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Business

Esprit sees revenue drop 24 percent

Sales at Esprit have plummeted during the pandemic, as the company posted a 23,65 percent drop in revenue. After a promising start to the year, the Hong Kong based retailer saw a tangible shrinking of its sales and profits. The group recorded revenues of 9.87 billion Hong Kong dollars (approximately 1.07 billion euros), with gross profit down...

8 hours ago

Business

H&M to close 250 stores amid digital shift

H&M has revealed that their profit more than halved year-on-year in the three months to the end of August to 1.8 billion Swedish krona, and has announced plans to close around 250 stores next year as it focuses on digital channels. The group’s net sales in the third quarter decreased by 16 percent in local currencies to 50.87 billion krona,...

11 hours ago

Business

Pronovias Group teams up with BCRF the fight against breast cancer with the action #PronoviasPink

Pronovias Group, the world leader in the luxury bridal sector, presents #PronoviasPink, an international action in which the company is teaming up with the most prestigious associations and foundations in each country working in the global fight against breast cancer. #PronoviasPink consists of raising funds through the donation of the total...

14 hours ago

Business

American Eagle Outfitters appoints Steven Davis as an independent director

American Eagle Outfitters appoints Steven Davis as independent director American Eagle Outfitters, Inc. has appointed Steven A. Davis to the company’s board of directors as an independent director, effective October 1, 2020. The company said in a statement, this appointment expands its board to nine directors, including eight independents and...

30 Sep 2020

Business

Studio Retail Group half-year product sales up 39 percent

British retailer Studio Retail Group, formerly called Findel, has reported a 39 percent increase in product sales in the first half of the year. The group said its core business, Studio, has seen “strong retail trading performance in the early weeks of its new Autumn/Winter season”, with its kidswear, gifting and early Christmas ranges...

30 Sep 2020

Business

The Hut Group acquires skincare brand Perricone MD

Online retailer The Hut Group (THG) has acquired US skincare brand Perricone MD for 60 million dollars. Founded in 1997, Perricone MD is a topical skincare brand with approximately 100 product patents. It will now join THG’s beauty portfolio of own brands, including ESPA, Christophe Robin, Grow Gorgeous, Illamasqua, Mio Skincare, Mama Mio, Eyeko...

30 Sep 2020

Business

Rita-Rose Gagné to join Hammerson as its CEO

Hammerson plc has announced the appointment of Rita-Rose Gagné as Chief Executive Officer (CEO) and Executive Director. The company said in a statement that it is anticipated that she will take up her new role with Hammerson before the end of the year and David Atkins will continue to serve as CEO until Gagné joins the company. Commenting on...

30 Sep 2020

Business

N Brown posts recovery in Q2 revenues

N Brown In the second quarter, group revenues at N Brown declined 13.4 percent, recovering from a 21.9 percent decline in the first quarter. For the first half, the company reported revenue drop of 17.6 percent. Product revenue for the second quarter was down 12 percent and down 20.5 percent in the first half period. The company said in a...

30 Sep 2020

Business

Boohoo raises full year outlook after strong H1 revenue and profit growth

Boohoo Group revenue for the first half-year increased by 45 percent or 44 percent CER to 816.5 million pounds (1,048.4 million dollar). The company said in a statement that adjusted EBITDA for the period was 89.8 million pounds (115.3 million dollars), an increase of 48 percent, while profit before tax was 68.1 million pounds (87.4 million...

30 Sep 2020

Business

France to gradually ban mink farms

France said Tuesday it planned to "gradually" ban mink farms in the country as well the use of wild animals in travelling circuses and the breeding of dolphins and orcas in captivity. Environment minister Barbara Pompili announced the sweeping measures saying "our attitude to wild animals has changed". The country's three dolphinariums will also...

29 Sep 2020

Business

LVMH hits Tiffany with a countersuit

French behemoth LVMH said Tuesday that it had filed a countersuit against the American jewellery brand Tiffany, setting up an unusual legal fight after the collapse of one of the biggest luxury takeover bids in decades. LVMH walked away from its 16.2 billion dollar offer this month after claiming a series of poor decisions by Tiffany's board...

29 Sep 2020

Business

Boohoo asks court to dismiss ‘fake’ discounts lawsuit

Boohoo has asked a Los Angeles court to dismiss a 100 million dollar (79 million pound) lawsuit over allegations the British fast-fashion retailer was offering “fake” discounts. The retailer and as its subsidiaries PrettyLittleThing and Nasty Gal face civil claims that they are deceiving shoppers by running fake sales and promotions. It is...

29 Sep 2020