Walmart nudged up its annual profit forecast on August 16, partly reversing a hefty recent cut, as discounts to clear excess merchandise and lower fuel prices helped it beat expectations for quarterly sales.
Wolverine Worldwide posted revenue of $713.6 million in the second quarter for growth of 12.9 per cent versus the prior year. Excluding Sweaty Betty, revenue was $666.2 million, a record for the period.
Swedish fashion giant H&M's official store on Alibaba's Tmall e-commerce platform has re-opened, 16 months after the Chinese site took it down following the brand's criticisms of human rights abuses in Xinjiang.
Ted Baker and Authentic Brands Group announced on August 16 that ABG will be buying the British fashion retailer for an agreed price of around £211m ($254m). It will mean a major push into North America for the label.
Lifestyle retailer Joules said it has found a new CEO to replace Nick Jones. Jonathon Brown will join on 7 September 2022 and will take over fully at the end of next month “following a short handover period”.
In Switzerland, inflation is even making its way into women's clothing stores -- a phenomenon described as "pinkflation." For several months now, many European countries have been facing significant inflation.
Primark has named Michelle McEttrick to the new Chief Customer Officer role, “to develop the Primark brand and customer strategy as the business continues its expansion across new markets, channels and products”.
Adidas on August 4 said operating profit fell by 28% in Q2 to €392 million, as results suffered from it suspending business in Russia, higher supply chain costs and COVID-19 lockdowns in China and Vietnam.
Retailer Next, a mainstay of Britain's shopping streets, defied the economic gloom on Thursday to lift its full-year sales and profit forecasts after warm weather in June and July spurred better-than-expected trade.
Euro zone retail sales plunged more than expected in June as prices at factory gates continued to rise, data showed Wednesday, signalling a weakness in consumer demand that could herald a recession in H2.
A long queue of Russians snaked through a Moscow shopping centre on Tuesday, waiting to get into H&M as the fashion retailer flung open its doors for a final time to sell inventory before making a full exit from Russia.