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Hollister links with TikTok stars for World Teen Mental Wellness Day

Teen retailer, Hollister Co., has partnered with TikTok stars and the mental wellness podcast Teenager Therapy to surprise select US high schoolers with virtual pop-up mental wellness discussions. Additionally, Hollister will donate one million dollars across 20 organizations in the US to support teenagers in local communities battling...

9 hours ago

Business

Kontoor Brands: Revenue and earnings increase in Q4

For the fourth quarter, Kontoor Brands, Inc. said revenue increased 1 percent to 661 million dollars on a reported basis and remained flat in constant currency. The company said, revenue increases were primarily driven by strength in digital, including own.com and digital wholesale, as well as improved performance across the Wrangler U.S....

9 hours ago

Business

Abercrombie & Fitch posts 5 percent decline in Q4 sales

Abercrombie & Fitch Co. fourth quarter net sales of 1.1 billion dollars were down 5 percent compared to last year, reflecting the adverse impact of Covid-19. Digital net sales increased 34 percent to 639 million dollars. The company said, gross profit rate improved 230 basis points to 60.5 percent, operating income was 116 million dollars and...

9 hours ago

Business

Kohl's reports Q4 per share earnings of 2.20 dollars

Kohl’s Corporation’s fourth quarter diluted earnings per share were 2.20 dollars compared to 1.72 dollars and adjusted diluted earnings per share were 2.22 dollars compared to 1.99 dollars per share in the previous year’s fourth quarter, including 1.15 dollars per share of incremental tax benefit driven by tax planning strategies. Net income...

10 hours ago

Business

Chico’s Q4 loss widens, sales drop 26.7 percent

For the fourth quarter, Chico’s reported a net loss of 79.1 million dollars or 68 cents loss per diluted share compared to 4.3 million dollars or 4 cents loss per diluted share, for the same quarter last year. For fiscal 2020, the company reported a net loss of 360.1 million dollars or 3.11 dollars loss per diluted share, compared to 12.8...

10 hours ago

Business

Pink Shirtmaker snapped up by former JD Sports exec

British formalwear brand Pink Shirtmaker is reportedly under new ownership after being put up for sale late last year by LVMH. The company, which was previously called Thomas Pink before being rebranded in 2018, has been acquired by former JD Sports executive Nick Preston, The Mail on Sunday reports. Pink Shirtmaker, which was founded in 1984 by...

12 hours ago

Business

Fashion Leadership Requires Vision and Skills

As the fashion industry continues to corporatize and globalize, it requires executive leadership that understands the complexity of turning design into product; that understands the emotional and functional needs of the consumer and balances that with the financial objectives of the shareholder. It requires someone with creativity, vision,...

13 hours ago

Business

Resale platform Vestiaire Collective secures Kering investment

Pre-owned clothing platform Vestiaire Collective has announced the completion of a new 178 million euro (216 million dollar) financing round backed by Gucci-owner Kering and US-based hedge fund Tiger Global Management. Kering chairman François-Henri Pinault described the fast-growing resale market as a “real and deeply rooted trend” as his...

14 hours ago

Business

Uniqlo Japan February same-store sales up 0.4 percent

February 2021 same-store sales including online sales at Uniqlo Japan, part of the Fast Retailing Group, increased by 0.4 percent year on year while total sales including online sales increased by 1.3 percent. The company said in a statement that same-store sales rose year on year in February on the back of strong sales of products designed to...

16 hours ago

Business

Save the Duck receives 3m euro sustainability loan

Save The Duck, Italy’s first fashion company to obtain the B Corp recognition, has received a three million S-Loan (Sustainability Loan) from the Intesa Sanpaolo bank. The loan, which is to be paid back over 72 months, is to provide improvement in the company’s environmental, social and governance operations. These include launching a green...

1 Mar 2021

Business

In The Style announces plans to float on AIM

British fashion e-tailer In The Style is reportedly planning to float later this month on AIM, a sub-market of the London Stock Exchange. The Manchester-based e-tailer intends to float on March 17, according to a release seen by The Industry.Fashion. Founder and CEO Adam Frisby said the decision marked an “exciting new chapter” in the company’s...

1 Mar 2021

Business

Birkenstock steps into big league with new luxury owners

Berli - Germany’s unabashedly frumpy but comfortable flat sandal maker Birkenstock stepped into the luxury league on Friday, with an LVMH-backed company and the French group’s billionaire owner snapping up the iconic brand. No details were given about the sum paid by LVMH-linked equity firm L Catterton and Bernard Arnault’s family holding fund...

1 Mar 2021