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US Consumer sentiment rebounds, offering relief to retailers

US consumer sentiment jumped in June by the largest margin since early 2024, signaling a potential rebound in consumer confidence just as the retail sector eyes relief from persistent inflationary pressures and geopolitical trade anxieties. The University of Michigan’s preliminary sentiment index rose to 60.5, an 8.3-point increase over May,...

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Gucci-owner Kering names ex-Renault chief Luca de Meo as CEO

French luxury group Kering announced Monday that it had appointed Luca de Meo, who helped drive automaker Renault out of crisis, its new chief executive as it tries to turn around the fortunes at its struggling flagship brand Gucci. De Meo's appointment "marks a decisive step in the evolution of Kering's governance and strengthens the Group's...

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