Boohoo has been moving into beauty of late through its own retail brands and through buys such as Debenhams. But its latest move is a bit different. It’s made what it calls a “strategic investment” in a key pureplay.
Walmart nudged up its annual profit forecast on August 16, partly reversing a hefty recent cut, as discounts to clear excess merchandise and lower fuel prices helped it beat expectations for quarterly sales.
Wolverine Worldwide posted revenue of $713.6 million in the second quarter for growth of 12.9 per cent versus the prior year. Excluding Sweaty Betty, revenue was $666.2 million, a record for the period.
British luxury brand Burberry has received approval from the Science Based Targets initiative (SBTi) for its net-zero emissions target.
Swedish fashion giant H&M's official store on Alibaba's Tmall e-commerce platform has re-opened, 16 months after the Chinese site took it down following the brand's criticisms of human rights abuses in Xinjiang.
Pandora, the world's largest jewellery maker, said on August 16 it would move ahead with its bet on lab-made diamonds, following its announcement last year to stop selling mined diamonds.
The good news just keeps flowing from Watches of Switzerland Group with the company on August 16 issuing a buoyant trading update for the 13 weeks to the end of July.
Ted Baker and Authentic Brands Group announced on August 16 that ABG will be buying the British fashion retailer for an agreed price of around £211m ($254m). It will mean a major push into North America for the label.
The board of Dubai's Emaar Properties, which owns the Dubai Mall, will meet on Thursday to discuss the sale of its e-commerce fashion business, the company said on August 15.
Lifestyle retailer Joules said it has found a new CEO to replace Nick Jones. Jonathon Brown will join on 7 September 2022 and will take over fully at the end of next month “following a short handover period”.
Activist hedge fund Starboard Value, which had offered to buy Kohl's Corp for roughly $9bn early this year, slashed its stake in the department store by more than 80% in Q2, according to a regulatory filing.
Net sales of US-based HanesBrands from continuing operations were $1.51bn, a decline of 14% in the second quarter of fiscal 2022. This was caused by was driven by a ransomware attack and softer-than-expected POS trends.
A combination of strong same-store sales, new store launches, and higher contribution from online channels will add 21-23% revenue growth for apparel retailers in India in fiscal 2023.
Canada Goose Holdings Inc has surpassed Wall Street targets for quarterly results after affluent consumers undeterred by decades-high inflation snapped up its luxury parkas and jackets.
Italian fashion house Salvatore Ferragamo has announced that it has struck a partnership with online luxury shopping retailer Farfetch to expand its digital presence, targeting younger shoppers.
