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The Business of Fashion

earnings

Luxury

Capri Raises Full-Year Profit Forecast

Shares of the company, which owns Versace and Jimmy Choo, rose about 6 percent to $51.51 in premarket trading.

Luxury

Farfetch Slashes Its Outlook For the Year

The online luxury platform significantly scaled back its expectations for sales in 2022, as the loss of its Russia business and other factors have taken a toll.

Retail

Gap Slashes Annual Forecasts as Inflation Drains Demand; Shares Plunge

Gap Inc. cut its annual sales and profit forecasts on Thursday, becoming the latest US retailer to come under pressure from soaring costs and poor demand in the face of decades-high inflation.

Retail

Macy’s Lifts Profit Outlook as Special Occasions Boost Sales

Higher pricing, lower promotions and changing shopping habits boosted margins in the three months ended April 30 and helped Macy’s blow past earnings estimates in the quarter.

Retail

Ted Baker Annual Loss Narrows as Pre-Covid Lifestyles Return

Ted Baker’s underlying pretax loss for the 52 weeks ended Jan. 29 stood at £38.4 million ($48.34 million) compared with a loss of £59.2 million a year ago, with sales in the first quarter of the current year rising 20 percent year-over-year.

Retail

Nordstrom Defies Retail Slump With Higher Results Forecast, Shares Jump

Nordstrom Inc. raised its annual profit and revenue forecasts on Tuesday as the upscale retailer counts on demand from affluent consumers to help it overcome decades-high inflation.

Luxury

Ralph Lauren Forecasts Full-Year Revenue Above Estimates

The spending power of higher-income customers has stayed unaffected by inflation in prices of essentials, and they are now splurging on fashion as they attend more social events with a broader easing of Covid-19 restrictions across the globe.

Retail

Abercrombie Sees Weaker Sales, Margins as Inflation Bites

Abercrombie & Fitch Co trimmed its full-year sales forecast on Tuesday as record-high inflation hits demand for the retailer’s jeans, tops and dresses, sending its shares down 18 percent in premarket trade.

Luxury

Chanel to Open Private Stores for Top Clients as Sales Soar 50%

The French luxury giant said 2021 revenues rose 23 percent over pre-pandemic levels to $15 billion. The brand now plans to open dedicated boutiques for top-spending clients as rapid growth risks overcrowding its stores, CFO Philippe Blondiaux revealed.

Retail

Kohl’s Becomes Latest Retailer to Warn of Inflation Pain

Demand at Kohl’s department stores, which dedicate most of the shelf space to products such as apparel, “considerably weakened” in April as consumers started to feel the pinch of soaring prices, Kohl’s chief executive Michelle Gass said.

Luxury

Canada Goose Forecasts Annual Profit Above Estimates on Strong Luxury Goods Demand

Demand for luxury goods has remained strong in North America even amid record levels of inflation, as higher prices of gas and food did not dissuade affluent consumers from splurging on high-end apparel, accessories and perfumes.

China

JD.com Beats Quarterly Revenue Estimates on Increased E-Commerce Demand

The resurgence of Covid-19 in the world’s second-largest economy and its strict lockdown regulations have revived online sales demand, helping e-commerce companies return to growth seen during the early stages of the pandemic.

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