Profit Archive

Luxottica Sales Soar as Ray-Ban Maker Forecasts Revenue Growth

MILAN, Italy — Luxottica Group SpA gained the most in more than seven years after the maker of Ray-Ban sunglasses said sales growth will accelerate in 2017. Revenue will probably rise by a mid-single-digit percentage next year, chief financial officer Stefano Grassi said on a call with analysts Monday. Third-quarter sales rose 3.5 percent at constant exchange rates, the Milan-based company also said. The stock rose as much …

BlackRock Increases Stake in World’s Biggest Jewellery Retailer

HONG KONG, China — One of the worst analyst-rated jewellery retailers in Hong Kong has caught the attention of the world’s largest asset manager. BlackRock Inc. increased its stake in Chow Tai Fook Jewellery Group Ltd., and added the stock to its global long/short equity fund in the third quarter, according to data compiled by Bloomberg. European investment firms Gamax Management AG and Robeco Groep NV …

Gap Narrowly Tops Earnings Estimates Amid ‘Signs of Progress’

SAN FRANCISCO, United States — Gap Inc. posted second-quarter earnings that narrowly topped analysts’ estimates, giving hope that the largest apparel-focused U.S. retailer can mount a comeback. Earnings were 60 cents a share in the quarter, excluding some items, the San Francisco-based company said in a statement Thursday. The company said earlier this month that profit would probably be 58 cent to 59 cents, with …