Kohl's Corp cut its full-year sales and profit forecasts on Thursday, squeezed by steep discounts and higher costs amid dwindling demand for clothing and shoes in the face of high inflation, sending its shares down 5%.
Global Fashion Group, the online fashion and lifestyle destination targeting growth markets, has delivered net merchandise value (NMV) of €792.1m in the second quarter of 2022, up by 11.8 per cent year-on-year.
Irish consumer sentiment slipped marginally to hover at a 22-month low in August as respondents said they expected to further cut back on major purchases in the coming months, a survey showed on Thursday.
British consumer price inflation jumped to 10.1% in July, its highest since February 1982, up from an annual rate of 9.4% in June, intensifying the squeeze on households, official figures showed on Wednesday.
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.
The UK has launched the Developing Countries Trading Scheme to extend tariff cuts to hundreds of more products exported from developing countries, going further than the EU's Generalised Scheme of Preferences.
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.