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
ThredUp Sales Grew by 35 Percent in 2021
The online resale platform posted record sales in the fourth quarter of 2021, it said Mar. 7, but profitability won’t be on the horizon this year.
Global Markets
Coupang Losses Widen on Soaring Costs to Fend Off Rivals
South Korea’s leading e-commerce company, reported a wider loss in the fourth quarter as the company continued to aggressively spend on infrastructure and services in the face of intensifying competition.
Retail
What Do Activist Investors Want From Fashion?
The arrival of an activist investor can cause a brand's stock to soar, but they can also trigger unpredictable battles over a company’s future.
Retail
Gap Expects Strong Earnings as Apparel Demand Rebounds, Shares Jump
Gap Inc. on Thursday forecast annual earnings above estimates, betting on strong demand for jeans and shirts from its Old Navy and Athleta brands as a decline in Omicron cases encourage Americans to venture out more.
Global Markets
Chilean Retail Giant Falabella Reports Record Net Income for 2021
As consumption bounced back last year, the retailer reported net income of $772 million for the year, compared to only $30.7 million in a pandemic-hit 2020.
Retail
Victoria’s Secret Reports Favourable Fourth-Quarter Earnings But Forecasts Downturn
The lingerie giant beat analysts’ estimates for its earnings and sales in the quarter ending January 29, 2022.
Retail
Nordstrom Shares Jump After Retailer Projects Strong Full-Year Results
Nordstrom Inc forecast full-year revenue and profit above estimates on Tuesday, signaling strong demand for its upscale apparel and footwear as Americans resume normal life, and driving its shares up 38 percent in extended trading.
Beauty
KKR-Backed Wella Aims for IPO as Haircare Market Recovers
Wella Co., the cosmetics maker owned by KKR & Co. and Coty Inc., plans an eventual initial public offering as demand from beauty salons for professional haircare products recovers.
Retail
Kohl’s Misses Holiday-Quarter Sales Expectations
US department store chain Kohl’s Corp missed quarterly sales estimates on Tuesday due to the Omicron variant surge and supply chain snarls during the holiday season.
Retail
Zalando Forecasts Online Fashion Sales Growth to Decelerate
The Berlin-based company signalled revenue may miss analysts’ estimates for 2022, predicting sales of €11.6 billion to €12.3 billion ($13.8 billion). Analysts had been expecting €12.2 billion.
Beauty
Beiersdorf Expects Skincare Market to Recover in 2022
German consumer goods company Beiersdorf said on Tuesday it expects sales to rise about 5 percent in 2022 after it reported a strong end to 2021 for its adhesives business, although its Nivea brand suffered due to Covid-19 lockdowns.
Global Markets
Thailand’s Central Retail Turns Around Bottom Line With Solid Fourth Quarter
The listed retail arm of Thai conglomerate Central Group says revenue rose by 15 percent year-on-year to 58.77 billion Thai baht ($1.8 billion) and EBITDA was up 42 per cent to 8.03 billion baht in its latest quarter.
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.