German fashion house Hugo Boss reported a better-than-expected increase in Q1 sales and net profit on Wednesday, helped by a recovery in China as well as growth in Britain, where the weak pound boosted tourist spending.
Supermarkets giant Sainsbury’s has reported a third year of lower profits. But there's good news too as fashion label Tu outperformed and the Argos unit many said it shouldn’t buy proved its worth, driving sales higher.
Hanes saw a 13% lift in net sales in the first quarter, led by acquisitions in 2016 and online sales. The North Carolina-based firm also launched a Project Booster initiative to generate $300 million in net cash by 2020.
After a disappointing 2017, the jewelry company will put its focus on its digital presence and online sales. The company’s major brands, such as Zales and Kay, are best known for their presence in shopping malls.
The world’s leader in luxury eyewear announced on Friday an increase of 5.2% in sales in the first quarter, to 2.38 billion euros but like-for-like sales fell 3.5 percent in the first quarter due to online promotions.
Union pension fund adviser CtW Investment Group on Monday urged Urban Outfitters investors to vote against two longstanding directors and said the board's "extreme insularity" contributed to the its weak performance.
Private equity firm Blackstone Group LP's credit arm, is acquiring more of J. Crew Group's debt, hoping for a profitable trade that could also give the fashion retailer more time to stave off bankruptcy, sources said.