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
Retail
Russia Clouds Prospects for Inditex After Sales Surge
Sales at Zara owner Inditex surged well above pre-Covid levels at the start of its new financial year, though the world’s No.1 fashion retailer faces a challenge in the months ahead after it stopped trading in Russia, a major market.
Retail
H&M Sales Soar but Shares Slip on Wider Ukraine Impact Concern
H&M reported a 23 percent rise in first quarter sales on Tuesday, which was in line with market expectations, as the world’s second-biggest fashion retailer attempts to build on its recovery from the Covid-19 pandemic.
Global Markets
Esprit Flags its First Profit in Five Years
The Hong Kong-listed fashion retailer says it estimates its profit attributable to shareholders for the year to Dec. 31 to reach approximately $47 million.
Global Markets
Arezzo & Co’s Net Revenue Rises 81% in 2021 on Physical Retail Acceleration
The Brazil-based footwear and accessories conglomerate registered full year 2021 adjusted net revenue of 2.93 billion Brazilian reais (approximately $575.7 million).
China
Perfect Diary Parent Yatsen Holdings Sees 2021 Revenue Rise 11.6%
The Guangzhou-based parent company of Perfect Diary and Eve Lom posted total net revenue of 5.84 billion yuan ($916.4 million) in 2021.
Global Markets
Giordano’s Sales, Profit Grow as Move Upmarket Gains Pace
The Hong Kong-listed fashion retail group says it is working to change consumer perception that it’s a budget brand.
China
JD.com Posts Quarterly Loss as Costs Rise, Revenue Growth Slows
The e-commerce firm posted a quarterly loss on Thursday as its operational costs surged, and reported its weakest revenue growth in six quarters amid slowing consumer spending.
Beauty
Beauty Giant Natura Defies Skeptics With Unexpected Margin Gain
The firm, which acquired Avon Products Inc. less than three years ago, saw its adjusted Ebitda margin rise by 90 basis points from a year earlier to 13.3 percent, the Sao Paulo-based company said Wednesday in a statement.
Global Markets
Myer’s Share Price Soars After Rare Dividend Promise
The Australian department store operator today revealed a six-month profit of AU$32.3 million ($23.7 million) on sales of AU$1.52 billion and confirmed it would pay its first dividend since 2017.
Global Markets
Adidas Expects Russia Hit in 2022, but China Recovery
German sportswear company Adidas said it expected a halt to its business in Russia due the war in Ukraine to put at risk up to €250 million ($273.10 million) of sales in 2022.
Retail
Making Sense of Wall Street’s Retail Sell-Off
Retailers are reporting record sales, but investors are spooked by inflation, the war in Ukraine and more. What lies ahead?
Luxury
Ferragamo to Revamp Product Offer, Won’t Give Guidance for 2022
The new boss of Salvatore Ferragamo aims to boost sales by revitalising its product offer, though the Italian luxury group said the war in Ukraine and the lingering pandemic in some areas meant it could not give an outlook for 2022.
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.