TOKYO: Japan’s Fast Retailing Co reiterated on Thursday its forecast for a third year of record profits, as the Uniqlo owner ramps up an expansion into North America and Europe to take on entrenched rivals H&M and Zara owner Inditex. Its ambitious growth moves in Western markets comes as sales in its home market weaken,…
H&M, the world’s second-largest listed fashion retailer, beat first-quarter operating profit expectations on Wednesday helped by a smaller-than-expected fall in sales. The Swedish group posted an operating profit of 2.08 billion crowns ($196 million), up from 725 million and well above the 1.43 billion expected by analysts in an LSEG poll. Sales fell by 2%,…
An item of clothing by Spanish fashion retailer Mango (file image) Spanish retailer Mango is honing in on adaptable clothing to help customers adjust to wild swings in temperature as climate change makes fashion less seasonal, Chief Executive Toni Ruiz told Reuters. The clothing industry used to work according to clearly delineated seasons, but global…
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…
Spanish fashion retailer Mango reported on Monday record sales of 3.1 billion euros ($3.39 billion) in 2023, beating its forecast after matching domestic rival Zara’s strong expansion in the United States. The Barcelona-based brand said sales jumped 19% last year to exceed its forecast of 3 billion euros through a focus on party wear and…
Superdry on Monday confirmed that it was in talks with lender Hilco to provide additional liquidity, as the struggling British fashion retailer looks to navigate weak demand. The company said it is in discussion to increase its lending facilities by about 10 million pounds ($13 million) and an additional 10 million pounds to meet seasonal…
NEW DELHI: Reliance is in exploratory talks with British fashion retailer Primark to bring the label to India, a move that will pit it against Tata’s Zudio, Landmark Group-owned Max and Shoppers Stop‘s new value format InTune. The 55-year-old brand, popular for its moderately priced clothing and shoes, has been evaluating the Indian market for…
Representative image UK fashion retailer Superdry warned of a hit to annual profit on Tuesday, as unusually warm weather hurt sales of its autumn/winter collection and consumers curb spending amid a cost-of-living squeeze. Shares in the company, known for its jackets and clothing inspired by American vintage styles and Japanese-inspired graphics, fell as much as…
Madrid: Spanish fashion retailer Zara is expanding its service to sell, repair or donate second-hand clothes in several European countries from Dec. 12, the company said on Tuesday, as the market for used apparel grows. The service called ‘Pre-Owned’ is already available in the United Kingdom and France through Zara’s stores, its website and a…
BENGALURU: UK’s struggling fashion retailer Superdry said on Wednesday it would sell its intellectual property assets in South Asia to Reliance Retail, India’s largest retailer, for 40 million pounds ($48.27 million) via a joint venture. Superdry – which has been grappling with weak orders from wholesale partners cautious on stock levels and liquidity – said…
