PR Agency CGC Launches Performance Media Division
Known for its premium beauty clients including Glossier and Hermès Beauty, the agency’s new division combines influencer marketing and AI insights.
earnings
Retail
JD Sports’ Profit to Top £1 Billion This Year
The group reported profit before tax and exceptional items for the year to Jan. 28 of £991.4 million.
JD Sports’ Profit to Top £1 Billion This Year
The group reported profit before tax and exceptional items for the year to Jan. 28 of £991.4 million.
Retail
Boohoo Profit Halves as Shoppers Face Squeeze
Boohoo said on Tuesday it made adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), its key profit measure, of £63.3 million ($79.9 million) in the year to Feb. 28, slightly ahead of analysts’ consensus forecast of £62.1 million but down from the £125.1 million made in 2021-22.
Boohoo Profit Halves as Shoppers Face Squeeze
Boohoo said on Tuesday it made adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), its key profit measure, of £63.3 million ($79.9 million) in the year to Feb. 28, slightly ahead of analysts’ consensus forecast of £62.1 million but down from the £125.1 million made in 2021-22.
Beauty
THG Shares Fall After Failed Takeover Talks With Apollo
THG has ended talks about a possible takeover bid by Apollo, saying the private equity company’s offer is an inadequate valuation of the online retail tech company.
THG Shares Fall After Failed Takeover Talks With Apollo
THG has ended talks about a possible takeover bid by Apollo, saying the private equity company’s offer is an inadequate valuation of the online retail tech company.
Sports
Adidas Will Sell Its Yeezy Inventory
At its annual meeting Thursday, the company confirmed plans to sell its remaining stock of Yeezy sneakers rather than destroy the merchandise. Adidas also told investors that an investigation into Ye’s workplace misconduct did not substantiate claims of harassment.
Adidas Will Sell Its Yeezy Inventory
At its annual meeting Thursday, the company confirmed plans to sell its remaining stock of Yeezy sneakers rather than destroy the merchandise. Adidas also told investors that an investigation into Ye’s workplace misconduct did not substantiate claims of harassment.
Luxury
Tapestry Lifts Forecast as Coach Bags Defy US Luxury Gloom
Tapestry Inc raised its annual profit forecast on Thursday, betting that price increases, strong demand for its Coach handbags and a sharp rebound in China would shield it from a wider slowdown in US luxury purchases.
Tapestry Lifts Forecast as Coach Bags Defy US Luxury Gloom
Tapestry Inc raised its annual profit forecast on Thursday, betting that price increases, strong demand for its Coach handbags and a sharp rebound in China would shield it from a wider slowdown in US luxury purchases.
Luxury
Prada’s Q1 Revenues Jump 22 Percent, Surpassing €1 Billion
Prada reported a strong rebound in Asia and shook off fears of a US slowdown.
Prada’s Q1 Revenues Jump 22 Percent, Surpassing €1 Billion
Prada reported a strong rebound in Asia and shook off fears of a US slowdown.
China
JD.com Beats Estimates for Quarterly Revenue
US-listed shares of the Beijing-based company rose nearly 4 percent in trading before the bell.
JD.com Beats Estimates for Quarterly Revenue
US-listed shares of the Beijing-based company rose nearly 4 percent in trading before the bell.
Direct-to-Consumer
At Warby Parker and Allbirds, Signs of Progress
The eyewear maker’s results were consistent with its recent outings. Sales rose 12 percent year-over-year in the first quarter of the year on the strength of its growing store fleet. It also decreased its losses by $23 million and increased its adjusted earnings before interest and taxes by $17 million.
At Warby Parker and Allbirds, Signs of Progress
The eyewear maker’s results were consistent with its recent outings. Sales rose 12 percent year-over-year in the first quarter of the year on the strength of its growing store fleet. It also decreased its losses by $23 million and increased its adjusted earnings before interest and taxes by $17 million.
Retail
ThredUp and The RealReal Inch Closer to Profitability
Despite making progress on their respective profitability goals, investors for both online resale sites were hardly impressed Tuesday afternoon when the companies reported first-quarter earnings.
ThredUp and The RealReal Inch Closer to Profitability
Despite making progress on their respective profitability goals, investors for both online resale sites were hardly impressed Tuesday afternoon when the companies reported first-quarter earnings.
Workplace & Talent
Robert Triefus Appointed Stone Island CEO
After nearly 15 years at Gucci, the executive will join the Moncler Group-owned Italian label on June 1.
Robert Triefus Appointed Stone Island CEO
After nearly 15 years at Gucci, the executive will join the Moncler Group-owned Italian label on June 1.
Retail
Zalando Nears Break Even in Quarter Amid Profitability Push
The Berlin-based e-commerce platform reported an adjusted loss before interest and taxes of €700,000 ($776,000) for the period, Zalando said in a statement Thursday.
Zalando Nears Break Even in Quarter Amid Profitability Push
The Berlin-based e-commerce platform reported an adjusted loss before interest and taxes of €700,000 ($776,000) for the period, Zalando said in a statement Thursday.
Luxury
Hugo Boss Lifts Profit Outlook After Q1 Sales Jump
The company expects its operating profit (EBIT) to rise between 10 percent and 20 percent to €370-400 million ($410-$443 million) in 2023, compared with the previously expected 5 percent to 12 percent growth.
Hugo Boss Lifts Profit Outlook After Q1 Sales Jump
The company expects its operating profit (EBIT) to rise between 10 percent and 20 percent to €370-400 million ($410-$443 million) in 2023, compared with the previously expected 5 percent to 12 percent growth.
The News in Brief
The Commercial Case for Cooling Bangladesh’s Garment Factories
Investments to reduce heat stress for garment factory workers can pay for themselves within four years, a new report from Cornell University's Global Labor Institute finds.
Botswana Seeks Bigger De Beers Stake
Diamonds have underpinned the African country's economy since their discovery there in 1967.
Converse CEO Pledges Review Over Ad Critics Say Evoked KKK
The head of Converse promised to review internal processes and told employees he will make any necessary changes in an internal memo seen by Bloomberg.
Model Presley Gerber, Cindy Crawford’s Son, Dies Aged 27
The model had spoken publicly about a years-long struggle with depression and addiction.
Asos Names Law Roach ‘Stylist in Residence’
Online fashion retailer Asos has brought on celebrity stylist Law Roach to bring his creative lens and styling approach to its campaigns and recently relaunched magazine.
Boohoo’s New Chairman Stirs Controversy as Broker Drops Coverage
The online clothing retailer, which rebranded as Debenhams Group last year, said Friday that Iain McDonald had taken over from Tim Morris with immediate effect in a move aimed at ‘rebuilding equity value.’
Luxury Perfume Line Roja London Acquired by Extravaganza Beauty
Master perfumer and founder Roja Dove will remain with the brand in a new consultancy role.