Meta Expected to Unveil Smart Glasses Without Camera
Smart glasses have become a target of criticism in recent months amid growing concerns they can be used to record people without their consent.
earnings
Retail
The Organised Retail Crime Phenomenon, Explained
Reports of large-scale theft rings are driving US lawmakers to explore tough-on-crime policies. Data on whether there is a crime wave paints a more ambiguous picture. BoF unpacks the murky situation.
Luxury
Hong Kong’s Biggest Mall Amps Up Luxury Appeal to Compete for Shoppers
The long lines of customers outside Chanel and Louis Vuitton stores on Hong Kong’s Canton Road are finally back, and the city’s biggest mall operator is trying to get them to spend like before.
Retail
Next Raises Profit Outlook on Better Weather, Consumers’ Wage Hikes
The group said it had beaten its full price sales estimates by £93 million ($119 million) in the period.
Retail
Hugo Boss Raises 2025 Sales Target
German fashion house Hugo Boss on Thursday raised its 2025 sales target, betting on strong demand across its markets as it proved immune to weaker US consumer sentiment.
Retail
H&M Reports Weaker-Than-Expected Q2 Sales
H&M posted slightly weaker-than-expected fiscal second-quarter sales on Thursday, but prospects for a better third quarter after a strong start in June sent shares in the Swedish retailer up by 6 percent.
Retail
Asos Sales Fall 14 Percent in Latest Quarter as Firm Prioritises Profit
British online fashion retailer Asos on Thursday reported a 14 percent drop in quarterly revenue but said its new strategy was starting to work as it returned to profitability, sending its battered shares higher.
Retail
US Retail Sales See Unexpected Growth
US retail sales unexpectedly rose in May, showcasing resilient consumer demand in the face of mounting economic challenges.
Retail
Fashion Retailers Resilient Despite Consumer Fears
A strong start to June for the world’s second-biggest fashion retailer H&M, an optimistic outlook from Hugo Boss and a return to profitability at Asos helped allay concerns over a sector hit by weakening US demand.
Global Markets
Why Fashion Is Betting Big on Saudi Arabia
The kingdom is set to drive growth for the industry as its economy booms, social reforms reshape consumer culture and futuristic cities sprout from the desert.
Sports
Supreme Revenue Declined in Financial Year Ended March 2023
New-York based streetwear giant Supreme generated revenues of $523.1 million for the year ended March 2023, down from $561.5 million in the same period the year before, according to parent company VF. Corp’s annual report. Net income also decreased to $64.8 million, down from $82.4 million the year before.
Retail
Rent the Runway Sees Rising Workwear Demand, Trims Discounts
Rent the Runway Inc. said demand for workwear has been surging as more subscribers are going to the office more regularly, underpinning stronger-than-expected revenue growth in the most recent quarter.
Retail
Neiman Marcus Earnings Hit by Steep Discounts
Neiman Marcus’s third-quarter earnings declined as the retailer was forced to offer more promotions to contend with weaker demand for luxury goods, according to people with knowledge of the closely held firm’s financial results.
The News in Brief
Record Global Fibre Production Pushes Fashion’s Environmental Footprint Higher
Planet-warming emissions associated with the raw materials used to make fashion, footwear and home textiles have risen 30 percent since 2019, according to a new report.
Novo Nordisk Looks to Target Hair Loss in Consumer Push
The maker of Ozempic and Wegovy seeks to expand its direct-to-consumer pharmaceutical business as rival Eli Lilly outpaces in weight-loss drugs.
On Targets High-Teens Growth Through 2029
The Swiss brand revealed its plan to keep up its momentum with new products in sports such as golf and its Mbappé-supported entry into football ahead of its investor day Tuesday.
Reference Festival to Host ‘Freie Kunst’ Event at Art Basel Paris
The event runs from Oct. 22 to 25 and will mix participants from art, fashion, music and technology as part of the festival’s tradition of a ‘radical and unhinged exchange of ideas,’ said Mumi Haiati, founder of the event’s organiser Reference Studios.
Amazon Blocks Meta’s Muse AI Agent From Its Retail Site
The e-commerce giant prohibits other companies from deploying automated tools to shop its site and started blocking Meta’s Muse on Sunday night.
Dior to Host Cruise Show in Shanghai
The LVMH-owned megabrand will show its Cruise 2028 line in the Chinese fashion capital on May 14, 2027.
Oura Seeks $2.2 Billion in US IPO
The smart ring maker plans to market 50 million shares for $40 to $44 each, according to filings, which could value the company as high as $14.1 billion.