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Several stocks, including PepsiCo to Expedia , can provide steady returns and earnings growth in the face of greater volatility, according Wolfe Research. Against this backdrop, investors may want to keep their eyes on stocks that reliably deliver strong returns. Wolfe Research screened for companies with a history of strong returns — as gauged by return on equity and return on capital employed — along with consistent earnings growth. Fast-casual burrito chain Chipotle Mexican Grill is another stock with historically strong returns and earnings growth, according to the firm's screener. Chipotle's shares are up 13.8% so far this year, buoyed by strong fourth-quarter earnings driven by improved sales and margins.
Persons: Wolfe, ROE, Goldman Sachs, Goldman, Kate McShane, Expedia, Morgan Stanley, Ralph Lauren Organizations: PepsiCo, Expedia, Wolfe Research, Dow Jones, Nasdaq, Costco, UBS Locations: Tuesday's
The hedge fund that owns True Religion is exploring a sale of the Y2K-era jeans brand as it returns to growth and profitability after emerging from its second bankruptcy, CNBC has learned. It's unclear what valuation True Religion is seeking, but it could sell for a mid single digit multiple of its EBITDA, the people said. Farmstead Capital Management, True Religion's owner, has hired Baird to run the sale process. True Religion went public in 2003 and made headlines for its growth and profits. Buckley, who helmed the company during its 2000s heyday and returned in 2019, has transformed True Religion into a leaner machine.
Persons: Baird, Baird didn't, Juicy Couture, Jessica Simpson, Britney Spears, Neiman Marcus, Bloomingdales, Michael Buckley, athleisure, Buckley, Levi Strauss, Levi, Michael Kors, Ralph Lauren Organizations: CNBC, Farmstead Capital Management, Saks Fifth, Religion, Nike Locations: Angeles
Stocks have raced ahead this year, with the S & P 500 trading above the historic 5,000 level. Stocks that have a 14-day RSI greater than 70 are considered to be overbought, meaning they could be at risk of a pullback. Several firms, from Deutsche Bank to Bank of America, walked away from the company's earnings release even more encouraged about its future. On average, analysts have a $111.38 price target on Disney, indicating less than 1% upside from the entertainment giant's last close. Other overbought companies in the S & P 500 are Boston Scientific and Ralph Lauren , which saw shares reach a 9-year high on the company's earnings beat this week.
Persons: Eli Lilly, Morgan Stanley, Eli Lilly's, Wells, Mohit Bansal, LLY, Walt Disney, Berkshire Hathaway, Nelson Peltz, Ralph Lauren Organizations: Nvidia, Dow Jones, CNBC, Stock, Deutsche Bank to Bank of America, Berkshire, Disney, Epic Games, ESPN, Boston Scientific Locations: Zepbound, Fortnite
Japan's benchmark Nikkei 225 rose nearly 0.1% to 36,897.42, slipping back from earlier gains that took it briefly to a 34-year high. In prior months, such a report may have hurt the stock market because of concerns that it would mean a longer wait for cuts to interest rates from the Federal Reserve. The latest set of earnings reports from big U.S. companies also kept the stock market mixed overall. It gave a forecast for expected profit across 2024 that fell short of analysts’. In other trading, benchmark U.S. crude lost 6 cents to $76.16 a barrel in electronic trading on the New York Mercantile Exchange.
Persons: Shinichi Uchida, Australia's, , Ryan Detrick, Ralph Lauren Organizations: TOKYO, Nikkei, Investors, Bank of Japan, SoftBank Group Corp, Nissan, Dow Jones, Nasdaq, Carson Group, Federal Reserve, Walt Disney Co, Arm Holdings, PayPal, Global, New York Community Bancorp, Traders, New York Mercantile Exchange, Brent, U.S . Locations: U.S, Asia, U.K
Ralph Lauren reported earnings of $4.17 per share, excluding items, while analysts surveyed by FactSet expected earnings of $3.57 per share. The company, which is anticipating soft sales growth this year, also announced a $1 billion share buyback program. Arm Holdings — The chipmaker's stock soared more than 28% after it reported a fiscal third-quarter earnings beat . Apollo Global Management — Shares rose nearly 3% after the asset management company's fourth quarter earnings topped estimates. The company reported $32 billion of inflows during the quarter, pushing its total assets under management to $651 billion.
Persons: Ralph Lauren —, Ralph Lauren, Morgan Stanley, Ally, Mattel —, Barbie toymaker, LSEG, Moody's, NYCB, FactSet's, , Jesse Pound, Tanaya Macheel, Lisa Kailai Han, Michelle Fox Theobald Organizations: , Revenue, Mattel, PayPal, New York Community Bancorp, Arm Holdings, Apollo Global Management, American, American Express, Maersk —, Maersk Locations: Danish
PayPal : Shares tumbled 10% Thursday after the financial technology company issued earnings guidance that came up short of Wall Street expectations. PayPal is in the midst of a turnaround plan, but it appears the progress may come slower than expected, Jim Cramer said Thursday. Arm Holdings : Shares surged more than 55% following a better-than-expected December quarter and strong sales and profit guidance for its current three-month period. The rise of GLP-1 weight-loss drugs from Eli Lilly , a longtime Investing Club holding, and Novo Nordisk remains something to watch for food companies like Kellanova, Jim said. "If you really do believe GLP-1s are going to be universal, then there will be less of their product bought," Jim said.
Persons: Jim Cramer, Jim, Ralph Lauren, Hershey, Eli Lilly Organizations: PayPal, Apple, CNBC Investing Club, Nvidia, Amazon, Hershey, Kellogg, Club, Novo Nordisk Locations: U.S, China, Novo
3-Stock Lunch: WYNN, PYPL & RL
  + stars: | 2024-02-08 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email3-Stock Lunch: WYNN, PYPL & RLEva Ados, ERShares CIO, joins 'Power Lunch' to discuss three stock plays including: Wynn Resorts, PayPal Holdings and Ralph Lauren.
Persons: WYNN, Eva Ados, Ralph Lauren Organizations: PYPL, ERShares, Wynn Resorts, PayPal Holdings
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMorning Meeting rapid fire: PayPal, Arm, Ralph Lauren, Hershey and KellanovaDuring the CNBC Investing Club’s Morning Meeting, Jim Cramer discussed five stocks in the news Thursday, including high-flying Arm Holdings and Ralph Lauren.
Persons: Ralph Lauren, Hershey, Jim Cramer Organizations: PayPal, CNBC, Arm Holdings
CNBC's Jim Cramer sees Ralph Lauren as the name is apparel to own, given the strength of the company's timeless brand. Shares of Ralph Lauren rallied 14% after the premium apparel, accessories, and fragrance company delivered an upbeat quarter before the opening bell Thursday. "Don't just take this pop" in Ralph Lauren, Cramer said Thursday. It's not a one-and-done quarter for Ralph Lauren, Cramer said. Cramer said Ralph Lauren CEO Patrice Louvet has figured out how to keep consumers interested despite the global macro challenges that have weighed on consumers.
Persons: CNBC's Jim Cramer, Ralph Lauren, Cramer, It's, Estee Lauder, Patrice Louvet Organizations: CNBC, Club Locations: Asia, China
Ralph Lauren posted earnings of $4.17 per share, while analysts surveyed by LSEG expected earnings of $3.54 per share. PayPal said it anticipates full-year earnings of $5.10 per share, short of the $5.48 per share analysts expected, according to LSEG. S & P Global — Shares dipped 5% following a fourth-quarter earnings miss and disappointing full-year guidance from the financial analytics firm. On the other hand, the company's fourth-quarter revenue of $3.15 billion beat the $3.13 billion analysts had anticipated. Zimmer Biomet — The stock slid 5%, despite the medical device firm posting a fourth-quarter earnings and revenue beat.
Persons: Walt Disney, Ralph Lauren —, Ralph Lauren, Hershey's, FactSet, Kate Spade, Stuart Weitzman, LSEG, Masco, Kellanova, Zimmer Biomet, Johnson, — CNBC's Michelle Fox, Hakyung Kim, Tanaya Macheel, Pia Singh Organizations: PayPal, Arm Holdings —, Hershey —, Intercontinental Exchange, Wynn, P Global, Johnson, LSEG
In a letter days before the Fed’s decision Wednesday to hold interest rates steady at a 23-year high, Democratic US senators blasted the central bank for America’s housing woes. In 2021 when the Fed’s key interest rate was near zero, home-price growth soared at a historic double-digit pace, according to the S&P CoreLogic Case-Shiller National Home Price Index. Divounguy said that the average 30-year fixed mortgage rate will likely not fall below 6% this year. That way we can actually start heading in the right direction with affordability and have that be sustainable and not just a short-term interest rate phenomenon,” she said. Richmond Fed President Thomas Barkin delivers remarks.
Persons: Valerie Plesch, Orphe Divounguy, Freddie Mac, it’s, Fannie Mae, Divounguy, ” Daryl Fairweather, Trump, Jerome Powell, Donald Trump, Powell, David Goldman, Alexandra Ross, ” Trump, Maria Bartiromo, Joe Biden, Estee Lauder, Tyson, Raphael Bostic, Eli Lilly, Loretta Mester, Walt Disney, Adriana Kugler, Thomas Barkin, Michelle Bowman, Ralph Lauren, Armour Organizations: CNN Business, Bell, DC CNN, Federal Reserve, Democratic, Eccles Federal Reserve, Bloomberg, Getty, CNN, National Association of Realtors, Fox Business, Bureau of Labor Statistics, Trump, Fed, Caterpillar, Tyson Foods, P Global, Institute for Supply Management, Atlanta Fed, Toyota, UBS AG, Chipotle, Cleveland Fed, Walt, CVS, PayPal, Brands, Fox, The Carlyle, News Corporation, New York Times Company, Mattel, Spirit Airlines, US Commerce Department, China’s National Bureau of Statistics, ConocoPhillips, Unilever, Duke Energy, Expedia, Warner Music Group, Tenet Healthcare, Richmond Fed, Pepsico, Honda Locations: Washington, Washington , DC, CAVA
TORONTO (AP) — NHL players are returning to the Olympics for the first time in more than a decade. The world's top hockey league will allow its players to participate in the Games in 2026 in Milan and in 2030 under an agreement announced Friday by the NHL, the NHL Players’ Association, International Ice Hockey Federation and the IOC. NHL players have not been at the Olympics since 2014 in Sochi. "There is a recognition of how important this is to the players," NHL Commissioner Gary Bettman said at a news conference during All-Star Weekend. “Extremely badly want to play in the Olympics,” McDavid said Thursday.
Persons: Gary Bettman, Luc Tardif, , Connor McDavid, Nathan MacKinnon, Cale Makar, Auston Matthews, Jack Eichel, Adam Fox, Sidney Crosby, Connor Bedard, ” McDavid, haven’t, Bettman, Tardif, Charlie McAvoy, ” McAvoy, Ralph Lauren, Marty Walsh, ” Bettman, McDavid, MacKinnon, Matthews, Eichel, hasn't, Russia —, Pavel Datsyuk, Kirill Kaprizov, It’s, Sebastian Aho, Organizations: TORONTO, — NHL, Olympics, Games, NHL, NHL Players ’ Association, Ice Hockey Federation, IOC, ” IIHF, Beijing, IIHF, U.S, Hockey, Team North America, Olympic, Detroit Red Wings, Minnesota Locations: Milan, Sochi, McDavid, South Korea, North America, Pyeongchang, Beijing, U.S, Canada, Sweden, Finland, Ukraine, France, Nice, Russia, Paris
Wall Street continues to climb a wall of worry even as investors deliberate how much longer equities can maintain their record run. But questions remain for investors after some major disappointments in an intense week suggested more challenges ahead. Apple dropped 3% this week after reporting lackluster earnings, weighing on the Dow Jones Industrial Average. Elsewhere in corporate earnings, regional banks as represented by the SPDR S & P Regional Banking ETF slid 7% after poor results from New York Community Bank spurred investor fears of a wider contagion. Signs of market weakness For investors, there may be more issues in the market going forward in 2024.
Persons: Stocks, Jerome Powell, Apple, Scott Rubner, Goldman Sachs, Rubner, Russell, Liz Ann Sonders, Charles Schwab, CNBC's, Sonders, Lehman, Raymond James, Josh Beck, James McCann, Abrdn, McCann, Rhys WIlliams, Williams, it's, Art Hogan, They're, Hogan, Estee, Eli Lilly, Ralph Lauren, Rowe Price, Philip Morris Organizations: Meta, Dow Jones, Regional Banking, New York Community Bank, Bank, Microsoft, Nvidia, Apple, Markets, Wayve Capital Management, Riley, Atlanta, PMI, Simon Property, Companies, Tyson Foods, Semiconductor, Caterpillar, Prudential Financial, Ford Motor, Enphase Energy, GE Healthcare Technologies, Consumer, Walt Disney Co, Wynn Resorts, PayPal, Brands, CVS Health, Hilton Worldwide, Uber Technologies, Costco Wholesale, Motorola Solutions, Expedia, Rowe Price Group, ConocoPhillips, The Hershey Co, Philip Morris International, PepsiCo Locations: China
Ralby stressed the crisis in the Red Sea is not just a U.S. problem, but recent attacks by the U.S. military have led to greater targeting of its vessels. After those attacks, Maersk announced it would no longer be transiting the Red Sea. MSC announced on December 17 that it would divert its services that would typically transit the Red Sea and the Suez Canal around the Cape of Good Hope. Sailing around the Cape of Good Hope to avoid the Red Sea adds one to two weeks to a one-way shipping journey relative to the Red Sea and Suez Canal. Rising freight costs were a big component of inflation during Covid and the Red Sea crisis has renewed fears that another bout of supply chain-triggered inflation could occur.
Persons: Ralby, Ian Ralby, Darr, Charles, Bud, Salud Carbajal, Biden, Hapag Lloyd, Bab, Good Hope, Jon Gold, Phillips, Ralph Lauren, Levi Strauss, Gold Organizations: U.S, Mediterranean Shipping Company, U.S . Navy, Coast Guard, Maritime Transportation, MSC, Senate Foreign Relations Committee, Maersk, Maersk Detroit, Maersk Chesapeake, Navy, Intelligence, Suzuki, Volvo, Michelin, Ikea, National Retail Federation, Bank of America, Van Heusen Corporation, Birkenstock, Capri Holdings, Nike, Corp Locations: Suez, Ismailia, Egypt, Yemen, U.S, Iran, Gulf, Aden, Maersk, Good, Europe's, Asia, Europe, Vietnam
Exactly the sort of style, for example, that might appeal to Republicans with a yen for the old days. Partiers.”And while Mr. Trump clearly intended his sartorial criticism to be a barb at Ms. Haley — perhaps an implication that he knows fancy (or his wife, Melania, does) and his rival does not — the dress was in fact a pretty effective representation of how Ms. Haley has used her image as part of her campaign strategy. That starts with the fact that she even wore a dress to make her speech, rather than, say, the standard female politician’s trouser suit or even the American flag Ralph Lauren sweater she had been sporting on the road. If you want something done, ask a woman.’”And in the semiology of clothing, a dress often suggests “woman.” Mr. Trump of all people should understand the subconscious messaging. He is, after all, the man who, as president, announced that the women in his administration should “dress like women.”
Persons: Teri Jon, Trump, Haley —, Melania, Haley, Ralph Lauren, Margaret Thatcher, , ” Mr, Organizations: , American Locations: British
Ralph Lauren CEO: We are starting to plant seeds in India
  + stars: | 2024-01-22 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRalph Lauren CEO: We are starting to plant seeds in IndiaRalph Lauren CEO Patrice Louvet joins 'Squawk on the Street' to discuss Louvet's outlook for Ralph Lauren this year, the global markets, and artificial intelligence.
Persons: Ralph Lauren, India Ralph Lauren, Patrice Louvet Locations: India
Altice USA is in talks to sell the financial news streaming service Cheddar News to LA-based private equity firm Regent LP, according to people familiar with the matter. Instead, Altice USA would participate in Cheddar's future performance as part of a so-called "earn out" structure. Since then, Altice USA, the fourth-largest U.S. cable provider, behind Comcast , Charter and Cox, has looked to shed assets as its stock price has plummeted. Altice USA has also considered selling U.S. cable asset Suddenlink but dropped those plans in late 2022. The New York Times reported Altice USA was considering selling Cheddar earlier this year.
Persons: Jon Steinberg, Dexter Goei, Steinberg, Goei, Regent, Ralph Lauren, Regent didn't Organizations: USA, Regent, Altice, CNBC, Altice USA, Comcast, Cox, Sightline Media, Sunset Magazine, Time Inc, Club Monaco, New York Times Locations: LA, USA, Altice USA, U.S, Tegna
In 2020, Ralph Lauren launched initiatives to expand its “collegiate sensibility,” which first resulted in a 2022 collaboration with Morehouse and Spelman Colleges incorporating the traditions and styles of historically Black colleges and universities. “Ralph Lauren has always been inspired by the people, art and cultures that make up America,” wrote David Lauren, son of founder Ralph and the company’s chief branding and innovation officer, in an email to CNN. Courtesy Ralph LaurenThe designer, activist and TikTok-famous skateboarder enthusiastically “reimagined” signature Ralph Lauren silhouettes, like the Great Ranch Coat, an outerwear piece she’d admired for years. “So it was just me, weaving exactly how they would, just true to their own style.”"Heritage and tradition are at the center of everything I love," said Ralph Lauren in a statement. Ryan RedCorn/Courtesy Ralph LaurenGlasses' collection features 32 pieces total, in colors "inspired by her homeland on Navajo Nation," the brand said.
Persons: Ralph Lauren’s, “ It’s, Ralph Lauren polos, nava, , , Ralph Lauren, ’ ”, Ryan RedCorn, Ralph Lauren “, Tyler Sr, , Gabriella Hearst, Jai Al, “ Ralph Lauren, David Lauren, Ralph, America —, Glasses, I’m, Ralph Lauren Glasses, Piki Wadsworth, Ralph Lauren flagships, Osage multihyphenate, , Daryn, “ Ryan, Ralph Lauren's, Ralph Lauren That’s, Phillip Bread, Mato Mayuhi, Tyler Organizations: CNN, New, Futures, Morehouse, Spelman Colleges Locations: Rock Point , Arizona, Navajo, New York City, Oxford, America, concho, Saltillo, White, Phoenix, lensed
Many of this year's VC rising stars told Business Insider that their go-to power outfits included apparel like tailored sport coats or Chelsea boots, and more casual pieces like hoodies and well-fitting jeans. Very few investors are wearing collared shirts with their jackets, opting instead to pair it with a t- shirt and jeans. Nmachi Jidemna told Business Insider that for her everyday wear, her go-to was "usually a structured blazer with a relaxed pair of jeans." Lori Harvey (left) and Heidi Klum (right) wearing red outfits. Black flowy trousers, black turtleneck, and chunky black boots."
Persons: that's, Laura Bock, Nmachi Jidemna, Javier Grevely, Ralph Lauren, Tobi Coker, Janelle Teng, Patron's Amber Atherton, Jason Yeh, Ashley Paston, Justin Williams, VCs, Mahati Sridhar, Grady Dick, Michelle Farsi, Pear, Vivien Ho, Lori Harvey, Heidi Klum, Valentina Frugiuele, Bauer, Griffin, Luci Fonseca, RTFKT, Brandon Hoffman, JL, Sarah Wu, Emerson, Fiona Huang, Demi Obayomi, Natalie Borowski, Daisy Wolf, Andreessen Horowitz Organizations: Business, Wellington Management, Converse, Seae Ventures, Getty, GV, Nike, Sunset Ventures, Bain Capital Ventures Locations: London, Chelsea
This iconic shirt is not only a great gift for a loved one, but also a perfect excuse to treat yourself. Impress at the office holiday partyWhat makes special occasions, well, special, is a break from the ordinary — and what you wear contributes to that extra flair. For your annual office holiday party, retire the clothes you wear for virtual meetings or office visits. Browse all your favorite styles from Polo Ralph Lauren's Holiday collection here. This post was created by Insider Studios with Polo Ralph Lauren.
Persons: Polo Ralph Lauren, grandma, It's, Cotton Chino Ball, you've, Polo Ralph Lauren's suede, Sullivan Slim Polo, Jean, Whitman, Polo Ralph Lauren's, Gus Powell, Tiffani Williams Organizations: Oxford, Polo, Plaid, Sullivan, Insider Studios Locations: Cashmere, Cardigan, cardigan
(CNN) — Back in February, Nattawin Wattanagitiphat’s fans spared no expense in marking the Thai actor’s 29th birthday. Local media reported his birthday haul totaled 50 million Thai baht, or around $1.4 million. But more often than not, the Thai stars who are able to build international fan bases tend to be actors. “K-pop stars dedicated their lives training (from a young age) to be idols,” but Thai stars, she said, can be more relaxed. We don’t really keep the talent in a box like Korean companies do.”Another advantage some Thai celebrities have is their ability to resonate among Chinese audiences.
Persons: Nattawin, Christian Dior, Lefty.io, Karla Otto, TikTok, Kylie Jenner, Zendaya, Pascal Le Segretain, Dior, Tontawan Tantivejakul, Lalisa Manobal, Lisa, Celine, There’s, Pharrell Williams, Louis Vuitton, Davika Hoorne, Urassaya Sperbund, , Calvin Klein, Bright’s, Metawin, , Nichapat, Sumettikul, “ KinnPorsche ”, Ralph Lauren, Kanawut, Suphap, It’s, , , ” Suphap, Blackpink, Jisoo, Jennie, Rose, Evan Agostini, Dior womenswear, Jennifer Lawrence, Robert Pattinson, Fatti, ” Laleh, ” Davika Hoorne, Michael Kors, Jamie McCarthy, Traipipattanapong, Gucci, Justin Shin, Krisda Witthayakhajorndet, Thais Organizations: The, Fashion, CNN, Thai, Rolex, Vogue, Mastercard, Bain & Company, American Vogue, Burberry, Prada, Venture Management, Gucci, MTV, Apo, South Locations: , Asia, India, Instagram, Thailand, North, South Asia, Thai, Southeast Asia, Pacific, Bangkok, Pee Mak, Norwegian, American, Vogue Thailand, Newark , New Jersey, Launchmetrics, Paris, Blackpink, Brooklyn , New York, Seoul, South Korea
The hot word for CEOs on earnings calls is 'choiceful'
  + stars: | 2023-11-20 | by ( Amelia Lucas | ) www.cnbc.com   time to read: +4 min
So far in 2023, choiceful has appeared in 15 quarterly earnings calls for S&P 500 companies, according to a CNBC analysis of FactSet transcripts. In 2021, only the CEOs of Molson Coors and McCormick said "choiceful" when speaking to investors on their quarterly conference calls. But the Oxford English Dictionary notes the earliest known use of the word in the late 1500s. These days, CEOs have used it to describe a consumer whose behavior has changed over the last two years. That's where "choiceful" comes in handy again.
Persons: Doug McMillon, choiceful, That's, McCormick, Laxman Narasimhan, it's, Ralph Lauren, Patrice Louvet, Molson Coors, Gavin Hattersley, we've, McDonald's Kempczinski Organizations: Walmart Inc . Corporation, Automation, Innovation, CNBC, Molson Coors, Webster, Oxford English, Consumers Locations: Washington , DC, Merriam, McDonald's
In today's big story, we're looking at what the $650 billion in unrealized losses means for financial firms. That's the unrealized losses US financial firms wracked up as of September 30, according to Moody's estimate. That means there's a lot of wiggle room for how big banks can portray them on their balance sheet. To be sure, big banks are better capitalized than SVB. Big banks' share prices noticeably dropped as bond prices sunk.
Persons: , it's, Nikolas Liepins, it'd, Matthew Fox, Dow Jones, isn't, Wall, Jim Chanos, Chanos, Ralph Lauren, Expedia, Apple, Dan Clancy, he's, Tyler Le, Tyson, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Anadolu Agency, Getty, NFL, Bank, Bank of America, Orrell, CNBC, NBCU, Apple, Big Tech, Professional, Vegas Golden Knights, Stanley, Tyson Foods Locations: Florida, New York City, San Diego, London, New York
1962 Ferrari Brings $51.7 Million at Sotheby’s
  + stars: | 2023-11-13 | by ( Julia Halperin | ) www.nytimes.com   time to read: +1 min
A bright red Ferrari with a storied history sold for $51.7 million, with buyer’s fees, on Monday, becoming the most expensive automobile from that Italian carmaker ever sold at auction. RM Sotheby’s, the automobile seller in which Sotheby’s bought a controlling stake in 2022, offered the 1962 Ferrari 330 LM/250 GTO by Scaglietti with an unpublished estimate of $60 million. Two bidders drove the price to $47 million before auction-house fees. Sotheby’s promoted the car as a luxury object, offering it in a stand-alone sale during its marquee fall auctions of fine art in New York. There are only 36 Ferrari 250 GTOs in existence, produced between 1962 and 1964.
Persons: Sotheby’s, Oliver Barker —, Europe —, Jonas Wood, Ralph Lauren, Nick Mason, Pink Floyd Organizations: Ferrari Locations: New York, Europe
CNN —The Metropolitan Museum of Art’s Costume Institute has revealed details of its 2024 spring exhibition, which serves as the inspiration for the theme of the accompanying Met Gala. “Sleeping Beauties: Reawakening Fashion” will be presented at the Costume Institute in New York from May 10 through September 2, 2024, pulling rare “masterworks” from the Institute’s archive for museumgoers to experience in a new, imaginative way, according to a press release. Nick Knight/Courtesy of The Metropolitan Museum of Art“When an item of clothing enters our collection, its status is changed irrevocably. Hippolyte Petit/BFA.com; Courtesy The Metropolitan Museum of ArtGarments too fragile to be dressed on mannequins will be displayed instead as the titular “sleeping beauties,” appearing in coffin-like glass displays with microscopes available to observe their deterioration up close, according to the Institute. But how will celebrities interpret a more abstract, nuanced theme on the Met Gala’s red carpet — especially one that focuses on garments that one can no longer wear?
Persons: Karl Lagerfeld’s, Madeleine Vionnet, Elsa Schiaparelli, Christian Dior, Alexander McQueen, Charles Frederick Worth, Nick Knight, , Andrew Bolton, Hippolyte Petit, Karolina Kurkova’s Marchesa, Blake, Ralph Lauren Organizations: CNN, Metropolitan Museum, Art’s, Costume Institute, Met, Metropolitan Museum of Art, Dior's, Metropolitan Museum of, Institute Locations: New York, Worth
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