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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
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
France plans fashion revolution with climate-impact labels

France plans fashion revolution with climate-impact labels

Next year, France will pass a decree that will require every item of clothing sold in the country to carry a label detailing its precise climate impact.
Fashion
Most US consumers reluctant to spend due to inflation, but still buying office-wear

Most US consumers reluctant to spend due to inflation, but still buying office-wear

Around four out of five consumers (80 per cent) in the US say that they are less confident about spending, while 62 per cent of them believe that the county is currently experiencing a recession.
Fashion
Gildan Activewear sees sales of $896m in Q2

Gildan Activewear sees sales of $896m in Q2

Canadian clothing manufacturer Gildan Activewear Inc. has generated sales of $896 million during the second quarter of 2022, which is up 20 per cent over the prior year.
Fashion
Jane Fonda fronts key activewear brand launch for H&M

Jane Fonda fronts key activewear brand launch for H&M

​H&M has launched a new line, called H&M Move, via which it’s inviting “the whole world to move together with Jane Fonda and JaQuel Knight”.
Fashion
Adidas posts 28% decline in Q2 operating profit despite sales increase

Adidas posts 28% decline in Q2 operating profit despite sales increase

​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.
Fashion
UK retailer Next lifts outlook on strong clothing demand

UK retailer Next lifts outlook on strong clothing demand

​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.
Fashion
Eurozone retail sales drop more than expected in June as prices rise

Eurozone retail sales drop more than expected in June as prices rise

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.
Fashion
JD Sports confirms Al-Futtaim's Schultz as CEO

JD Sports confirms Al-Futtaim's Schultz as CEO

​JD Sports Fashion on Tuesday confirmed that Régis Schultz has been appointed as its new CEO “following an extensive executive global search process” and after speculation last week that he would be named to the post.
Fashion
Showroomprivé sales drop significantly in the first half of the year, but posts slight profit

Showroomprivé sales drop significantly in the first half of the year, but posts slight profit

Sales of the e-commerce clearance site Showroomprivé fell by more than 21% in the first half of 2022 to €305.4 million.
Fashion
Deckers Q1 sales surge on Hoka brand, reaffirms full-year guidance

Deckers Q1 sales surge on Hoka brand, reaffirms full-year guidance

Deckers Brands announced Thursday a strong start to fiscal 2023, reporting a first-quarter revenues uptick of 22%, on the back of strong growth in its portfolio darling, Hoka.
Fashion
VF Corp Q1 sales hit by APAC store closures, Vans dip

VF Corp Q1 sales hit by APAC store closures, Vans dip

VF Corporation announced on Thursday revenues for the first quarter increased by 3%, on the back of double-digit growth its The North Face brand, offsetting a dip in its Vans business and plunging APAC sales. 
Fashion
Timberland drops first sustainable collaboration with Clot

Timberland drops first sustainable collaboration with Clot

Timberland and Hong Kongese label Clot have unveiled their first joint capsule collection inspired by traditional Chinese art, created solely using natural and sustainable materials, including 100% bio-sourced cotton.
Fashion
Jack Ma may have plans to give up control of Ant Group

Jack Ma may have plans to give up control of Ant Group

Chinese billionaire Jack Ma plans to give up control of financial technology company Ant Group Co in an effort to move away from affiliate Alibaba Group Holding Ltd, the Wall Street Journal reported on Thursday.
Fashion