Connect with us

Fashion

Amazon beats cloud growth estimates

Published

on


By

Reuters

Published



October 30, 2025

Amazon.com forecast quarterly revenue largely below Wall Street estimates on Thursday, hurt by a weaker retail business as strong demand for its cloud services as businesses continue to spend relentlessly on artificial intelligence.

Reuters

The massive cloud demand is helping the tech company ease the pressure from weaker growth at its e-commerce business, which is gearing up for the holiday season amid weakness in consumer confidence stemming from global trade uncertainty.

The company’s shares surged more than 10% in extended trading.
Its cloud unit, Amazon Web Services, reported a 20% rise in revenue in the third quarter ending in September, compared with the estimates of a 17.95% increase.

Amazon projected net sales of between $206 billion and $213.0 billion for the fourth quarter, while analysts on average were expecting revenue of $208.12 billion, according to data compiled by LSEG.

The strong results from AWS, the world’s largest cloud provider, followed stellar cloud revenue growth reported on Wednesday by Microsoft’s Azure and Google Cloud, the No. 2 and No. 3 players in the industry, respectively.

Microsoft, Google-parent Alphabet and Facebook owner Meta all announced plans for higher annual capital expenditures as they pour money into chips and data centers.

AWS typically accounts for a little more than 15% of Amazon’s total revenue, but the segment is a huge profit engine, making up roughly 60% of the company’s total operating income. The unit reported revenue growth of 17.5% in the second quarter.

© Thomson Reuters 2025 All rights reserved.



Source link

Continue Reading

Fashion

Bartolomeo Rongone to leave Bottega Veneta for Moncler

Published

on


Published



January 20, 2026

In another change to Kering’s organisational structure: the group has announced that Bartolomeo Rongone, CEO of Bottega Veneta, will leave the group on March 31, 2026 to pursue new career opportunities.

Bartolomeo Rongone and Remo Ruffini – Moncler

The executive will step down from his role at Bottega Veneta on March 31, 2026, and will be appointed CEO of the Moncler Group with effect from April 1, 2026.

Under the Moncler Group’s new organisational set-up, Remo Ruffini will serve as executive chairman, retaining responsibility for creative direction and continuing to play a central role in governance and in shaping the group’s strategic direction.

This article is an automatic translation.
Click here to read the original article.

Copyright © 2026 FashionNetwork.com All rights reserved.



Source link

Continue Reading

Fashion

Puma to supply F1 champions McLaren with motor racing kit in global deal

Published

on


By

Reuters

Published



January 20, 2026

Puma will supply team kit to Formula One champions McLaren this season in a multi-year global deal that also covers activities in ⁠IndyCar, World Endurance from 2027, virtual racing, and the ⁠all-female F1 Academy series. No financial details were given.

Formula One F1 – Abu Dhabi Grand Prix – Yas Marina Circuit, Abu Dhabi, United Arab Emirates – December 7, 2025 McLaren’s Lando Norris celebrates after becoming the 2025 Formula One World Champion – REUTERS/Jakub Porzycki

“Our sport is in ‍incredible ‌shape, and it’s been fantastic to ⁠see an ‌influx of major fashion ‌and lifestyle brands who are looking for deep and meaningful ways to engage with our growing global ‍fanbase,” said McLaren Racing CEO Zak Brown.

McLaren previously had a ‌deal ⁠with ​Castore, with some media ⁠reports ​suggesting that was worth 30 million pounds ($40.41 million) a year.

Puma ​also equip Ferrari and Aston Martin. Williams have meanwhile ⁠switched to ⁠US lifestyle brand New Era.

© Thomson Reuters 2026 All rights reserved.



Source link

Continue Reading

Fashion

Estee Lauder sued by beauty tech startup for alleged theft

Published

on


By

Reuters

Published



January 20, 2026

Estee Lauder was sued by a self-described “disruptive” startup that accused the cosmetics giant of effectively putting it out of business by stealing technology to boost sales from jet-setting travellers in hotels.

Nomi has accused Estee Lauder of stealing its technology – Bloomberg

In a complaint filed on Friday night in Manhattan ⁠federal court, Nomi Beauty said Estee Lauder has been “driving literally billions in new revenue” to itself after abandoning contracts ⁠in 2018 and 2020, including means to determine consumers’ actual preferences for cosmetics instead of their stated preferences.

Nomi- the name is a homophone for “know me,” as in the customer- ‍said its “secret ‌sauce” was intended to help the parent of Clinique and MAC lipstick ⁠generate more revenue from luxury ‌hotel duty-free shops and in-room purchases, and become less dependent ‌on traditional retail stores. Rather than honour its contracts or follow through on discussions to purchase Nomi outright, Estee Lauder allegedly starved Nomi’s hotel partners of products, while rolling out competing programs in China, Costa Rica, ‍Malaysia, the UK and the US.

These programs “rely on the very same trade secrets Nomi had been educating Lauder about for years,” the ‌complaint said. Nomi ⁠is ​seeking unspecified compensatory, punitive, and triple damages. Estee Lauder did ⁠not immediately ​respond to requests for comment.

“Nomi’s stolen innovations brought Estee Lauder into the information age, and Estee Lauder continues to profit from them wildly,” Nomi’s ​lawyer Matthew Schwartz said in an email. Both companies are based in New York.

Since last February, Estee Lauder has ⁠pursued a “Beauty Reimagined” strategy, including prestige ⁠launches and a streamlining of its supply chain, to revive sliding sales. The strategy also called for up to 7,000 job cuts.

© Thomson Reuters 2026 All rights reserved.



Source link

Continue Reading

Trending

Copyright © Miami Select.