The Fort Myers, Florida-based womenswear retailer announced first-quarter sales of $388.0 million on Tuesday, an increase of 38.4% year over year, which also beat analysts’ estimates of $321.0 million.
Fast Retailing’s Uniqlo interrupted a fairly strong record of rising Japanese same-store sales during May as the company recorded a 0.6% drop year-on-year. That said, total sales did manage to increase by 3.6%.
As companies across different industries roll out products for Pride Month, Rihanna’s Savage X Fenty is doubling down on its inclusive message with its own Pride collection, the first to be launched by the brand.
M&S has delivered a bleak full-year earnings report, although the bad news was far from unexpected. In year to April 3 — which included three lockdowns during which its clothing departments were shut — sales plummeted.
From making algae-sequin dresses, dyeing clothes with bacteria to planting trackable pigments in cotton, an emerging tide of innovations offers the fashion industry a chance to clean up its woeful environmental record.
The Victoria’s Secret parent company announced net income of $276.6 million, or $0.97 per share, for the first quarter on Wednesday. Adjusted earnings per share totaled $1.25, beating analysts’ estimates of $1.25.
Wolford released its delayed results for its shorter fiscal year late on Wednesday and while it swung to a profit, the upscale hosiery and bodywear firm also talked of “significant business losses” due to the pandemic.
The company revealed that its board has unanimously approved its planned spin-off of the Victoria’s Secret brand on Tuesday and provided further details about the transaction, as well as preliminary Q1 financial results.
E-tail giant Zalando swung to a profit in Q1 and is expecting general merchandise value growth of up to 36% this financial year after a stellar start to 2021 in which GMV grew as much as 55.6% to €3.2 billion.
Online sales accounted for nearly a fifth of total retail turnover last year as lockdowns to combat the spread of the coronavirus pandemic fuelled a boom in e-commerce, a United Nations study released on Monday showed.