The Hut Group (THG) swung to an operating loss in its 2020 financial year as one-off items drove it into the red. However, the company’s revenues surged during the period as all divisions outperformed.
There are some mixed signals coming out of the latest consumer research suggesting that the retail bounce-back could be delayed until late summer. But fashion and beauty should still get a boost from next month.
A judge has said Citigroup is not entitled to recoup half a billion dollars of its own money that it mistakenly wired lenders of Revlon, in what he called "a banking error of perhaps unprecedented nature and magnitude."
Now in its sixth year, the program's focus on founders of color comes as part of Sephora's increasing number of commitments to increasing BIPOC representation in prestige beauty and on Sephora shelves.
The Texas-based professional beauty supply company has reported net earnings of $57.2 million for the first quarter, reflecting a 7.5% year-over-year increase, in spite of sales that came in under Wall Street estimates.
A new report by Kline, a consulting and market intelligence company, found that while foot traffic was down, sales "did not decline as significantly," thanks to higher consumer spending and stocking up during visits.