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The Business of Fashion

earnings

Retail

Walmart Maps Out Plan to Boost Market Share, Improve Efficiency

Walmart Inc.’s top executives predicted new market-share gains and showcased improvements in the retailer’s supply chain during two days of meetings, store visits and warehouse tours with financial analysts.

Luxury

Hermès Surfs Luxury Boom to €200 Billion Market Value

Hermes International, the maker of the iconic Birkin handbag, soared past €200 billion ($218 billion) in market value for the first time ever this week, surpassing Swiss drugmaker Novartis AG.

Retail

Levi's Tumbles on Restructuring Charge, Gross Margin Miss

Levi Strauss & Co. fell the most since October after it took a charge in the most recent quarter, part of a restructuring program that is expected to continue through 2023.

Beauty

Beiersdorf Raises 2023 Sales Outlook

Nivea maker Beiersdorf raised its full-year sales guidance on Wednesday, as it reported a 12.2 percent hike in preliminary organic group sales in the first quarter, driven by its consumer business unit.

Retail

Op-Ed | Yeezy Was Never Going to Save Gap. What Can?

It’s been nine months since Gap Inc. ousted its chief executive officer. Since then, it’s ended a once-promising partnership with Kanye West (a.k.a Ye), shaken up its executive ranks, delivered disappointing results and, so far, failed to name a successor.

Retail

Why Some Brands Are Thriving in a Tough Economy – and Others Aren’t

Consumers are getting pickier about where they shop as inflation and a cooling economy take their toll. Some of the biggest names in fashion and beauty no longer make the cut.

Beauty

Revlon Cleared to Exit Bankruptcy With $2.7 Billion on Debt Reduction Deal

A US judge on Monday approved Revlon Inc’s reorganization plan, allowing the cosmetics maker to cut $2.7 billion from its debt and exit bankruptcy later this month.

Retail

The Athleisure-fication of Everything

Demand for leggings and sweats may have peaked, but the pandemic’s comfort-first aesthetic is hardly dead. It’s simply mutating into something else: a yet-to-be-named category that incorporates stretch and softness into a staggering number of fashion staples, from trousers to jumpsuits.

Sustainability

H&M Aims for Faster, Stronger, Circular Business

The Swedish fast fashion giant posted a surprise profit in the first quarter, in part due to its increased stake in resale platform Sellpy. It offers a glimpse at how the company hopes to decouple its growth from impact.

Retail

H&M Posts Surprise Q1 Profit as Cost-Cutting Bears Fruit

Operating profit in the Swedish group’s fiscal first quarter was 725 million Swedish crowns ($69.73 million) against a profit of 458 million crowns a year earlier and a mean forecast of 1.10 billion loss in a Refinitiv poll of analysts.

Beauty

Bankrupt Morphe Owner Acquired by Lenders for $690 Million

Forma Brands, the bankrupt owner of the Morphe makeup brand, reached an agreement with lenders Jefferies Finance LLC and Cerberus Capital Management to be acquired in exchange for $690 million in debt relief, according to a court filing.

Retail

Next Dials Down Inflation Estimates

Next Plc shares plunged as the UK retailer warned of a challenging year ahead and repeated profit and sales will probably decline this year.

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