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1. Coach’s sales guidance disappoints

Handbag maker Coach’s full-year sales forecast have missed analysts’ estimates. The New York-based company is cutting back on promotions and reducing stock in department stores. It is expecting group sales of between Us$5.8bn and $5.9bn in the 2018 financial year. Wall Street forecasts had been for $6.04bn. Coach recently closed its buyout of Kate Spade, a deal meant to reduce its dependence on its namesake brand.

2. Modelo Negra owner to buy craft brewery

The third-largest beer company in the US, Constellation Brands, which houses Corona and Modelo Negra will buy craft brewery Funky Buddha. The start-up brand is best known for its foodinspired beers, such as Maple Bacon Coffee Porter. The sale price has not been disclosed.

3. Bad time for watchmaker Fossil

Fossil Group expects revenues to fall as much as 8.5% in 2017. The Nasdaqlisted company reported a secondquarter loss of $344.7m this week. CEO Kosta Kartsotis says Fossil still has “traction” in the wearables space, even though its traditional watch business has fallen out of fashion.

4. Mcdonald’s ‘lovin’ it’ in China

Mcdonald’s will almost double the number of stores in mainland China by 2022, as part of its partnership with state-backed conglomerate Citic and Carlyle Group. The US fast-food chain expects to have 4,500 stores, up from 2,500 now. It also says it is targeting double-digit annual sales growth in the region over the same period.