London: British clothing retailer Next kept its guidance for sales and profit in the current year after reporting a slightly better than expected 5% rise in profit for 2023-24. The group, which is often considered a useful gauge of how British consumers are faring, said on Thursday it still expected a profit before tax and…
LONDON: Adidas deliveries to retailers are being delayed by Red Sea shipping disruptions, the CEO of the sportswear company told analysts on Thursday, adding that soaring freight rates are weighing on gross margins. Shipments are currently delayed by about three weeks, CEO Bjorn Gulden said, and that is causing some delivery issues, especially to Europe….
Representative image The Synthetic and Rayon Textiles Export Promotion Council has sought higher duty drawbacks, rebates of State and Central taxes and levies (RoSCTL), and Remission of Duties or Taxes on Export Products (RoDTEP) citing delays and steep increase in freight rates and insurance premium due to the crisis in the Red Sea. Red sea…
