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The Business of Fashion

earnings

Luxury

Will Burberry Take a New Direction?

This week, with luxury in the spotlight, everyone will be talking about Burberry and Richemont's annual results.

Retail

Shein’s Breakneck Growth Slows, Testing $100 Billion Valuation

While revenue last year was overall in line with company expectations, what worries Shein’s top executives is that expansion was strong in the first half of the year, but decelerated at a worse-than-expected pace in the second half, with the slowdown continuing into 2022.

Luxury

Tapestry Cuts Profit Forecast as China Lockdowns Bite

Tapestry said sales in China fell by a mid-teens percentage in the third quarter.

Luxury

Tod’s Says China Lockdowns Won’t Derail 2022 Results

Italian luxury shoe maker Tod’s sees analysts’ expectations for 2022 sales and profitability as achievable despite a marked slowdown in China due to widespread Covid-19 restrictions, its finance chief said.

Retail

Why Brands Are Racing Into Resale — in Five Charts

Hundreds of fashion companies are looking to build their own resale channels, giving rise to a new class of B2B start-ups that aim to help them navigate the nascent industry.

Beauty

Coty Lifts Annual Profit Forecast on Resilient Demand for Luxury Cosmetics

Revenue at Coty’s prestige division, that houses cosmetics and fragrances from the Hugo Boss, Gucci and Burberry brands, rose 21 percent to $726.4 million for the third quarter ended March 31.

Technology

Can Meta Make Wearable Technology Happen?

This week, everyone will be talking about Meta’s new store and its Ray-Ban smart glasses, plus the selloff in tech stocks that has hurt the prospects of fashion’s unicorns.

Global Markets

Reliance Industries Posts 22.5% Higher Fourth-Quarter Profit

Even as Reliance has diversified its businesses over the years to retail, telecom and recently green energy, the conglomerate’s oil-to-chemicals (O2C) operations continue to account for a bulk of its revenue.

Retail

Under Armour Profit View Hit by Supply Chain Issues, China Lockdowns

Shares of Under Armour were down about 3 percent in premarket trading after the company reported bleak quarterly sales. They shed nearly 33 percent this year.

Retail

Zalando Posts First Decline in Sales Since Founding

First-quarter sales fell by 1.5 percent, to €2.2 billion ($2.33 billion), after posting a 46.8 percent increase in the same quarter last year thanks to the coronavirus pandemic.

Retail

Next Maintains Full-Year Guidance

Next, which trades from about 500 stores and online, said on Thursday its full price sales rose 21.3 percent in the 13 weeks to April 30, its fiscal first quarter, driven by a very weak comparative in 2021 when most of its stores were closed in a Covid-19 lockdown.

Luxury

Moncler Sales Beat Expectations in First Quarter

First quarter sales at Italian fashion group Moncler jumped by 60 percent, beating once again analysts expectations, driven by a strong performance in China that offset new Covid-19 restrictions, as well as a surge in US and online sales.

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