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Walmart on Trump tariffs: our costs are rising every week

US President Donald Trump's import tariffs are increasingly affecting supermarket giant Walmart. Chief executive officer Doug McMillon stated in a conference call following the release of quarterly figures that Walmart's costs have been increasing "every week" when replenishing stock. He expects this trend to continue in the current quarter and...

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E-commerce surge lifts Walmart's Q2, outlook raised

Walmart Inc. announced its second-quarter fiscal year 2026 results, highlighting revenue growth across all business segments. The company reported total revenue of 177.4 billion dollars, a 4.8 percent increase, or 5.6 percent on a constant currency basis, compared to the same period last year. The company has raised its full-year earnings and...

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Delta Galil lowers full-year financial guidance amid tariff concerns

Delta Galil Industries, a global designer and manufacturer of branded and private-label apparel, has reported its financial results for the second quarter ended June 30, 2025. The company's sales for the quarter remained stable at 470.1 million dollars, consistent with the previous year's quarter. For the first half of 2025, sales increased by 5...

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Rent the Runway announces debt restructuring and new investment

Rent the Runway, a fashion rental company, has announced a "growth recapitalization" transaction that is expected to significantly strengthen its financial position. The deal involves a substantial reduction in the company's debt, a decrease in interest expenses, and a favourable maturity extension on its remaining debt. As part of the...

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LVMH's Loro Piana: After the scandal, what are the consequences for the sector and investors?

LVMH Group once again found itself in turmoil when its Italian subsidiary Loro Piana, a house renowned for its cashmere and understated luxury, was placed under court supervision by the Milan Court last month. This exceptional decision highlights the excesses of an outsourcing system too often out of control, already singled out in other similar...

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Saks cuts 90 jobs amid latest cost-cutting efforts

Luxury department store Saks is reported to have slashed 90 jobs among its workforce, building on wider cost-cutting efforts already underway at the retailer. According to WWD, which cited an internal memo received via an anonymous source, individuals within Saks’ commercial organisation were largely among those impacted, including the...

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Business|CEO Interview

Premiumisation and North American expansion mark PdPaola's 10 years

On the verge of celebrating its tenth anniversary, the Spanish jewellery firm PdPaola, created by siblings Paola and Humbert Sasplugas, is at a decisive moment in its global evolution. Under the leadership of Jason McNary, appointed CEO of the North American subsidiary in August 2024, the company has completed its first year of operations in the...

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Authentic Brands Group to acquire intellectual property rights of Guess

The US fashion and media group Authentic Brands Group LLC has acquired another prominent fashion brand. On Wednesday, the company announced it had signed a binding agreement to assume control of Guess’s intellectual property rights. The acquisition is "another important milestone" for Authentic, the group stated. With global annual brand...

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UK retailers lean on own websites as margins tighten

New research from Shopify suggests UK retailers are turning to their own ecommerce websites as the most reliable route to resilience in a strained retail environment. According to the Global Business Pulse Survey, 52 percent of UK retail decision-makers say their own website gives them the greatest control over operations, ahead of marketplaces...

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Seasalt reports an “impressive” 2024 with revenue up 13 percent

Contemporary Cornish clothing and lifestyle brand Seasalt has reported revenues of 150 million pounds for the year ending February 1, 2025, up 13 percent year-on-year, as it continues to drive sales in stores and internationally. Seasalt said that revenues have now grown by over 50 million pounds over the last three years and have doubled in...

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Claire's to sell North American operations amid bankruptcy proceedings

Claire's Holdings LLC, the operator of Claire's and ICING stores in the U.S. and Gibraltar, has entered into an agreement with an affiliate of Ames Watson, a private holding company, for the acquisition of its North American business operations. This move follows the company's decision to begin Chapter 11 bankruptcy proceedings in the U.S., as...

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Manolo Blahnik’s revenues hit by shift towards direct-to-consumer

Luxury footwear and accessories brand Manolo Blahnik has reported that its strategic shift towards a more direct-to-consumer (D2C) focused model has led to lower revenues in 2024, while also being its third-best year of sales to date. Revenues at the luxury footwear brand dropped 19 percent year-on-year to 86.4 million euros (74.5 million...