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.
Need Supply, Totokaelo to Close
Parent company NSTO said the multi-brand fashion retailers, which operate stores in New York, Seattle and Richmond, Va., would wind down operations over the next several months.
Gap Taps Into the Surging Corporate Demand for Face Masks
The US retailer has sold around 10 million of the non-medical grade face masks and requires a minimum of 100,000 masks per order.
Weakened Demand at Stores Signals More Trouble for Garment Suppliers
With retailers looking to sell old inventory and seasonless basics, new orders for factories in garment hubs like Bangladesh are down by as much as 45 percent compared to last year.
Boohoo to Stop Working With Suppliers That Don't Meet Standards
An early investigation revealed the factory in Leicester, which came under fire for paying workers as little as $4.38 an hour, was not a declared supplier and was no longer trading as a garment manufacturer.
Can Roger Federer Help Build the Next Big Sportswear Brand?
The tennis legend and cult running shoe label On are launching a sneaker together. In the latest edition of the BoF Podcast, Federer shares what's next.
Case Study | How Lululemon Built Athleisure’s Leading Brand
As much of the fashion industry scrambled to survive the Covid-19 crisis, the activewear label’s share price rose to an all-time high. How did Lululemon come to dominate the age of athleisure, prosper through the early days of the pandemic and solidify its position as one of the world's most powerful apparel brands?
Lucky Brand Files for Bankruptcy After the Pandemic Forces Closures
The US clothing retailer, who said it will continue to operate during the Chapter 11 process, plans to sell the company to Aéropostale and Nautica owner.
Harrods Debuts Outlet Following News of Job Cuts
The opening of the outlet comes in the same week the department store confirmed that 600 to 700 of its 4,800 employees would lose their jobs.
Reality Check: Fashion’s Crisis Is Far From Over
This week, brands and retailers made a series of grim announcements as lingering hopes for a V-shaped recovery from the Covid-19 crisis evaporated.
Primark’s Sales Bounce Back After Stores Reopen From Lockdowns
Even so, the fast fashion retailer expects to generate £350 million ($437 million) in operating profit this year, compared with £913 million last year.
Boohoo to Investigate Supply Chain Practices After Health Report
A garment workers' rights group accused the fast fashion e-tailer of putting workers at Leicester factories at risk of coronavirus infection.
Diesel CEO Seeks to Revive 90s Success With Slimmed Down Brand
Massimo Piombini plans to close stores, raise prices and expand in sneakers to revamp the denim brand.
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.