Shein Shares Sink to Record Low After Profit Plunge
The ultra-fast-fashion giant’s share price fell 12 percent after it reported a steep drop in first-half operating income in its inaugural earnings as a public company.
Retail
Analysis and advice from the front lines of the retail transformation.
Investor Drops Boohoo Shares Over Garment Worker Allegations
Standard Life Aberdeen, previously one of Boohoo's biggest investors, said the fast fashion group's response to reports of factory worker abuse was 'inadequate in scope, timeliness and gravity.'
Why Fashion ‘Slavery’ Is Making Headlines
Fashion’s mistreatment of garment workers is widespread, but this week, allegations of ‘modern slavery’ at suppliers of British ultra-fast fashion label Boohoo have ignited a firestorm. Why now?
Muji USA Files for Chapter 11 Bankruptcy
Even before the pandemic hit, the Japanese retailer's US unit had been operating at a loss for the past three fiscal years.
How the Wholesale Crisis Could Benefit Independent Fashion Brands
Post-pandemic, a further shift away from wholesale by bigger labels could benefit emerging brands. But there will be a sting in the tail for some.
The BoF Podcast: Farfetch’s José Neves Says Profitability Is Still Possible in 2021
The luxury marketplace’s founder and chief executive talks to BoF’s Imran Amed about Covid-19 setbacks, pivots and what’s next.
John Lewis Set to Close Eight Stores and Cut 1,300 Jobs
The move follows as the British department store chain focuses on e-commerce, which is set to represent around 60 to 70 percent of its total sales this year and next.
Fast Retailing Predicts 50% Annual Profit Decline Due to Covid-19
Despite its recent forecast, the company saw Uniqlo's same-store sales rise 26 percent in June from a year earlier.
How to Reach Customers Who Still Don't Like Shopping for Clothes Online
Millions of consumers — particularly older ones — say they may not shop in stores until there’s a coronavirus vaccine. Many aren't big fans of e-commerce, either. Here’s how to keep them spending.
Why Boohoo’s Remarkable Run Came to a Crashing Halt
The British fast fashion juggernaut’s ambitions to build an empire that could compete with the giants behind Zara and H&M was gaining ground this year. But allegations of poor working conditions in its factories have raised questions about its future.
Report: Ann Taylor Owner Prepares for Potential Bankruptcy Filing
Ascena Retail Group could enter Chapter 11 as soon as this week with a creditor agreement in place that eliminates around $700 million of its $1.1 billion debt load.
Levi Strauss Warns of Weak Sales Growth in Second Half of 2020
The denim brand reported a 62 percent drop in net revenue in the second quarter and said it will cut 700 jobs in order to save $100 million annually.
COS: From ‘High Street Céline’ to Stagnation
H&M’s upmarket sister brand was once a proof point for the Swedish group’s ambitions to diversify away from its core fast-fashion business. But COS executives have struggled to keep pace with a shifting market while managing a troubled internal culture.
THE NEWS IN BRIEF
H&M Profit Rises on Tariff Refunds as Sales Remain Sluggish
US tariff refunds drove an increase operating profit, even as the fast-fashion retailer has struggled to deliver consistent sales growth.
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.’
UK Retail Sales Bounce Back With 0.5% Gain in August
Warm weather and a brighter national mood helped lift spending on clothing and household goods despite rising energy bills.
Authentic Brands Targets Creator Economy, Eyes Public Offering
The licensor could pursue an IPO as early as the first half of next year.
JD Sports Names New North America CEO, Chief Marketing Officer
The sneaker retailer is shaking up its North American leadership as it looks to reverse soft sales and an extended slump in the stock market.
Top Africa Clothes Retailer Pepkor Sinks on Earnings Outlook
Shares in the South African discount clothing retailer fell the most in more than three years, as an expansion into banking weighed on profit forecasts.