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Kohl's slashes 2022 forecasts as inflation squeezes demand

Kohl's slashes 2022 forecasts as inflation squeezes demand

​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%.
Fashion
Frasers Group aims to buy MySale as it expands abroad

Frasers Group aims to buy MySale as it expands abroad

​Frasers Group has made a cash offer to buy MySale Group, the flash sale business in which it already has a substantial stake.
Fashion
Global Fashion Group sees Q2 net merchandise value rising 11%

Global Fashion Group sees Q2 net merchandise value rising 11%

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.
Fashion
Walmart explores matchmaker marketplace for social media influencers

Walmart explores matchmaker marketplace for social media influencers

​Walmart may launch a platform that will use social media influencers to help the retailer and its 100,000 third-party sellers promote their goods and services online, according to trademark filings.
Fashion
Irish consumer sentiment hovers at 22-month low in August

Irish consumer sentiment hovers at 22-month low in August

 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.
Fashion
UK inflation hits double digits, highest since 1982

UK inflation hits double digits, highest since 1982

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.
Fashion
ASOS exec Mat Dunn to exit as firm restructures team

ASOS exec Mat Dunn to exit as firm restructures team

​There’s more change happening at the top of ASOS with Mat Dunn, its COO/CFO, who was also interim chief executive after Nick Beighton left, set to to leave the company.
Fashion
Walmart sees smaller profit drop as discounts draw shoppers, but clothing struggles

Walmart sees smaller profit drop as discounts draw shoppers, but clothing struggles

​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.
Fashion
Wolverine Worldwide’s revenue up 12.9% in Q2

Wolverine Worldwide’s revenue up 12.9% in Q2

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.
Fashion
UK launches Developing Countries Trading Scheme, cuts product tariffs

UK launches Developing Countries Trading Scheme, cuts product tariffs

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.
Fashion
H&M returns to Alibaba's Tmall, 16 months after Xinjiang controversy

H&M returns to Alibaba's Tmall, 16 months after Xinjiang controversy

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.
Fashion
Jewellery maker Pandora goes big on lab-made diamonds with North American launch

Jewellery maker Pandora goes big on lab-made diamonds with North American launch

Pandora, the world's largest jewellery maker, said on August 16 it would move ahead with its bet on lab-made diamonds, following its announcement last year to stop selling mined diamonds.
Fashion
Watches of Switzerland still riding high but says H2 could be challenging

Watches of Switzerland still riding high but says H2 could be challenging

​The good news just keeps flowing from Watches of Switzerland Group with the company on August 16 issuing a buoyant trading update for the 13 weeks to the end of July.
Fashion
ABG to buy Ted Baker for £211m, will restructure firm and target US growth

ABG to buy Ted Baker for £211m, will restructure firm and target US growth

​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.
Fashion
Dubai Mall owner Emaar to discuss selling its e-commerce business

Dubai Mall owner Emaar to discuss selling its e-commerce business

​The board of Dubai's Emaar Properties, which owns the Dubai Mall, will meet on Thursday to discuss the sale of its e-commerce fashion business, the company said on August 15.
Fashion
I Saw It First founder exits after Frasers buy, CEO stays on

I Saw It First founder exits after Frasers buy, CEO stays on

​Frasers Group may have brought Missguided founder Nitin pass back to run that business after it acquired it out of administration, but it’s not gone for continuity with another buy, that of I Saw It First.
Fashion