(Reuters) -Abercrombie & Fitch Co gave a tepid forecast for the crucial holiday quarter on Tuesday, as a resurgence in COVID-19 cases could dampen consumer appetite to shop ahead of the busy season.
Coty Inc posted a surprise quarterly profit on Friday as demand for its beauty products and fragrances recovered from lockdown lows and the cosmetics maker kept a tight lid on costs, sending its shares 17% higher in premarket trading.
Versace owner Capri Holdings Ltd beat second-quarter revenue and profit estimates on Thursday, buoyed by strong demand for its luxury apparel and accessories in China and surging online sales.
Estee Lauder Cos Inc reported better-than-expected quarterly results on Monday, as people confined to their homes bought more of its skincare products online and sales improved in its Asian markets.
Ratings agency Moody's cut the United Kingdom's debt rating on Friday over the huge economic hit from the coronavirus crisis, Brexit and the lack of clear budget plans from Prime Minister Boris Johnson's government.
Estee Lauder on Friday warned of weak quarterly sales due to COVID-19-led lockdowns in several markets, after it beat Wall Street's lowered estimates for third-quarter profit and sales on growth in China and higher online demand.
LONDON/BENGALURU, India Ratings agency Fitch cut Britain's sovereign debt rating on Friday, saying the country's debt levels would jump as the government ramped up its spending to offset the near shutdown of the economy in the face of coronavirus.
* Fitch leaves negative outlook on UK rating
(Adds reaction from UK Treasury)
New lines of Coach handbags helped Tapestry Inc beat holiday quarter expectations on Thursday, sending its shares up 6%, even as the fashion house warned the coronavirus outbreak could dent its sales by up to $250 million.
Coty Inc reported quarterly profit above expectations on Wednesday and said the recent coronavirus outbreak would have a relatively small impact on its earnings, sending the cosmetics and fragrance maker's shares surging as much as 22%.