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THG share plunge continues after update

THG share plunge continues after update

THG can’t seem to catch a break. After it reported strong figures in its latest update, its share price continued to plummet, down from over £3 each at the previous day’s close to less than £2.40 each in early trading.
Fashion
JCPenney names Marc Rosen CEO, Shashoua is executive chairman

JCPenney names Marc Rosen CEO, Shashoua is executive chairman

US retail giant JCPenney has a new CEO and has named Marc Rosen to the post, effective November 1. And Stanley Shashoua, chief investment officer at the firm’s owner, Simon Property Group, becomes executive chairman.
Fashion
THG revenues soar, says both Beauty and Ingenuity are strong

THG revenues soar, says both Beauty and Ingenuity are strong

​Under-pressure THG issued a Q3 trading statement on Tuesday and said that revenue continues to soar. Group revenue rose 38% year-on-year to £507.8 million and 93.8% on a two-year, constancy-currency basis.
Fashion
Chinese hunger for luxury fuels L'Oreal sales growth

Chinese hunger for luxury fuels L'Oreal sales growth

L'Oreal on Thursday posted better-than-expected revenue growth for the third-quarter, fuelled by continued strong demand for its luxury lines and sustained growth in China.
Beauty
Online, social and cross-border shopping now normal for young consumers, says ESW

Online, social and cross-border shopping now normal for young consumers, says ESW

​We've seen more evidence of how younger consumers have changed their shopping habits since the onset of the pandemic with a report saying that many continue the online behaviour they developed during lockdown.
Fashion
Unilever sales rise as pricing power kicks in

Unilever sales rise as pricing power kicks in

​Consumer goods mega-giant Unilever had good news Thursday as it beat Q3 growth predictions and kept to its full-year profit margin guidance due to its brand power enabling it to hike prices to cope with rising costs. 
Beauty
Unilever margins in spotlight as inflation surges

Unilever margins in spotlight as inflation surges

Unilever's battle with rising costs will take centre stage at its third-quarter results on Thursday, with investors focused on whether it will cut its profit margin forecast for the second time this year.
Beauty
It's luxury's year as new Best Global Brands list shows power of key labels

It's luxury's year as new Best Global Brands list shows power of key labels

​Luxury is continuing its recovery from the pandemic and a new brand ranking released on Wednesday showed that luxury labels are among the world’s top performers.
Luxury
Ulta announces investments in deliveries and digital, disappoints with financial outlook

Ulta announces investments in deliveries and digital, disappoints with financial outlook

The beauty retailer provided a strategic update to investors on Tuesday, revealing plans to invest in new delivery improvements and digital capabilities, but ultimately disappointing with a lower-than-expected outlook.
Beauty
Emma Raducanu signs up as new Dior ambassador for fashion, beauty

Emma Raducanu signs up as new Dior ambassador for fashion, beauty

​British tennis star Emma Raducanu has deepened her links to luxury giant LVMH and has been signed up as Dior’s newest celebrity ambassador, underlining the A-list status she achieved when she won the US open.
Luxury
Matalan has good Q2 but supply chain issues hamper sales

Matalan has good Q2 but supply chain issues hamper sales

​Matalan revenues rose fast in Q2 but could have risen faster if not for supply chain issues. The company is staying cautious as logistics problems frustrate efforts to get the product customers want into its stores. 
Fashion
Very Group buoyant as sales and profits soar, fashion is strong

Very Group buoyant as sales and profits soar, fashion is strong

​Very Group reported its full-year results on Tuesday with sales surging and pre-tax profits leaping even faster at the owner of the Very.co.uk and Littlewoods brands.
Fashion
THG founder relinquishes 'golden share', aims to halt share price fall

THG founder relinquishes 'golden share', aims to halt share price fall

​As it reels from a plummeting share price, THG (which used to be known as The Hut Group) said on Monday that its founder is cancelling his Special Share rights.
Fashion
Harrods and Printemps owner in talks to buy Selfridges

Harrods and Printemps owner in talks to buy Selfridges

​Could London's two top luxury department stores end up with the same owner? That's the question being asked on Monday as it has emerged that the owner of Harrods is possibly front-runner to buy up-for-sale Selfridges.
Luxury
Boots bounces back as parent company WBA reports strong results

Boots bounces back as parent company WBA reports strong results

​Multinational health and beauty retailer Walgreens Boots Alliance (WBA) has reported Q4 results that “exceeded expectations, reflecting [a] strong operational performance”.
Beauty
Hut Group defends performance as shares plummet by a third

Hut Group defends performance as shares plummet by a third

​A capital markets day is meant to boost a share price as the company concerned talks major investors through its strategy. But in the case of The Hut Group (THG) this week, it had the exact opposite effect.
Fashion