Frasers Group Steps Up Luxury Push With New Division, Larger Burberry Stake
The British retail group has brought its stakes in Burberry, Hugo Boss and Mulberry together with its luxury retail operations.
earnings
Retail
Inditex Nine Month Net Profit More Than Triples to $2.8 Billion
The world’s biggest fashion retailer said that its sales in recent weeks were up by a third on the same period last year and ahead of levels seen in 2019 before the pandemic.
Retail
H&M Quarterly Sales Rise 8%, Returning to Pre-Pandemic Level
The world’s second-biggest fashion retailer, reported on Wednesday an increase in September through November sales that was in line with expectations.
Global Markets
Discount Retail Giant Pepco Group Sees Full-Year Profit Rise 46%
The group said it made underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of €647 million ($730 million) in the year to Sept. 30.
Fashion Week
Omicron May Throw a Wrench in Fashion Week Plans
This week, everyone will be talking about how the Omicron variant will affect fashion’s busy events calendar, and Zara owner Inditex’s latest results.
Global Markets
Russian Retailer Gloria Jeans Sees Revenue Grow 40%
The high street retail giant, made 42.7 billion roubles ($578 million) in the first nine months of 2021.
Luxury
Versace on Pace to Meet Target Sooner Than Expected
The chief executive officer of Capri Holdings Ltd. said he is optimistic about the outlook for the company’s three brands — especially Versace.
China
China’s Pinduoduo Revenue Disappoints as Pandemic-Led Shopping Boom Wanes
The Chinese e-commerce platform is facing a challenging environment as shoppers have returned to stores and Chinese authorities are cracking down on large tech companies.
Global Markets
Russia’s Melon Fashion Group Sees Revenue Grow 66%
The Saint Petersburg-based fashion conglomerate's revenues for the first nine months of this year have already surpassed total revenues for full-year 2020.
Retail
Mall Brands Plunge as Gap, Nordstrom Add to Worries
Mall staples Gap Inc. and Nordstrom Inc. tumbled after reporting disappointing results, adding to a series of worrisome retail earnings and renewing concerns over the global supply chain crisis.
Retail
American Eagle Outfitters Holiday Inventory Balloons, Sales Impress
American Eagle Outfitters Inc said on Tuesday its inventory levels jumped ahead of the holiday season as it spent more on air freight to overcome supply chain disruptions, after posting better-than-expected quarterly results.
Global Markets
South Africa’s Budget Fashion Giant Sees Profits Surge
South African retailer Pepkor Holdings on Friday reported a 115.2 percent jump in annual earnings, rebounding from a low base in 2020 when it was hit by coronavirus lockdown restrictions.
Retail
Retailers Have Sky-High Expectations for Black Friday. Will Shoppers Show Up?
This week, everyone will be talking about Black Friday, earnings from Abercrombie & Fitch and other mall brands, plus House of Gucci
The News in Brief
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.
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.