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The COVID-19 pandemic has led to significant job losses and impacted consumer spending on several discretionary categories, including fashion and luxury goods. As per Boston Consultancy Group, fashion retailer sales could decline as much as 35% Y/Y in 2020 and luxury store owners could face sales deficits of 45%. The consulting firm also estimates that 75% of fashion and luxury companies could suffer cash shortages.Using the TipRanks Stock Comparison tool, we will place two popular companies in the luxury space—Tapestry and Capri Holdings alongside each other to see which stock has a better chance of recovery.Tapestry (TPR)Tapestry, owner of luxury brands Coach, Kate Spade, and Stuart Weitzman, was already under pressure due to continued weakness in its Kate Spade brand and the impact of COVID-19. To add to its woes, Jide Zeitlin resigned as the Chairman and CEO in July amid an investigation into his personal behavior. CFO Joanne Crevoiserat was...
Huawei Technologies has built up stakes in Chinese semiconductor companies and other tech businesses as the world's largest telecoms equipment maker bolsters its supply chain in the face of pressure from the United States. Habo Investments, set up by Huawei in April 2019, has closed 17 deals for stakes in Chinese tech companies since August last year, public records show. The investment arm was established in response to what Huawei's rotating chairman, Guo Ping, last week described as "suppression" by the United States after escalating restrictions that have cut off Huawei's supplies of many overseas chips and effectively barred it from building its own....
A seminar at the 2020 Fleet Forward Experience will discuss how and where the commercial vehicle industry is evolving from the financial, manufacturing, equipment, and fleet perspectives. ...
Space Exploration Technologies Corp CEO Elon Musk revealed Monday that the company has plans to take its satellite broadband unit Starlink public, but not until the revenue growth is "smooth" and "predictable."What Happened: Such an initial public offering would come "several years in the future" as the public market doesn't "like erratic cash flow," the billionaire suggested, adding a laugh.Musk added that whenever such an IPO happens, Starlink can be trusted to prioritize retail investors. "I'm a huge fan of small retail investors. Will make sure they get top priority. You can hold me to it," the SpaceX CEO claimed.> We will probably IPO Starlink, but only several years in the future when revenue growth is smooth & predictable. Public market does *not* like erratic cash flow haha. I'm a huge fan of small retail investors. Will make sure they get top priority. You can hold me to it.> > --...
The coronavirus pandemic neared a grim new milestone of 1 million deaths on Monday, as new diagnoses in the around the world continue to outpace a slowdown in the rate of fatalities....
(Bloomberg) -- A meteoric rally in an Australian penny stock is fast unraveling after confounding not just market watchers but also the company’s CEO.BrainChip Holdings Ltd., an artificial intelligence-focused startup whose flagship product is yet to be made widely available for commercial use, saw its 2020 gains propel to 1,500% earlier this month. While concerns about overheating have seen the stock getting hammered since, its 709% advance year-to-date still makes for one of the best performances among technology names in Asia Pacific, according to data compiled by Bloomberg.“I was surprised about the peak” Louis DiNardo, BrainChip’s chief executive officer, said in an interview. “Shares were overbought for a company that’s just introducing its product.”BrainChip is one in a long list of global technology stocks that have surged this year as the pandemic put investor spotlight on companies focused on technological innovation. The firm is developing a processor, Akida, that can be...
