Latest news with #ReddBrown
Bloomberg
30-06-2025
- Business
- Bloomberg
Big Take: The Cruise Boom Straining Port Cities
The cruise industry is an outlier right now. Even as US summer travel is down, cruise companies are setting sail with record numbers of passengers this year. But as the industry tries to keep up with this demand, it's facing growing pains in the port cities it relies on most. On today's Big Take podcast, Bloomberg reporter Redd Brown travels to Galveston, Texas — a port city that's at the center of the industry's ambitious expansion plans and that is wrestling with the challenges that opportunity brings.
Business of Fashion
16-06-2025
- Business
- Business of Fashion
Coty Shares Surge on Report Company Looking to Sell Off Units
Shares of Coty Inc. jumped following a report the embattled cosmetics and perfume company is contemplating splitting up the business. The stock rose as much as 13 percent after Women's Wear Daily said the company is in the early stages of a sale process, citing 'multiple industry sources' it didn't identify. Coty's shares declined 32 percent this year through the close Friday, worse than performance of competitors and major equity indexes. WWD reported Coty is considering the sale of its luxury and consumer divisions in separate pieces, with Interparfums Inc. interested in its high-end fragrance brands Burberry and Hugo Boss. Coty didn't immediately respond to a request for comment. Interparfums didn't immediately provide a comment. Coty's sales have declined for two consecutive quarters as shoppers in North America and Asia pull back. Analysts are projecting total sales will fall 12 percent in the current quarter. The mass-market unit, which includes brands such as Covergirl, appears to be attracting less interest amid a slowdown in beauty spending in Asia and trade tensions, according to WWD. By Redd Brown Learn more: Coty to Cut 700 Jobs As Part of Cost-Saving Initiative The American beauty conglomerate announced on Thursday that a newly enhanced cost-saving programme will cull 700 jobs across the globe, around 5 percent of its workforce.
