Europe's biggest pure online fashion retailer trimmed its sales and profit outlook for the full year after quarterly results fell short of analyst expectations even though it reported a record number of customers.
Online retail giant Amazon.com Inc , whose entry into Australia last year rattled established bricks-and-mortar retailers, posted a modest loss in its earliest days in the country, corporate filings show.
Desigual CEO Thomas Meyer has acquired a 10% stake in the Spanish fashion brand, which was purchased by the Eurazeo investment firm in 2014. Meyer now becomes the sole shareholder of the Barcelona-based label.
Safilo said on Thursday it expected a 3 percent decline in full-year 2018 sales at constant currencies after poor sales in Europe and ongoing weakness in North American department stores hit its second-quarter.
Giorgio Armani, which posted falling sales and profits last year, warned on Thursday that revenues and margins will continue to slide for the next two years before the company returns to growth in 2020.
A pick-up in European sales proved the bright spot for Hugo Boss in the second quarter, as the German fashion house pursues a turnaround in its home market and updates its ranges to try to draw in younger shoppers.
Fitbit Inc on Wednesday outpaced Wall Street estimates for quarterly results as its strategy of adding smartwatches to its product line got a boost in the second quarter with higher sales for ‘mass-appeal’ Versa.