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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...

1 hour 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...

2 hours ago

BusinessFeatured

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,...

2 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....

4 hours ago

BusinessFeatured

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...

4 hours ago

Business

Harrods appoints Tim Parker as chief financial officer

Harrods has announced the appointment of Tim Parker as the new chief financial officer for the group. Parker joins the luxury department retailer following a range of senior financial leadership roles throughout his 10 years at Jardine Matheson, where he diversified the Asia-centred group. In a release, the retailer said Parker will be joining...

5 hours ago

Business

Secret Sales launches fulfilment service supporting brands needing UK distribution

Online marketplace Secret Sales has announced the launch of a fulfilment service that aims to support brands that require a UK distribution centre. The new offering, Fulfilment by Secret Sales (FBSS), hopes to solve logistical problems faced by brands that want to be featured on the marketplace but aren’t equipped with the infrastructure or...

5 hours ago

Business

Boohoo agrees to settlement following claims of misleading pricing

Fast fashion conglomerate Boohoo has announced it has agreed to a final settlement over a US class action lawsuit that claimed it was misleading customers with its pricing. The case, which was filed in California, alleged that the fashion retailer was offering large discounts on inflated prices to US customers, leading them to believe they were...

5 hours ago

Business

European Commission launches antitrust investigation into several fashion companies

The European Commission has announced it will be carrying out unannounced inspections of the premises of several unnamed companies in the fashion industry located in its Member States. Additionally, the commission also stated that it had sent out formal requests for information to further fashion firms. In a release, the organisation said that...

5 hours ago

Business

PVH invests 10 million dollars in global nonprofits supporting diversity and inclusion

Fashion conglomerate PVH has announced it will be investing a total of 10 million dollars into global nonprofits over the next four years as part of its Inclusion & Diversity Commitments. Made through its philanthropic arm, The PVH Foundation, the investments will go towards selected partner organisations that aim to increase access to...

6 hours ago

Business

True Religion establishes accessory licensing deal with GMA Group

True Religion has announced it has made an exclusive licensing agreement with Concept One Accessories and Capelli/Ballet, divisions of multi-business firm GMA Group. The deal covers men’s, women’s and children’s cold weather accessories, fashion headwear and jewellery, as well as handbags, small leather goods and hair accessories. “This is the...

7 hours ago

Business

Stitch Fix appoints new chief marketing officer

Stitch Fix has announced the appointment of Debbie Rose Woloshin to chief marketing officer, effective immediately. Woloshin will be joining the online personal shopping platform from Marc Jacobs, where she served in the same position. She has also led marketing at the Frye Company and Ann, Inc. In her new role, Woloshin will be responsible for...

7 hours ago