Business

Ralph Lauren Q4 revenue ahead of expectations, swings to profit

US fashion brand Ralph Lauren has beat revenue expectations in the fourth quarter of the year as it swung to a profit. In the quarter ended April 2, global revenue increased by 18 percent year-over-year on a reported basis to 1.5 billion dollars. Breaking it down by region, North American revenue increased 19 percent to 674 million dollars,...

4 hours ago

Fairs

Premium, Seek and FashionTech to return all under one roof

Trade shows Premium and Seek and conference event FashionTech will all be making their return this year, set to take place in Berlin Messe, Germany, with the addition of a new D2C festival, The Ground. The collective, operated by Premium Group, will all take place from July 7 to 9 for its return to the group’s home city of Berlin for the coming...

4 hours ago

Business

Mountain Warehouse launches outdoor marketplace

Mountain Warehouse has launched an online one-stop-shop for all outdoor clothing and equipment with a new third-party marketplace that it states will offer the business a “big step forward”. The Mountain Warehouse Marketplace comes 17 years after the UK website launched in 2005 and aims to offer customers an even greater range of choices when it...

6 hours ago

Fashion |Interview

Richard Quinn on designing the Creative Spot + British Fashion Council pop-up

London-born fashion designer Richard Quinn is one of the UK’s brightest fashion talents and a lot has happened since he presented his MA collection at Central Saint Martins in 2016. Quinn was the first recipient of the Queen Elizabeth II Award for British Design in 2018, even luring the Queen to London Fashion Week, and earlier this month he was...

8 hours ago

Business

Klarna to cut workforce by 10 percent

Buy now, pay later company Klarna has announced that it is cutting 10 percent of its workforce, citing weakening consumer confidence, surging inflation, a volatile stock market and the war in Ukraine. In a blog post, Klarna chief executive Sebastian Siemiatkowski said: “When we set our business plans for 2022 in the autumn of last year, it was a...

9 hours ago

Business

About You posts 48.5 percent sales growth, outlook positive

About You Holding SE reported year-on-year revenue and customer growth for FY 2021/2022, which ended on February 28, 2022. The company expects continued growth and an improved adjusted EBITDA in FY 2022/2023. The company said in a release that the group recorded top-line growth of 48.5 percent year-on-year to 1,731.6 million euros, despite the...

11 hours ago

Fashion

Why Nike designed a sneaker that is made to be disassembled

On Saturday, the Brooklyn Half Marathon was held in New York for the first time since the start of the pandemic. A young runner in his thirties collapsed after finishing the 13.1-mile race and was later pronounced dead from a suspected cardiac arrest. The man was one of sixteen people taken to the hospital that day, according to the FDNY, amid...

14 hours ago

Fashion

H&M Foundation unveils garments that capture CO2 from the air

Fashion group H&M’s non-profit H&M Foundation and The Hong Kong Research Institute of Textiles and Apparel (HKRITA) have unveiled cotton garments that can capture CO2 from the air and release it as nutrition for plants. The ‘Planet First’ programme from the two organisations has stated that the ‘Carbon Looper’ project could potentially be a “...

23 May 2022

More News

Fashion

Unlocking the Potential of Social Standards to Converge

IAF and ITMF have developed the Standards Convergence Initiative (SCI) to help identify the full potential of convergence across social standards and to reduce audit fatigue. The Standard Convergence Initiative (SCI) is an initiative of the International Apparel Federation (IAF) and the International Textile Manufacturers Federation (ITMF) with...

1 hour ago

Business

Takko Fashion's annual sales grow 11 percent

European fashion retailer Takko Fashion recorded net sales of over 1,046 million euros, up 11 percent for the 2021/2022 fiscal year, which the company said are almost at the pre-pandemic level. The company said in a statement that the fashion discounter based in Germany was able to continue catching up, after business closures due to the...

3 hours ago

Business

Abercrombie & Fitch reports Q1 loss, lowers outlook

For its first quarter, Abercrombie & Fitch Co. reported net sales of 813 million dollars, up 4 percent compared to last year. Gross profit rate of 55.3 percent, was down approximately 810 basis points. Operating loss was 10 million dollars and 6 million dollars on a reported and adjusted non-GAAP basis, respectively. The company’s net loss per...

4 hours ago

Business

Hyve Group says in-person events recovering faster than anticipated

Pure London organiser Hyve Group has reported a faster than anticipated recovery of its in-person events following the end of international lockdowns. The group, which also owns UK trade fairs Scoop, and Moda at Spring & Autumn Fair, reported revenue of 58.6 million pounds in the six months to March 31, up from 5 million pounds a year earlier....

6 hours ago