Representative Image ASOS has agreed to sell its Topshop and Topman brands to a new joint venture with the holding company of Danish billionaire Anders Holch Povlsen in a deal valuing them at 180 million pounds ($237 million), the British online retailer said. Shares in ASOS soared 18% on Thursday after news of the sale,…
Representative Image Lululemon Athletica cut its annual sales and profit forecasts on Thursday, as demand for its pricey leggings and tank tops slowed in North America amid selective consumer spending. Its shares swung between heavy losses and gains to settle 5% higher after the bell as the athleisure wear maker’s profit beat estimates and it…
Representative Image Gap on Thursday surpassed Wall Street expectations for the second quarter, as a surprise early announcement of its results showed shoppers turned to its Old Navy and namesake brands to snap up trendy and fashionable clothing. Shares of Gap closed up nearly 2% at $22.8. The stock was halted during the day following…
Representative Image New Delhi: Raymond Lifestyle has appointed Rajiv Sharma as the Non-Executive Director, expanding its Board of Directors, it announced in a press release on Monday. The appointment follows Raymond’s plan to list the demerged business – Raymond Lifestyle Limited, in early September. On his appointment, Gautam Hari Singhania, chairman of Raymond Lifestyle commented,…
Representative photo India’s apparel exports clocked a robust growth of 11.85 per cent in July on the back of strong demand in the US and European markets, according to data compiled by the Confederation of Indian Textile Industry (CITI). Apparel exports shot up to $1,277.20 million during July this year from $1,141.95 million in the…
Representative Image New Delhi: Apparel retailer Cantabil Retail reported a net profit of Rs 11.4 crore in the quarter that ended June 30, 2024 against Rs 12.3 crore profit in the same period last year, it said in a regulatory filing. The company posted a revenue of Rs 127.9 crore in the quarter, slightly up…
New Delhi: Raymond Ltd on Tuesday reported a 26.7 per cent increase in consolidated net profit from continuing operations at Rs 57.04 crore in the first quarter ended June 2024. The company had posted a consolidated net profit of Rs 45.02 crore from continuing operations in the same quarter last fiscal, Raymond Ltd said in…
Indian clothing retailer Arvind posted a 40% fall in its first-quarter profit, as inflationary pressures weighed on consumer spending on apparels despite discounts. The company, which sells international brands like Tommy Hilfiger, Arrow and Calvin Klein, said its consolidated net profit fell to 393.1 million rupees ($4.7 million) from 658.7 million rupees a year earlier….
Representational Image Indian garment players have huge potential to export their products to Japan and the domestic industry should take greater advantage of the free trade agreement (FTA) between the two countries, AEPC said on Sunday. The Apparel Export Promotion Council (AEPC) said to tap the growing potential, they are leading a delegation to participate…
The Indian economy has recovered and expanded in an orderly fashion post-pandemic and the real Gross Domestic Product (GDP) in 2023-24 was 20 per cent higher than its level in pre-pandemic 2019-20, according to the Economic Survey 2023-24 tabled on Monday in the Parliament. This, as per the Survey document, is a feat that only…
