Home

News

Business

Latest articles in Business

Joules announces ESG-linked financing facility

British fashion and lifestyle brand Joules has established an ESG-linked financing facility with Barclays Bank. The company said Thursday it has extended its current funding arrangements with the bank, which include a 25 million pound revolving credit facility and 9 million pound term loan, to September 2024. It has converted the facility to an...

16 hours ago

Business

Kontoor Brands reports strong Q1, raises FY21 forecast

Kontoor Brands, Inc. reported revenue increase to 652 million dollars, up 29 percent on a reported basis and 27 percent in constant currency for the first quarter. Compared to adjusted revenue in the first quarter of 2019, reported revenue increased 3 percent. “The strong performance in the quarter was broad-based, as evidenced by improving...

17 hours ago

Business

Tapestry reports 19 percent sales increase, returns to profit

Net sales at Tapestry Inc. totalled 1.27 billion dollars for the third quarter compared to 1.07 billion dollars in the prior year, representing a 19 percent increase. Commenting on the third quarter results, Joanne Crevoiserat, chief executive officer of Tapestry, said: “Through a sharpened focus on the consumer, we fueled new customer...

19 hours ago

Business

Next ups profit forecast again following sales surge

Next has increased its full-year profit forecast for the third time in less than a year following a surge in sales. The British fashion retailer increased its central guidance for full year profit before tax by 20 million pounds to 720 million pounds, thanks to a mix of strong e-commerce sales and a bounce-back of its physical stores since...

21 hours ago

Business

Silk: Can We Dethrone the Queen of Fibers?

Silk is often called the “Queen of Fibers” known for being soft, supple, and lustrous. However, silk suffers from issues with its environmental footprint and animal welfare. Did you know that the Higg Index rates silk as the most environmentally damaging material used by the fashion industry based on factors such as global warming and water...

22 hours ago

Business

Global Design Graduate Show 2021 opens applications

The Global Design Graduate Show is returning for a second year to celebrate all art and design students, undergraduate and postgraduate, graduating in 2021. The showcase, launched by Artsthread in response to the Covid-19 pandemic cancelling end of year graduate showcases in 2020, is again teaming up with Gucci to highlight graduate talent. Last...

22 hours ago

Business

Superdry reports drop in full-year revenue, but returns to growth in Q4

Superdry has reported a 21 percent drop in full-year revenue as Covid-19 continued to impact the business, but said it could “clearly see the light at the end of the tunnel” as it returned to growth in Q4. The British fashion retailer said its revenue in the 12 months to April 24 2021 was 556.6 million pounds compared to 704.4 million pounds a...

1 day ago

Business

Zalando raises FY21 sales and profit outlook

Zalando has upgraded its outlook for the financial year 2021 following strong and profitable growth in the first quarter, continued elevated growth levels in the second quarter, and a stable outlook for the second half of the year. The company now expects gross merchandise volume (GMV) to grow 31-36 percent to 14 to 14.6 billion euros for the...

6 May 2021

Business

Gildan Activerwear swings to profit in Q1

Net sales for the first quarter at Gildan Activewear Inc. of 589.6 million dollars were up 28.4 percent compared to the first quarter of 2020, consisting of activewear sales of 484.6 million dollars, up 30.1 percent and sales of 105 million dollars in the hosiery and underwear category, up 21.4 percent. “Our first quarter results reflected a...

6 May 2021

Business

Lenzing invests 200 million euros in Asia for group-wide climate neutrality

Austrian fiber producer Lenzing Group is planning to invest more than 200 million euros (around 240 million US dollars / 170 million pound Sterling) in its production sites in Purwakarta (Indonesia) and Nanjing (China) to convert existing standard viscose capacity into environmentally responsible specialty fibers. In Nanjing, Lenzing will...

5 May 2021

Business

Rocky Brands reports 57 percent increase in Q1 revenue

Rocky Brands, a designer, manufacturer and marketer of footwear and apparel, has reported a 57.3 percent increase in first-quarter revenue to 87.7 million dollars. The US company saw sales in its wholesale segment increase 69.1 percent in the quarter, while sales in its retail segment were up 42 percent. Net income increased 278.1 percent to 4.5...

5 May 2021

Business

Virtual Fashion Platform Rtfkt Raises 8 Million dollars: 'People Spend More Time in the Virtual World'

Platform for virtual fashion Rtfkt has raised a total amount of 8 million dollars (converted 6.7 million euros) in an investment round, according to a press release in the hands of Business of Fashion. The investment is intended to expand the team and further expand the online platform, Business of Fashion writes. Rtfkt specializes in virtual...

5 May 2021