U.S. consumer spending rebounded strongly in January as the government doled out additional pandemic relief money to low-income households and new Covid-19 infections dropped, setting up the economy for faster growth.
Swedish “buy now, pay later” company Klarna on Thursday reported a jump in transactions using its platform and in net operating income in 2020, helped by its expansion in the United States and other markets.
It’s hard to think of a designer more in synch with a great fashion house than Wes Gordon, the creative director of Carolina Herrera. We Zoomed Wes to discuss creating for an iconic house and designing in the pandemic.
Germany's flat sandal maker Birkenstock stepped into the luxury league on Friday, with an LVMH-backed company and the French group's billionaire owner Bernard Arnault snapping up the iconic brand.
Citing “changing consumer behaviours” due to the coronavirus pandemic, Boots on Friday announced major job cuts at its head office operations.
Mytheresa was yet another luxury e-tailer seeing its sales soaring during the pandemic with the newly-listed German company saying it enjoyed a sales uplift of 32.9% in its second quarter.
Steve Madden Ltd. announced a 32.8 percent decrease in full year revenues on Thursday, as the company continues to feel the effects of the Covid-19 pandemic.
The Rockford, Michigan-based outdoor and active apparel and footwear company reported a Q4 net loss of $170.7 million on Thursday, as quarterly revenues fell 16.1% year over year.
Like many other online fashion retailers, Farfetch saw soaring demand last year and said on Thursday that its 2020 gross merchandise value topped $3bn, up 49% year-on-year. Meanwhile revenue rose 64% to $1.7bn.
It looks like the long rumoured private equity takeover of family-owned Birkenstock could actually be happening soon. L Catterton, the group with close links to LVMH, is said to be “nearing an agreement” to buy it.
Primark will have lost around £1.1 billion worth of sales due to lockdowns and other restrictions in the 27 weeks up to the end of this month, the value retailer said on Thursday.
The Los Angeles-based online fashion retailer reported Q4 net income of $19.0 million on Wednesday, representing a year-over-year increase of 126% compared to $8.4 million in the prior-year period.
The Victoria’s Secret parent company reported fourth-quarter income of $860.3 million, or $3.03 per share, on Wednesday, beating analysts’ estimates of $2.91 per share.
The cosmetics brand cited "an accumulation of challenges, together with the global impact of Covid-19" upon announcing its decision to close at the end of September 2021.
Discount store operator TJX Cos Inc missed estimates for holiday-quarter results on Wednesday, as coronavirus-induced lockdowns in Europe and Canada shaved about $1 billion off its sales.
