The News In Brief
Zara Billionaire Takes €3 Billion in Dividends for First Time
Amancio Ortega is set to receive €3.1 billion in dividends from Inditex this year, marking the first time he has exceeded the €3 billion threshold.
Inditex Meets Fourth-Quarter Sales Forecast
Inditex sales were up just 4 percent in currency-neutral terms over the February 1 to March 10 period, compared to 11 percent growth a year ago.
Walmart Faces Heat From Beijing After Demand for Price Cuts
Several Chinese authorities, including the Ministry of Commerce, have met with the US retailer to learn about its negotiations over price cuts with suppliers in China.
Puma Warns Tariffs, Geopolitical Tensions in 2025 Forecast
The German sportswear brand expects currency-adjusted sales to grow in the low- to mid-single-digit range, it said in a statement.
Boohoo Rebrands as Debenhams as Youth Labels Struggle
‘Debenhams is back,’ said its chief executive, Dan Finley. ‘The iconic British heritage brand, bought out of administration, has been successfully turned around. Rebuilt for the future and transformed into Britain’s leading online department store.’
Mango Adapting to US Tariffs, CEO Says
Mango does not plan to raise prices to offset the impact of tariffs, even though that could dent its margins, CEO Toni Ruiz said late on Monday in a joint interview with Reuters and French newspaper Les Echos at Mango’s headquarters outside Barcelona.
L’Oréal Recalls Acne Treatment on Cancer-Linked Chemical
L’Oréal’s Effaclar Duo, sold under the French company’s La Roche-Posay brand, is made with benzoyl peroxide, which kills bacteria to help treat acne.
Mango’s Sales Rise 8% in 2024
The Spanish fashion retailer reported sales of 3.33 billion euros ($3.62 billion) in 2024. The company attributed this growth to its international expansion, particularly in the United States, mirroring the strategy of its competitor Zara.
Trump Says Four Bidders in Play for TikTok Deal ‘Soon’
ByteDance Ltd.’s TikTok faces a deadline of April 5 to strike a deal for its US operations — or be banned from the country under a bipartisan law passed during the Biden administration.
Canadian Retailer Prepares to File for Bankruptcy
Hudson’s Bay is reportedly preparing to file for bankruptcy after failing to secure financing and delaying payments to suppliers, according to sources familiar with the matter.
E.l.f. Beauty Sued in Securities Claims Class-Action Lawsuit
The beauty company says the lawsuit based on a November 2024 short-seller report is “meritless.”
Gap Surges on Strong Sales Led by ‘Impressive’ Namesake Brand
Gap Inc. saw a 17 percent surge in shares following better-than-expected quarterly sales, with standout performances from its namesake brand, Old Navy, and Banana Republic, although Athleta posted an unexpected decline.