France-based luxury conglomerate LVMH, through its unit L Capital, is set to acquire a significant minority stake in Gitanjali Gems' proposed unit that will control the Indian firm's branded jewellery and retail businesses.
Hibbett Sports Inc cut its fourth-quarter earnings outlook on slow January sales. "After a strong start to the quarter, we were disappointed with comparable store sales in the latter half of January," Chief Executive Jeff Rosenthal said in a statement.
Polo Ralph Lauren Corp said momentum from a strong holiday season should continue in the current quarter and it has been able to charge full price for more of its high-end clothing, helping push its shares to an all-time high.
Avon Products Inc posted a steeper-than-expected drop in quarterly profit, weighed down by weak sales and restructuring charges. Shares of Avon, the world's largest direct seller of cosmetics, fell 4 percent to $28.15 in premarket trade.
Swiss fragrance and flavour maker Givaudan said it was preparing price hikes to offset a strong rise in raw material prices in 2011 after it met forecasts with a 71 percent rise in full-year net profit.
Global luxury retailer LVMH said Friday that strong demand for its champagnes and Louis Vuitton leather bags helped it make a 73 percent leap in full-year profit, and said prospects for 2011 were good.