Britons throw away £12.5 billion worth of clothing every year, much of it simply sitting in landfill sites, according to new research. And behind that is a story of how modern fast fashion creates a throwaway culture.
The United States opened the way for more exemptions from its steel and aluminium tariffs on Friday, after pressure from allies and lawmakers, further diluting the measures just a day after they were formally announced.
US luxury retailer Neiman Marcus Group announced itself profitable in the second quarter with a net profit of $346.3 million compared a $140.6 million in the year-ago period. Revenues rose 6.2% on last year, said NMG.
High-end British department store Harvey Nichols will team up with online fashion retailer Farfetch to sell accessories and clothes through the platform as it looks to boost web sales, the companies said on Monday.
There was a modest reduction in UK consumer spending last month, according to card payment specialist Visa. It said Monday that spending fell 1.1%, which followed a 1.2% reduction in January, but fashion dropped 1.6%.