Pepkor Holdings Ltd. replaced the head of its Ackermans unit after Africa’s largest clothing retailer posted a drop in first-half earnings as it failed to get the right summer fashion mix.

While some votes remain to be counted, LVMH confirmed that two measures on the Cheval Blanc Beverly Hills project have fallen short by a “narrow margin.” The final results will be certified on June 2.

Multiple raids on Swatch Group AG’s stores in Malaysia over their sale of Pride-themed rainbow watches have sparked a furious response from the watchmaker and raised renewed doubts about the commitment of the nation’s six-month-old coalition government to LGBTQ rights.

European luxury goods makers came under pressure for a second day, extending a rout that’s wiped out about $60 billion in market value, in early signs of a turn in sentiment for a sector that’s been “priced for perfection.”

Kohl’s Corp. soared after it reported a surprise profit and reduced its stockpile of merchandise in the first quarter — early signs that the new chief executive officer is bolstering performance.

Fast-fashion giant Shein is rapidly ramping up manufacturing in Brazil, with 100 factories already producing for the online retailer since it announced plans to invest $148 million in the region a month ago.

International Flavors & Fragrances Inc. is weighing a sale of a unit making ingredients for the cosmetics and personal care industry, people with knowledge of the matter said.

US retail sales increased in April, suggesting consumer spending is holding up in the face of economic headwinds including inflation and high borrowing costs.