New Look has this week completed its major recapitalisation that “significantly reduces long-term debt and provides financial strength and flexibility to deliver a sustainable trading platform for the company,” it said.
A U.S. judge on Monday approved a deal to rescue J.C. Penney from bankruptcy proceedings precipitated by the coronavirus pandemic, averting a liquidation that would have put the department store chain out of business.
The fashion consignment marketplace announced a net loss of $43.3 million, or $0.49 per share, for the third quarter on Monday, as gains in direct revenue failed to make up for declines in consignment and services.
Walmart Inc, the world’s largest retailer, is selling its retail operations in Argentina to South American supermarket chain owner Grupo de Narváez, pulling back as the country grapples with an economic crisis.
The brand has dismissed drastic changes in favour of plans seeking to adapt its workforce in order to minimise the impact on employees. CEO Alberto Ojinaga intends to "ensure the survival and stability of the company."
Colorado-based apparel and footwear group VF Corporation announced on Monday that it will acquire NYC streetwear brand Supreme for $2.1 billion. The company plans to achieve $1 billion in sales with the label by 2024.
Jewellery giant Pandora won't be closing any of its thousands of stores permanently as a result of the business downturn due to the pandemic. Its CEO said the business needs a seamless mix of online and offline.
Ennio Fontana, who has been general manager at Roberto Cavalli since October, has clear ideas on how to set the company on a new path, with plans covering every angle: collections, licenses, wholesale and retail.