits of productivity initiatives, and progress in the Baby segment. Among peers, Figs posted the group's fastest growth at 28.8% year on year with revenue of $196.6 million, while Stitch Fix delivered the weakest guidance update and ThredUp's stock has fallen 65.8% since reporting. Carter's shares are down 15.4% since its results and trade at $31.98.

PVH reported second-quarter revenues of $2.10 billion, down 3.2% year on year, in a quarter that came in line with analysts' expectations on the top line but saw EPS guidance for the next quarter miss expectations. The company, whose brands include Calvin Klein and Tommy Hilfiger, beat analysts' EPS estimates for the quarter, and Chief Executive Officer Stefan Larsson said profitability exceeded expectations on disciplined execution of the PVH+ Plan, with direct-to-consumer growth in the Americas and APAC and improved performance in EMEA versus the prior quarter. PVH stock is up 6.5% since reporting and trades at $77.00. Across the 15 consumer discretionary apparel and accessories stocks tracked, group revenues beat consensus by 1.2% while next-quarter revenue guidance came in 4.7% below, and the shares are down 15.4% on average since the latest results. Among peers, Figs reported revenues of $196.6 million, up 28.8% year on year and 5.6% above expectations, while Stitch Fix posted revenues of $324.4 million, up 4.2% and in line, but delivered the group's weakest guidance update.

Ralph Lauren Corporation's women's apparel, outerwear and handbags categories grew more than 20% in the first quarter of fiscal 2027, well ahead of the company's 13% overall revenue growth. Management said the company is still at the beginning of its journey in these categories, with market shares achieved so far representing only the start of the opportunity. In China, sales rose more than 40% in the first quarter of fiscal 2027, though management expects growth of around mid-teens for the full fiscal year amid tougher second-half comparisons. The company carries a Zacks Rank #3 (Hold), and its shares have gained 1.3% in the past six months against the industry's 3.6% decline. RL trades at a forward price-to-earnings ratio of 18.34 versus the industry average of 14.62, and the Zacks Consensus Estimate implies earnings growth of 13.3% for the current fiscal year and 10.6% for the next.

Vince Holding Corp. has acquired the operating business of October's Very Own, or OVO, adding a streetwear growth platform beyond its core Vince brand. OVO generated nearly $50 million in net sales in calendar 2025 and operates 12 stores across Canada, the United States and the United Kingdom, plus an e-commerce business. Vince Holding plans to expand OVO's store base from 12 locations to about 20 by fiscal 2030, with the United States as a key focus, and to launch a U.S. wholesale business alongside e-commerce improvements. The company targets increasing OVO revenues to more than $100 million by fiscal 2030 with adjusted EBITDA margins in the low-double-digit range. OVO is expected to be earnings neutral, excluding transaction costs, in fiscal 2026 before becoming accretive in fiscal 2027.

Sabina Public Company Limited, or SABINA, expects its second-half performance, particularly in the fourth quarter of 2026, to grow better than in the first half, as that period marks the high season for sales. Chief Executive Officer Duangdao Mahanavanont said the company has shifted its strategy from one driven by sales volume to lean inventory management, cutting buffer production across all product groups and instead producing in line with the demand of each target segment, placing greater weight on net profit growth and net profit margin than on accelerating total sales. It is also expanding into non-underwear categories such as men's products under the Sabina Men and Norma brands, as well as sleepwear and activewear. The company has no plans to expand its own factories, opting instead to use quality contract manufacturing partners, or OEMs, in Asian regions such as China to manage costs and increase flexibility in adjusting production capacity. It views the impact of oil prices on petrochemical fiber costs as very low, at less than 1%, because production and raw material bookings are made about six months in advance. Meanwhile, its OEM business for overseas partners is likely to keep growing; where its main customer base was previously in the United Kingdom, it is now seeing more inquiries from customers in other European countries, especially the Nordic nations, as they look for new production bases to reduce the risk of relying on China.

PVH Corp. reported second-quarter fiscal 2026 adjusted earnings of $3.70 per share, up 46.8% from $2.52 a year earlier and above the Zacks Consensus Estimate of $3.08, a result that included an approximately $1.80-per-share benefit from tariff refunds. Revenues fell 3.2% year over year to $2.097 billion and were in line with the consensus mark, while gross margin increased 530 basis points to 63% from 57.7%, including about 510 basis points from $107 million of tariff refunds. By region, Europe, the Middle East and Africa revenues declined 6% to $986.3 million, Americas revenues slipped 1% to $680.1 million, Asia-Pacific revenues rose 3% to $343.7 million, and licensing revenues fell 13% to $86.9 million. For fiscal 2026, PVH continues to expect revenues to be approximately flat on a reported basis and down slightly at constant currency, with adjusted operating margin of approximately 8.8% and adjusted earnings of $11.80-$12.10 per share, including an estimated 40-cent favorable foreign-currency impact. For the fiscal third quarter, the company projects revenues to decline in the low single digits, an adjusted operating margin of about 7.5%, and adjusted earnings of $2.50-$2.65 per share, down from $2.83 a year earlier.

Pandora, the Danish jewellery giant, has opened a new manufacturing plant in Ho Chi Minh City, Vietnam, worth 150 million dollars, or about 4.8 billion baht. It is the company's first production base outside Thailand, which has long been its main manufacturing hub. The plant is expected to increase the company's overall production capacity by about 50%. It can produce up to 60 million pieces of jewellery a year and will employ around 7,000 people once fully operational. Berta de Pablos-Barbier, president and chief executive of Pandora, told CNBC that Asia remains a region with very strong potential, after sales in the region grew 10% in the second quarter. Its business in Japan has nearly doubled in size in just three years and is still growing at a high double-digit rate. The Chinese market, where sales had fallen for three consecutive years, is starting to show signs of recovery, and the company expects to return to growth there this year. Pandora is also pressing ahead with expanding its lab-grown diamond business, after finding that consumers are interested in alternative diamonds that are more affordable than mined diamonds. Lab-grown diamond production can cut carbon emissions by about 90% compared with mined diamonds, and the new factory in Vietnam also uses renewable energy, as well as recycled silver and gold, in line with the company's sustainability approach.

Analysts expect third-quarter earnings at major European companies to rise 19.4% from a year earlier, according to data published on the first of the month by LSEG's IBES. While the energy sector is the main driver, the pace of profit growth is expected to slow from the second quarter. Excluding the energy sector, companies in the STOXX Europe 600 index are seen posting profit growth of 9.9%, with consumer cyclical goods makers showing the strongest growth, followed by the technology sector. Analysts raised their profit-growth forecast for the technology sector to 23.8% from 13.1% as of July. The energy sector is expected to post profit growth of 98.6%, but that would be a slowdown from 138.6% in the second quarter, with high fuel prices supporting the strong profit growth; North Sea Brent prices rose about 14% in September, and diesel refining margins hit a record high. The real estate sector, meanwhile, is expected to see the sharpest decline, with profit down 71.4% from a year earlier. Revenue for STOXX Europe 600 constituents is seen rising 10.6%, or 4.3% excluding the energy sector, with four sectors expected to post lower revenue. Sweden's H&M, the fashion retail giant and the first index constituent to report results, beat profit expectations thanks to a temporary U.S. tariff refund, but its revenue growth was lackluster. Analysts expect fourth-quarter profit growth of 35.1% for index constituents, though the index fell 1.3% on the first day of the quarter amid rising bond yields.

G-III Apparel Group raised its fiscal 2027 adjusted earnings per share guidance to $2.20-$2.30, citing Donna Karan as one of its most powerful growth opportunities. Donna Karan sales increased more than 45% year over year in the second quarter of fiscal 2027, with digital performance supported by growth in traffic, conversion and average unit retail, and the dress business a standout. Handbags delivered double-digit growth during the quarter, and footwear distribution is expanding this fall through additional doors at Nordstrom, Macy's and Dillard's. Kendall Jenner is the face of Donna Karan's Fall 2026 global campaign, and the brand will participate in Macy's celebration of American fashion with a limited-edition capsule. G-III continues to expect its go-forward portfolio to grow at a high-single-digit rate, excluding Marc Jacobs from the outlook.

The board of directors of Thanulux Public Company Limited, or TNL, has resolved to propose to the extraordinary general meeting of shareholders No. 1/2569 the approval of the disposal of two assets to Saha Pathana Inter-Holding Public Company Limited, or SPI, which is a connected person as it is a major shareholder of TNL. The first item is the disposal of investment property comprising 16 plots of land and buildings, divided into three groups, located on Nonsi Road, Yannawa District, Bangkok, with a total area of 8,085 square wah and a total sale value of 814 million baht. Group 1, valued at 403.43 million baht, will have ownership transferred within 2569, while Group 2, valued at 224.82 million baht, and Group 3, valued at 185.76 million baht, will be transferred within 2571, and the buyer has the right to extend the period to 2572. The second item is the disposal of an investment in ordinary shares of President Bakery Public Company Limited, or PB, totalling 3.50 million shares, representing 0.78% of registered and paid-up capital, at 47 baht per share, for a total value of 164.50 million baht, to SPI through the Stock Exchange of Thailand's Big Lot system, expected to be completed by 31 December 2569. The two items have a combined value of 978.50 million baht, representing 8.95% of the company's net asset value, and constitute a connected transaction requiring shareholder approval by a vote of not less than three-quarters of the shareholders attending the meeting and entitled to vote, excluding shareholders with an interest. The company has scheduled the extraordinary general meeting of shareholders No. 1/2569 for 9 November 2569 at 1:00 p.m. via electronic media, set a record date of 12 October 2569, and appointed Silom Advisory Company Limited as an independent financial adviser. The proceeds received will be used to enhance liquidity, as working capital, as reserves to support future business expansion, and to reduce investment in businesses unrelated to the core business.

Jinfa Labi announced that its investee company Hanfei Investment plans to use its 49% stakes in Zhuhai Hanfei and Zhongshan Hanfei, valued at a total of 46.347 million yuan, to offset its debt to the company. The debt includes 25 million yuan in loan principal and interest paid on behalf of Hanfei Investment as a guarantor, as well as principal and interest from a debt assigned by the controlling shareholder. After the transaction, Zhuhai Hanfei and Zhongshan Hanfei will become wholly owned subsidiaries of the company. This transaction does not constitute a major asset restructuring or a related-party transaction.

Jinfa Labi announced that Lin Ruowen, one of its controlling shareholders and actual controllers, has gifted to the company a 20.75 million yuan debt claim she holds against Guangdong Hanfei Hospital Investment Co., Ltd., a transaction that constitutes a related-party transaction. The announcement said Lin Ruowen gifted the debt claim to the company out of goodwill, and that the related-party transaction was carried out on a voluntary, equal, fair, just, and mutually beneficial basis, does not harm the interests of the company or its shareholders, especially minority shareholders, and will not have an adverse impact on the company. In the first half of 2026, Jinfa Labi achieved revenue of 178 million yuan and net profit attributable to the parent of 850,000 yuan.

Jinfa Labi announced on September 28 that its associate company Guangdong Hanfei Hospital Investment Co., Ltd. has used its 49% equity stakes in Zhuhai Hanfei Medical Aesthetics Clinic Co., Ltd. and Zhongshan Hanfei Medical Aesthetics Clinic Co., Ltd. as consideration to offset a total debt of 46.35 million yuan owed to Jinfa Labi. The debt includes the principal and interest of a 25 million yuan loan covered by guarantee compensation, as well as the principal and interest of a 20.75 million yuan claim gifted to the company by its controlling shareholder. The company's board of directors has reviewed and approved the relevant proposal, and this transaction constitutes a related-party transaction. The announcement stated that after the transaction is completed, Zhuhai Hanfei and Zhongshan Hanfei will become wholly-owned subsidiaries of the company. This transaction implements the Equity Pledge Agreement signed and registered for pledge by both parties in October 2025. The transaction targets are minority equity interests in the company's subsidiaries and will not affect the scope of consolidated financial statements. In the first half of 2026, Jinfa Labi achieved revenue of 178 million yuan and net profit attributable to the parent company of 850,000 yuan.

A wave of deal activity spanned multiple sectors this week, led by Qualcomm's acquisition of robotics software firm PickNik to boost its presence in physical AI and robotics. Smurfit Westrock agreed to acquire Empresas CMPC's Chilean containerboard and corrugated business for $420M, including a paper machine in Santiago that produces roughly 250K tons per year. Madison Dearborn Partners agreed to acquire holding firm The Marygold Companies in an all-cash transaction valuing it at $2.00 per share, a 100% premium over its September 24, 2026 closing price. Brookfield is in exclusive talks to buy fraud detection business Actimize from Nice for $2 billion, while Goldman Sachs emerged as the lead bidder for Palmer Square Capital Management, a credit manager overseeing more than $37 billion. Elsewhere, Capri Holdings soared 10% on a report it has connected with potential acquirers, Evonik rose 7.2% in German trading after a report that BASF approached it about a takeover, RPM International agreed to acquire Italy-based Volteco S.p.A. for its Tremco Construction Products Group, and Superstar Platforms agreed to acquire fintech company TitlePal in an all-stock transaction.

The Arnault family group outlined a restructuring of the entities controlling LVMH, including a planned cash tender offer for minority-held Christian Dior shares. The news arrived after a mixed stretch for Christian Dior, whose shares closed at €416 and whose 3 year total shareholder return is down 35.8%, though the 7 day share price return of 12.7% suggests short term momentum has picked up. The stock trades at a P/E of 16.5x, below the peer average of 30.1x and the wider European luxury industry at 17.9x, while earnings have declined 1.6% per year over the past 5 years, return on equity stands at 16.8% against a 20% threshold, and the net profit margin is 5.7% versus last year's 5.5%. A discounted cash flow model puts future cash flows at €984.79 against the €416 share price, screening the stock as undervalued on that measure as well. The tender offer story could cool quickly if the discount to any fair value estimate narrows without clearer progress on earnings trends or the Arnault restructuring.

Kontoor Brands, Inc. announced that Jamie Caulfield and Michael Skipworth have been elected to its board of directors effective immediately, and that the size of the board has been increased from seven to nine directors. Caulfield, 67, most recently served as Executive Vice President and Chief Financial Officer of PepsiCo, Inc., a global beverage and convenient foods portfolio company that generates nearly $94 billion in net revenue, and spent more than 30 years at PepsiCo in senior finance roles including Senior Vice President and Chief Financial Officer of PepsiCo Foods North America and Senior Vice President, Investor Relations from 2011 to 2019. He will serve on the Audit Committee and the Nominating & Governance Committee. Skipworth, 49, serves as President and Chief Executive Officer of Wingstop Inc., a Dallas-based company that operates and franchises more than 3,000 restaurants worldwide, and previously held roles including President and Chief Operating Officer at Wingstop as well as positions at Cardinal Logistics Holdings, LLC and KPMG LLP. He will serve on the Audit Committee and the Talent and Compensation Committee. Chief Executive Officer and Chairman of the Board Scott Baxter said the two bring decades of financial and portfolio leadership and a proven track record scaling a high-growth consumer brand, and that their perspectives will help inform how the company manages its portfolio, drives growth and strengthens its multi-brand platform.