Harper’s Bazaar to Launch Philippine Edition
Hearst Magazines International is partnering with Philippine media group AGC Power Holdings to launch the fashion title in November 2027.
earnings
Luxury
Hermès Sales Jump on Ready-to-Wear Clothes, Leather Bags
Hermès International sales jumped in the first quarter as consumers spent more on the company’s ready-to-wear clothing and leather bags.
Retail
Rent the Runway’s Long Road Ahead to Profitability
The rental platform’s revenue is up from last year — with the number of active subscribers more than doubling — but figures still remain below pre-pandemic levels.
Retail
Asos Warns Full-Year Target Is at Risk From Inflation, War
The retailer said Tuesday it’s maintaining its forecast for the fiscal year ending in August, except for the loss of business due to a suspension of sales in Russia.
Luxury
How Long Can LVMH Keep Up Its Winning Streak?
This week, everyone will be talking about LVMH’s latest results, the return of Coachella and an important US inflation gauge.
Retail
Can Fashion Resale Ever Be a Profitable Business?
Companies like The RealReal and ThredUp promised Wall Street that with scale comes profit. But operational costs and competition have kept them in the red.
Retail
H&M Seen Posting First-Quarter Profit, Russia Clouds Outlook
Sweden’s H&M is seen swinging back to profit in its December-February quarter as pandemic effects ease, though the closure of its Russian stores and the economic fallout from war in Ukraine has made the company’s outlook more uncertain.
Retail
PVH Corp Posts 28 Percent Revenue Growth in 2021
The Calvin Klein and Tommy Hilfiger parent on Tuesday reported that fourth quarter revenue increased 16 percent to $2.4 billion compared to the prior year, led by rising sales at the two brands.
Retail
Britain’s Next Trims Guidance on Overseas Outlook
British clothing retailer Next reported a 10 percent rise in annual profit but trimmed its guidance for 2022-23, with a better than expected start to the year in its home market offset by a deteriorating picture overseas.
Global Markets
Magazine Luiza’s Net Revenue Drops in Fourth Quarter on Inflation, Interest Rate Concerns
Brazilian retailer Magazine Luiza SA reported net revenue of 9.4 billion reais ($1.87 billion) in its fourth quarter, down 6.6 percent year-on-year.
China
Anta Net Profit Surges 49.6% in 2021
Chinese sportswear giant Anta Sports posted strong annual revenue of 49.33 billion ($7.76 billion) yuan in 2021, up 38.9 percent year-on-year.
Retail
Nike Beats Quarterly Revenue Estimates Boosted by North America Demand
Nike Inc. beat quarterly revenue estimates on Monday, helped by robust holiday demand for its sports shoes and apparel in North America.
China
Chinese Sportswear Giant Li Ning Sees Revenue Rise 56.1% in 2021
The brand reported 2021 revenue of 22.57 billion yuan ($3.55 billion) and gross profit of 11.97 billion yuan.
The News in Brief
Sycamore Said to Near Deal to Sell Boots
The private equity firm is nearing a deal, valued at $9 billion, to sell the UK health and beauty retail business to the Canadian branch of the billionaire Weston family, a source told Bloomberg.
Pandora Opens World’s Largest Jewellery Factory in Vietnam
The $150 million plant is the Danish jewellers first outside of Thailand, part of a bid to diversify its manufacturing footprint and boost supply-chain resilience.
Luca de Meo Says Italy Remains Key, Rules Out Production Shift
The Kering CEO also denied any interest in buying a minority stake in Armani, adding that the group was focusing on other challenges.
H&M, Adidas and Inditex Back New Effort to Address ‘Waste Colonialism’
The new initiative will explore how the industry can take responsibility for the millions of used and unsold garments exported to secondhand markets around the world.
Dyson’s $499 AI Toothbrush Sees Rocky Debut
The UK firm blamed a production error resulting in ‘water seepage’ for the disappearance of its newly launched camera-equipped toothbrush from stores.
Sephora to Launch at Marks & Spencer
‘Sephora at M&S’ will roll out in M&S stores and online starting next spring, with plans to expand to 100 locations by the end of 2028.
Novo Buys Rights to Early Obesity Pill For $2.6 Billion
The Wegovy maker has signed a deal to license an experimental obesity pill from China’s Jiangsu Hengrui Pharmaceuticals as it seeks to regain share of the global GLP-1 market.