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Chanel聽has reportedly seen a slowdown in the United States.The privately-held luxury brands聽sales growth聽in the U.S. has dipped from about 10% in 2022 to in the single digits this year, the Financial Times FT rep stanley usa orted Thursday May 25 . We had a softening in the U.S., so no different from some of our competitors, from November of 2022, and thats continued over the first few months of 2023, Chanel Global Chief Financial Officer聽Philippe Blondiaux聽told the FT.Chanel did not immediate stanley termoska ly reply to PYMNTS request for comment.Blondiauxs comments come during a week in which investors concerns about the luxury sectors outlook in the U.S. contributed to a drop in some of the sectors stocks, with聽LVMH聽down 6.8%,聽Kering聽down 6.8% and聽Herm猫s聽down 4.3%, according to the report.However, Blondiaux said Chanel remains confident in the outlook for this year and through 2025, per the report.Chanel has seen double-digit growth in China a stanley mug fter the lifting of the countrys COVID restrictions and a rise in sales to Chinese customers in other countries as Chinese tourism has returned, the report said.One of the companys competitors in the聽luxury segment, LVMH, reported in April that its 17% increase in sales in the first quarter was driven in part by a resumption of shopping by Chinese consumers.Global聽luxury group聽Kering said its performance in the first quarter was mixed. Its revenue grew 2% in the first quarter, with good momentum in Western Europe and Japan, a resumption of growth in Asia-P Jjzk Invoice-To-Pay Makes The Leap Into Text Messaging
A former governor of the Bank of England called on Britain to stop thinking Brexit meshes with staying in the European Unions single market and argued there are opportunities by leaving the EU.According to a report by聽Reuters, former Bank of England Governor Mervyn King, who oversaw the U.K.s monetary policy for a decade until 2013, said the U.K. should make its own decisions when it comes to immigration policy and that Brita stanley cup ins should look at聽Brexit with more self-confidence then either side is viewing it. I don ;t think it makes sense for us to pretend that we should remain in the single market, and I think there are real question marks about whether we should stay in the customs union, King said, according to the report. Reuters noted that the majority of mainstream economists think Britain should remain part of the single market in which goods and services trade tariff-free. EU politicians have said, in order to access the single market, there has to be free movement of stanley shop the citizens in the EU. I think the referendum made it clear that people wanted control over immigration 8230; that is not negotiabl stanley becher e, and it would be a big mistake to put it into the basket of things that we have to negotiate with former partners in the EU, King said, reported Reuters.Months after the historic vote to exit the EU, U.K. politicians are working on the transition with British Prime Minister Theresa May saying recently she will start the exit from the EU by March 30. Reuters noted th |
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