Urban Outfitters announced on Tuesday net sales for the first quarter increased 13%, on the back of double-digit growth in retail comparable sales, with inflation and operational costs weighing down company profits.
The RealReal announced on Tuesday total sales for the first quarter increased 48%, on the back of strong gross merchandise value (GMV) growth, as the online luxury resale platform remained in the red for another quarter.
Many UK trading updates at the moment see retailers reporting weaker sales and reining-in expectations for the year. But Next’s update on Thursday did neither, even though sales guidance for 2022 overall is fairly muted.
Giant comms and tech agency WPP has launched a digital commerce managed service, called Everymile, to provide luxury brands and companies with a “fully outsourced direct-to-consumer (DTC) e-commerce solution”.