Fashion
UK Retail: stabilisation of the footwear trade is the best we can hope for at the moment
The bad weather in July and August may not have helped retail over the summer, but it would be ill-advised to believe that’s what it’s all about. Despite some improvements in the general consumer price index, the footwear segment continues to show some resistance to going along with the trend. Inflation will have to continue to fall in order to contribute to sustained sales growth in the future, as most consumers have too much on their plate to spend on non-discretionary items. The only positive sign comes from imports, whose data seems to indicate that at least a stabilisation in retail trade is on the horizon
Nordstrom appoints Chief Human Resources Officer
The Seattle-based department store chain has named Lisa Price as Chief Human Resources Officer. She returns to Nordstrom after serving in the same role at Domino’s Pizza since 2019
Inditex and the International Apparel Federation join forces
The Spanish-based group and the International Apparel Federation have signed an agreement to drive a transformation in the global fashion industry in the fields of circularity, traceability and worker well-being
LVMH’s growth slows in the third quarter
The French-based luxury conglomerate posted an organic revenue growth of 9% in the third quarter, as compared to an organic growth of 17% recorded in the previous quarters of 2023
A new project is being launched to develop skills in the European fashion industry
The Blueprint MetaSkills4TCLF project aims to transform the way skills in the textile, clothing, leather and footwear industries are developed by adopting new learning strategies and bringing in new actors
H&M profits rise in the third quarter
Despite the slowdown in sales during the third quarter, the Sweden-based fashion group saw its profits rise significantly in the period to 3.32 billion Swedish Krona (285.9 million euros)
Zara expands its pre-owned platform to France
After a successful rollout in the UK in October 2022, the fashion chain owned by the Spanish-based Inditex group has expanded its second-hand platform in France
Zalando: co-CEOs remain at the helm and sustainability and D&I come under the same umbrella
The e-commerce platform announced that the contracts of Robert Gentz and David Schneider as co-CEOs have been extended and that Pascal Brun has been appointed Vice President of Sustainability and Diversity & Inclusion
H&M anticipates 'flattish' sales
The Sweden-based fashion group has released a sales development update for the third quarter of fiscal 2023, ahead of the publication of the nine-month report scheduled for the end of September
Primark to close the year with sales growth
Primark's parent company, Associated British Foods (ABF), issued a trading update just before the end of its financial year, anticipating sales growth for both the last quarter and the full year
Inditex profits soar by 40% in the first half
The Spanish-based fashion group, which owns, among others, Zara and Massimo Dutti, posted a strong performance in the first half of 2023, marked by significant growth in profits
Changes at Uniqlo's leadership team
Fast Retailing has announced the appointment of its Founder Tadashi Yanai as CEO of Uniqlo. Meanwhile, Board Director Daisuke Tsukagoshi will serve as the retailer's COO
AAFA supports California bill on greenhouse gas emissions
The bill proposes that companies with more than 1 billion US dollars in gross revenue doing business in the state of California must annually and publicly disclose their greenhouse gas emissions
Farfetch remains optimistic despite stumbles in the second quarter
The UK-based luxury platform posted a small drop in revenue in the second quarter of 2023, as compared to the same period of 2022, while profits remain in the red zone since the first quarter-
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