Asos Customers Receive ‘Hack’ Notification Threatening Leak
The retailer is investigating after users of its mobile app received a notification claiming hackers had ‘fully compromised’ company data.
earnings
Luxury
Richemont, Burberry Signal That Luxury Market Is Thriving Again
Richemont had its fastest holiday season sales growth in at least a decade and Burberry Group Plc forecast 35 percent earnings growth this year, the latest signs that the luxury-goods market is thriving again.
Retail
THG Forecasts Slower Growth After Profit Misses Estimates
THG Plc warned that profitability missed analysts’ estimates and forecast sales growth will decelerate this year amid record commodity prices and continued uncertainty from the pandemic.
Luxury
Hugo Boss Exceeds 2021 Sales Target After Strong Q4
Hugo Boss said that it had exceeded its full year sales targets after fourth quarter earnings helped propel the German fashion house back to nearly pre-pandemic levels.
Global Markets
Baltic Retail Giant Apranga Sees Turnover Grow 12% in 2021
The Lithuanian-based company is the largest apparel trading group in the Baltic states, and is controlled by MG Baltic Group, an investment company.
Retail
M&S Nudges up Outlook After Strong Christmas
M&S said it now expected full-year profit before tax and adjusted items to be at least £500 million.
Retail
Uniqlo Owner’s Profits Boosted by Overseas Surge as Japan Sales Fall
Japan’s Fast Retailing, owner of clothing brand Uniqlo, said on Thursday overseas markets powered profit growth in the first quarter, even as sales declined at home and in China.
Retail
Asos Hit by Supply Chain Disruption, Volatile Christmas Demand
Asos reiterated its already downgraded outlook on Thursday after supply chain constraints and volatile demand limited sales growth in its four months to Dec. 31 trading period.
Retail
JD Sports Lifts Outlook as Shoppers Splash Out on Sportswear
JD Sports Fashion raised its annual profit forecast for the second time in four months as shoppers splashed out on sportswear during the holidays and US consumers spent their stimulus cheques on the latest trends.
Retail
American Eagle Signals Weak Revenue Growth in Holiday Quarter
American Eagle Outfitters Inc signalled its revenue growth in the holiday quarter was hampered by supply chain snarls and disruptions caused by the Omicron surge.
Retail
Pandora Posts Q4 Results Above Forecast
Danish jewellery maker Pandora said on Monday preliminary results showed record sales in the fourth quarter, fuelled by a strong US market.
Retail
Lululemon Falls After Warning Omicron to Hit Sales, Earnings
Lululemon Athletica Inc. shares tumbled after the company warned that financial results will come at the low end of previous guidance, saying the Omicron coronavirus variant was constraining its operations.
Luxury
Victoria Beckham Halved Losses During 2020
The former pop singer's beauty line helped stem a downturn in fashion sales.
The News in Brief
L’Oréal Explores Unloading Chemical-Related Liabilities
The French company has engaged restructuring advisers to explore options for rising US legal liabilities linked to its use of talc and other chemical ingredients in some of its cosmetic products, the Wall Street Journal reported on Monday.
Indian Fast-Fashion Retailer Trent Jumps on Strong Sales Growth
Shares in the Tata Group-owned business rose nearly 11 percent on Tuesday as the success of a rapid store expansion project boosted confidence in the company’s growth outlook.
Naomi Campbell Wins Appeal Against Charity Trustee Ban
A London tribunal ruled that the misuse of funds at the charity the supermodel founded had been concealed from her.
Dutch Eyewear Chain Hans Anders Halts Sale of Meta Glasses, Citing Privacy Concerns
A growing Dutch outcry over the glasses mirrors a broader backlash against smart glasses equipped with cameras.
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.
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.