NEW DELHI: After blockbuster post-Covid years, the car industry now stares at a squeeze, with companies slashing wholesales to dealerships as buyers have become cautious and are not willing to spend freely, despite steep discounts.The car industry had enjoyed a housefull at dealerships since the economy started to open up around 2021 after Covid and…
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….
H&M plans to offer more discounted fashions in the second half of this year as it tries to win back customers from the likes of Zara owner Inditex and Shein. H&M has over the past year or so said it was prioritising profitability over sales volumes in order to reach a 10% operating margin goal,…
