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The Business of Fashion

earnings

Retail

H&M Slips Out of Fashion as First Quarter Sales Lag

The Swedish group said sales measured in local currencies for the period, its fiscal first quarter, rose 3 percent from a year earlier.

Retail

Tod’s Group Sees Strong Start to 2023

Tod’s chairman and chief executive Diego Della Valle said the Italian luxury group, which owns Tod’s, Roger Vivier, Hogan and Fay, has had a good start to the year, after the company produced better-than-expected operating profits in 2022.

Beauty

Ulta Beauty Full-Year 2022 Revenue Tops $10 Billion

The American beauty retailer’s sales for 2022 increased 18.3 percent to $10.2 billion, from $8.6 billion in 2021 and $7.4 billion in 2019, pre-pandemic.

Retail

Allbirds Stock Plummets After Shoe Brand ‘Deteriorated Quickly’

Allbirds Inc. sold investors on a growth story when the sneaker brand went public less than 18 months ago. Those sales gains disappeared in the fourth quarter, tanking its stock.

Retail

Superdry Hires Turnaround Specialist in Cash-Saving Push

Struggling fashion brand Superdry has hired turnaround and restructuring firm Interpath as it battles to cut costs following a series of profit warnings.

Retail

Gap Sees Weak Annual Sales as Inflation-Hit Consumers Rein in Spending

Gap Inc on Thursday forecast full-year sales below Wall Street estimates, signaling a slowdown in demand as inflation-weary consumers curb discretionary spending.

Retail

Mango’s Sales Hit Record as Zara’s Rival Expands in US, India

Spanish fashion retailer Mango's sales hit a record €2.68 billion ($2.8 billion) last year, exceeding pre-pandemic levels by 13 percent as shoppers kept spending on clothing amid high inflation and as the company expanded in the United States and India.

Luxury

Inside Prada’s Best Year in Business

The Milanese group, which also owns Miu Miu and Church’s, leveraged a partnership between Miuccia Prada and Raf Simons to generate record sales. A Thursday presentation gave investors a first peek at Prada’s future plans under new leadership.

China

China’s JD.com Misses Estimates for Quarterly Revenue

Chinese e-commerce firm JD.com Inc narrowly missed estimates for fourth-quarter revenue on Thursday as Covid lockdowns in the country fueled economic uncertainty and pressured spending.

Luxury

Hugo Boss Sees Slowing Sales in 2023

German fashion house Hugo Boss on Thursday said it expected 2023 sales to grow at a mid-single-digit percentage rate, slower than last year even as it sees sales improving in the Asia and Pacific region.

Retail

Macy’s Forecasts Full-Year Profit Above Estimates

Macy’s Inc forecast full-year profit largely above Wall Street estimates on Thursday, as the department store operator looks to cut back on promotions to protect its margins.

Retail

Primark Owner Raises Outlook on Consumer Resilience

The group said Primark had traded “well ahead” of expectations, with sales in the first half to March 4 expected to be £4.2 billion ($5.0 billion), up 16 percent at constant currency, with adjusted operating profit margin now expected to be above 8 percent.

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