Fashion
Calçado Penha makes its debut at ModaLisboa
The Portuguese footwear company, which specialises in the production of high-quality men’s footwear, made its debut on a Fashion Week catwalk with the BÉHEN brand
Uniqlo owner posts robust first half
The Japan-based Fast Retailing has reported a “record” first half revenue of 1.60 trillion yen (9.77 billion euros), up by 9.0% year-on-year, mainly due to a strong performance from Uniqlo overseas
Ted Baker UK to close 15 stores and cut nearly 250 jobs
Ted Baker is to close 15 of its stores across the UK within weeks and make 245 store and head office jobs redundant. The brand’s UK and Europe arm went into administration last month
H&M’s operating performance improves in the first quarter
Despite a slight decline in net sales, the Sweden-based fashion group surprised with a “substantial improvement” in operating profit and total profit in the first quarter of its fiscal year
Next reports solid fiscal 2024
The UK-based fashion retailer reported a total sales growth of 5.9% year-on-year in its last fiscal year and a pre-tax profit that beat the expectations announced in January
France on course to penalise fast fashion
In mid-March, France’s lower parliament approved a bill imposing penalties on ultra-fast fashion products to help offset their environmental impact. The law has now been sent to the Senate
Toni Belloni to step down as LVMH Group’s Managing Director
After more than 23 years at Arnault’s side, Belloni will step step down as Group Managing Director and Chairman of the Executive Committee of the LVMH Group, effective from the 18th of April
Micam with 3 days format in September
The next edition of the Milan-based fashion trade fairs, MICAM Milano, MIPEL, TheOne and Milano Fashion & Jewels will be held at Fieramilano (Rho) from the 15th to the 17th of September 2024
Uncertainty for Ted Baker as UK and European arm goes into administration
The British fashion retailer is planning to appoint administrators, a spokesman for owner Authentic Brands Group confirmed on Tuesday. Hundreds of jobs are expected to be at risk
Strong performance of Inditex in 2023
The Spain-based fashion group reported a 10.4% year-over-year growth in sales to 35.9 billion euros in 2023, with positive results across all channels and regions. Profits up by 30.3%
Mango hits the 3 billion sales mark
The Spanish-based fashion group has increased its turnover by 15%, reaching more than 3.1 billion euros for the first time in 2023. It aims now to pass the 4 billion mark by 2026
Macy’s announces fourth quarter and fiscal 2023 results
The US company has posted a year-on-year decline in sales and profits for both the fourth quarter and full year, but said it’s in a better financial position to continue its modernisation strategy
UK Retail: challenging times may be ahead after disappointing fourth quarter in 2023
Retail sales of clothing and footwear disappointed in the last quarter of the year after a promising start on Black Friday. This is not particularly surprising given that prices in the category fell more slowly than overall prices and items remain relatively more expensive, making consumers more cautious in their choices. There are some long-term positive signs for retailers when it comes to consumer confidence, but there are likely to be some bumps in the road in the meantime
H&M plans up to 588 job cuts in Spain
The Sweden-based retailer plans to close a fifth of its stores and lay off up to 588 employees in Spain. H&M currently operates 133 stores in the country and employs nearly 4 000 people
H&M announces results for 2023, CEO steps down
The Sweden-based group has reported a 6% growth in net sales in 2023, as compared to the previous year. However, its CEO has stepped down amid sluggish sales at the start of the year-
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