Amer Sports Reports Strong Q1 Profit, Gucci Announces Leadership Changes and VF Corp Shares Drop

Canada Goose Minimally Affected by US Tariffs Due to Local Supply Chain

Canada Goose Holdings Inc. reported that US tariffs have had little effect on its business. About 75 percent of its products are made in Canada, with nearly all meeting the requirements of the US-Mexico-Canada Agreement. This allows the company’s goods to bypass most US tariffs, according to company executives.

LVMH Signals Ongoing Soft Demand Amid Q1 Revenue Miss

LVMH is cautioning investors about continued soft demand following a first-quarter revenue shortfall, Bloomberg said. The company is managing expectations for the second quarter, citing weak consumer confidence, especially in China. Some insiders indicated that performance may remain flat compared to the previous quarter.

VF Corp Shares Drop After Q4 Revenue Miss and Decline at Vans

Shares for Vans parent company VF Corp shares fell 15.8 percent after fourth-quarter revenue came in at $2.14 billion, missing analyst expectations and down 5 percent from last year. The North Face and Timberland posted modest gains, while Dickies saw a decline. By region, the Americas reported net revenue of $4.83 billion. In the EMEA region, net revenue declined 3 percent to $3.25 billion, down from $3.34 billion, while the Asia-Pacific region saw net revenue increase 1 percent to $1.42 billion, up from $1.4 billion in 2024. VF expects revenue to drop 3–5 percent in Q1 of fiscal 2026.

Amer Sports Reports Strong Q1 Profit

Amer Sports posted Q1 2025 revenue of $1.473 billion, up 23 percent year-over-year, with net income reaching $135 million, a 2539 percent increase. Growth was led by Arc’teryx and Salomon across outdoor apparel and footwear segments. Revenue in Greater China rose 43 percent, while the Americas remained the largest market.

Dragon Boat Festival Travel Sees Surge in Bookings and Cultural Interest in China

According to Meituan Travel, searches for “dragon boat bases” and “dragon boat culture parks” have risen 216 percent and 147 percent year-over-year since May 1. Top searched cities include Wenzhou, Foshan, Guangzhou, and Hangzhou. As of May 21, overall travel bookings for the Dragon Boat Festival holiday increased 63 percent year-over-year, with five-star hotel bookings doubling. Searches for the traditional festival dish “longchuan fan” (dragon boat rice) also rose 183 percent, especially in Guangdong, Dongguan, and Foshan.

Weibo Q1 Profit Rises 12 Percent

Chinese social media platform Weibo reported Q1 2025 revenue of $396.9 million, flat year-over-year, with adjusted net profit up 12 percent to $119.5 million. Ad and marketing revenue remained steady at $339 million, though contributions from gaming and mobile sectors declined. Alibaba-related ad revenue surged 89 percent due to AI product promotions and Spring Festival campaigns. Value-added services grew 2 percent, driven by membership subscriptions. Monthly active users reached 591 million, with daily active users at 261 million.

Tiffany & Co. Names Zhang Ziyi as Global Brand Ambassador

Tiffany & Co. announced Chinese actress Zhang Ziyi as its new global brand ambassador. Known for her acclaimed performances and dedication to the arts, Zhang will represent Tiffany’s craftsmanship and heritage. The collaboration marks a new chapter for the brand as it continues to expand its global presence through high-profile partnerships.

Gucci Announces Leadership Changes Ahead of Demna’s Creative Direction

Gucci has announced a leadership reshuffle as it prepares for creative director Demna’s arrival and navigates a 24 percent revenue drop in Q1. Maria Cristina Lomanto will become President of EMEA, while Marcello Costa has been named Chief Merchandising Officer. Both bring extensive experience in luxury fashion. The brand continues refining its structure during this transitional period under parent company Kering.