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….
Fashion retailer Express Inc has filed for Chapter 11 bankruptcy in the United States and intends to close more than 100 stores, it said on Monday. The retailer whose portfolio includes brands such as Express, Bonobos and UpWest Express, listed assets and liabilities in the range of $1 billion to $10 billion, according to a…
Nike has increasingly leaned on its iconic basketball shoes to boost sales, but as the sportswear giant bleeds market share to newer brands, some analysts and investors are wondering if that is a mistake. Shares of the retailer were down 5.6% in extended trading on Thursday after a post-earnings conference call in which executives acknowledged…
Shares of Foot Locker slumped about 27% on Wednesday after the retailer projected 2024 profit below Wall Street expectations, hurt by a planned ramp-up in investments across its business to boost demand. Despite a solid holiday quarter, Foot Locker said it would achieve its long-term profit margin target two years later, in 2028, dashing hopes…
U.S. asset manager Davidson Kempner, owner of Britain’s Oak Furnitureland, is in discussions with British fashion retailer Superdry co-founder Julian Dunkerton about backing an offer for the clothing company, Sky News reported on Monday, without citing a source. The talks are at a preliminary stage and there is no guarantee that Davidson Kempner will ultimately…
Levi Strauss & Co president Michelle Gass said India is now the largest market for them within Asia and sixth largest globally. The San Francisco-based jeans maker, which opened its first door in the country three decades ago, said the country is the fastest-growing major economy in the world in 2023, and it expects significant…
