German online fashion retailer Zalando on Wednesday forecast a return to growth this year and said it was opening up its logistics business to more players, raising hopes of a boost to its performance and helping to lift its shares. The stock jumped as much as 18.5% after the company also said late Tuesday it…
Kohl’s on Tuesday forecast annual sales and profit largely below market expectations, joining Macy‘s and Nordstrom to warn of a challenging year for U.S. department stores. Shares of Kohl’s, which gained about 14% in 2023, fell 2% in early trading as it posted a steeper-than-expected drop in same-store sales in the fourth quarter. The retailer’s…
Maruthy Ramgandhi New Delhi: D2C men’s fashion wear brand Snitch has appointed Maruthy Ramgandhi as the chief technology officer (CTO), it announced in a press release on Wednesday. Ramgandhi comes with 18 years of experience in launching customer experience and data-driven delivery products in e-commerce space. He has previously worked with companies like Stumbl, Amazon,…
Representative image New Delhi: High streets emerged as the top choice for luxury brands in India’s top eight cities in 2023, according to a report by CBRE South Asia released on Wednesday. The eight cities tracked for leasing include Delhi-NCR, Mumbai, Bangalore, Kolkata, Pune, Ahmedabad, Chennai and Hyderabad. High Streets constituted about 45 per cent…
Madrid: Zara owner Inditex, the world’s biggest fashion retailer, on Wednesday reported its highest-ever profits in 2023 thanks to buoyant sales and its policy of raising prices. Its net profit reached 5.4 billion euros ($5.9 billion) last year, up 30 percent from 4.1 billion euros in 2022, which also was a record for the fashion…
German sportswear giant Adidas posted its first annual loss in more than 30 years on Wednesday and warned sales in North America would fall again as sportswear retailers in the U.S. struggle with high inventories. Adidas has been battling to right itself after it cut ties with Kanye West in October 2022, suspending sales of…
PARIS: India is a “big priority” market for Decathlon, and the French sports retailer expects the country to be among its top five global markets within the next five years, helped by expansion of store network and increased local sourcing, according to a top company official. Decathlon, as part of its growth plans, will add…
Gold prices steadied on Wednesday, after posting its biggest decline in a month in the previous session after a sticky U.S. inflation report boosted bond yields and slightly tempered hopes for a June interest rate cut from the Federal Reserve. FUNDAMENTALS Spot gold edged 0.1% up to $2,158.26 per ounce, as of 0151 GMT. U.S….
NEW DELHI:In a recent interview, US Congressman Rich McCormick, a Republican from Georgia, expressed unwavering confidence in Prime Minister Narendra Modi‘s prospects for re-election in the upcoming Lok Sabha elections, citing his widespread popularity and progressive leadership.“Prime Minister Modi is incredibly popular. I was just over there. I actually had lunch with Prime Minister Modi…
