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…
New Delhi: Fashion-tech platform Virgio, founded by the former CEO of Myntra, Amar Nagaram, aims to become a house of brands by foraying into multiple fashion categories. Talking to ETRetail, Nagaram said, “We are solving the building blocks of how a fashion-tech company should be. We’re looking at other categories such as ethnic-wear. As a…
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 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…
(Representative Image) German fashion house Hugo Boss on Monday cut its sales guidance for the year to a range of between 4.20 billion euros (USD 4.58 billion) to 4.35 billion euros over weakening global consumer demand especially in markets like China and the UK. The company earlier expected sales for the year at around 4.30…
(Representative Image) The operator of Japan’s high-street fashion giant Uniqlo on Thursday hiked its full-year net profit forecast, predicting record results despite an underwhelming performance in China. Retail behemoth Fast Retailing said it was on course to make 365 billion yen (USD 2.26 billion) in the year to August, upgrading its previous estimate of 320…
H&M posted on Thursday a 52-percent jump in net profit for the second quarter as the world’s second biggest fashion retailer pressed on with efforts to control costs. Chief executive Daniel Erver said the company had achieved its “best profit and cash flow for many years” in the April-to-June period, with profit after tax reaching…
(Representative Image) Spanish fashion retailer Tendam reported on Thursday a 10 per cent rise in core earnings for its 2023 financial year and forecast lower to steady first-quarter growth as the company mulls an initial public offering. The owner of the Women’s Secret, Cortefiel and Springfield chains is ready to launch an IPO on the…
Zara owner Inditex grew its sales by 7% in the first quarter of its fiscal year, it said on Wednesday, in line with analysts’ expectations. The performance represented a slowdown from a year ago when it benefited from a post-pandemic shopping spree. Inditex, which also owns Pull&Bear, Massimo Dutti and other brands, is attempting to…
Representative Image New Delhi: Ethnic fashion retailer Libas has raised Rs 150 crore from ICICI Venture, marking its first external fundraise. The company plans to use the funds to further strengthen its omnichannel presence and ramp up its retail stores across key metros and tier 1, 2, and 3 cities over the next few years….
