Poland's biggest fashion retailer LPP faces a surplus of merchandise this year after closing stores in Eastern Europe, which is likely to erode its profits in the first half and squeeze profit margins in 2022.
T. Rowe Price Associates, one of the biggest investors in Kohl's Corp, said it plans to back all of the department store's directors, dealing a setback to Macellum Advisors as it tries to take control of the board.
Amazon has acquired Indian social commerce startup GlowRoad for an undisclosed amount, as the U.S.-based e-commerce giant looks to secure a piece of the burgeoning social commerce market.
The company reported a 22% contraction in revenue in the first quarter of 2022 after a 51% increase during the same period a year earlier.
French investment fund Eurazeo is acquiring a minority stake in honey-based haircare brand Gisou, launched by influencer Negin Mirsalehi and her partner Maurits Stibbe.
French-Italian eyewear group EssilorLuxottica SA reported a sharp rise in first-quarter revenue on Friday, helped by strong performance across most regions.
Gap Inc. announced on Thursday that its Old Navy president and CEO Nancy Green is exiting the business this week.
Authentic Brands Group announced this week a new distribution deal for its Reebok in South Korea, as the U.S. apparel and footwear group homes in on the Asian market.
French accessories and ready-to-wear label Destree has raised funds from investors including Sequoia Capital China and female celebrities such as Beyoncé, Rihanna and Gabriela Hearst.
Gucci owner Kering said on Thursday its sales rose 21% over the first quarter, as strong demand for its high-end fashion labels in the US and Europe helped offset disruption to business in China.
Thank goodness for lockdown savings and buy-now-pay-later services. It appears both will be key in consumers maintaining their spending habits despite increased pressure on household budgets, according to a report.
UK-based distribution firm Focus Brands has added to its global portfolio, acquiring the licences for American military apparel brand Avirex, and French sportswear brand Patrick.
Pepco’s latest set of results on Thursday showed “strong strategic progress and trading growth achieved despite a challenging trading environment” for the budget retail giant.
News of Farfetch’s big-league move into beauty dominated the headlines this week, but with its Browns unit also taking a deep dive into the category, the developments here are just as interesting.
E-tail giant Amazon has unveiled its new Buy With Prime offer in the US that expands Prime shopping benefits beyond its own webstore.
