Burberry is set to cut 1,700 jobs globally as part of a cost-cutting and turnaround strategy led by CEO Joshua Schulman. Despite a challenging luxury market, the company’s adjusted operating profit exceeded expectations. Schulman is refocusing the brand on core products like trench coats and scarves, while navigating economic uncertainties and declining sales in key regions.

Kalyan Jewellers anticipates significant revenue growth this financial year. The gold retailer plans to expand its store presence across India. This expansion includes both Kalyan and Candere brands. The company aims to open 160 new locations. Kalyan Jewellers seeks to capitalize on the increasing demand for lower-carat jewellery.

Under Armour is expecting a 4–5 per cent revenue decline in FY26, driven by weak North America and Asia-Pacific markets, despite growth in EMEA.
SG&A expenses are projected to drop by 40 per cent, with modest operating income.
In FY25, revenue fell 9 per cent to $5.2 billion, and net loss stood at $201 million.
CEO Kevin Plank remains confident in the brand’s strategic reset.

India’s gems and jewellery exports experienced a 4.62% decrease in April, totaling USD 2,037.06 million, according to GJEPC data. Cut and polished diamond exports fell by 6.12%, while gold jewellery shipments saw a 5.41% decline. Polished lab-grown diamond exports remained nearly flat, but coloured gemstone exports showed a positive trend with an 11.95% increase.

Raymond has reported total income of ₹2,105 crore (~$252 million) in FY25, up 85 per cent YoY, with revenue from operations at ₹1,947 crore and EBITDA rising 41 per cent to ₹335 crore.
Net profit surged to ₹7,636 crore (~$914 million), driven by ₹7,584 crore from demerged operations.
In Q4, income grew 95 per cent to ₹601 crore (~$72 million), with ₹99 crore EBITDA.

De Beers is facing industry challenges. The company is selling rough diamonds at lower prices to select buyers. This move aims to reduce inventory. However, it creates tension among other customers. Anglo American pressures De Beers to boost sales. The diamond market shows signs of stabilization. US tariffs pose new threats. The industry is lobbying for exemptions.

Gold prices in Delhi surged by Rs 950 to Rs 97,500 per 10 gram, driven by firm overseas trends, while silver depreciated slightly. The rebound followed a sharp correction, influenced by easing safe-haven demand after US-China trade tariff adjustments.

Aramark has reported a revenue of $4.3 billion in Q2 FY25, up 2 per cent, with organic revenue rising 3 per cent and client retention exceeding 98 per cent.
Operating income grew 9 per cent to $174 million, and AOI rose 11 per cent to $205 million.
The company expects FY25 organic revenue growth of 7.5–9.5 per cent and adjusted EPS growth of 23–28 per cent, with a focus on strategic expansion.

The India-UK FTA removes tariffs on 99 per cent of Indian textile and apparel exports, boosting competitiveness in the UK market. India’s textile and apparel exports to the UK are projected to reach ~$2.8 billion by 2026.
UK retailers are expected to ramp up sourcing from India, while both governments may support joint ventures, sustainability efforts, and capacity-building to deepen trade ties.

US trade body AAFA has requested Canadian Minister of Environment and Climate Change Terry Duguid to include an exemption for products that test below the 100 ppm total organic fluorine threshold under prohibitions for intentionally-added PFAS in textile products.
It also requested Canada to include an exemption from PFAS regulation for products made with at least 50-per cent recycled content.