Representative image H&M scrapped its earnings margin target for 2024 as higher discounting, costs and fierce competition hurt operating profit in the third quarter, sending shares in the world’s No.2 listed fashion retailer down as much as 8%. H&M has struggled to boost its profitability amid high inflation, weaker consumer demand and competition from its…
Representative image Online fashion marketplace Zalando exceeded analyst estimates for quarterly profit on Tuesday thanks to growth in its sports, beauty and designer categories and improved inventories, sending shares up as much as 7% in morning trading. Zalando has focused on higher-priced brands and sportswear as it competes with low-priced retailers such as Shein. Gross…
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….
The world’s largest luxury group, LVMH, said Tuesday its half-year net profit slid 14 percent amid an uncertain geopolitical and economic environment. The drop in profit to 7.26 billion euros ($7.88 billion) was accompanied by a one-percent dip in sales to 41.68 billion euros by the group whose brands include Louis Vuitton, Dior, Celine and…
(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…
Lululemon Athletica beat Wall Street expectations for first-quarter profit and revenue on Wednesday, as a strong China business helped buffer a slowdown in consumer spending on pricey tank tops and leggings in its key North America market. Lululemon’s shares, which have declined about 40% this year, rose more than 10% in extended trading after the…
Riding the wave of its success in the domestic retail market, Noel Tata-led Trent is exploring opportunities to set up its retail formats outside Indian shores, beginning with a flagship store in Dubai, said people in the know. This move comes as Zudio, one of its flagship brands, surpasses the ₹7,000-crore revenue mark in India….
Nordstrom on Thursday warned of an uncertain economy and said consumers were resilient but selective , after the department store owner merely maintained its annual forecasts for sales and profit Shares in Nordstrom dropped nearly 5% in after-market trading. The company, which sells pricier clothes, shoes, and accessories, beat first-quarter revenue expectations. Department store chains…
(Representative Image) Jewellery chain Senco Gold is looking at 15-20 per cent growth in revenue and profit in the current fiscal, despite rising prices of the yellow metal and global uncertainties. The jeweller is also planning to add 15-20 stores in the current 2024-25 financial year (FY’25), of which around 50 per cent will be…
