The American lifestyle group reported net sales of $1.09 billion in the fourth quarter on Tuesday, representing a year-over-year decline of 6.9% which was largely due to reduced store traffic and occupancy restrictions.
Collection structure, product range, sourcing, logistics and sustainability are the key elements that will undergo radical changes in the high-end textile and apparel sector, according to a study by Sistema Moda Italia.
After announcing the closure of 500 stores in Europe, and 600 redundancies in Spain, the beauty retailer has merged its Italian, Spanish and Portuguese subsidiaries, now all led by Italy’s former country manager.
The Japanese cosmetics giant announced an 18.6% decrease in its full-year sales on Tuesday, falling into loss as the Covid-19 pandemic took its toll on the company’s operations, especially on its home market.
Shares in Future Group companies jumped nearly 10% on Tuesday after an Indian court overturned an order that had stalled Future Group’s $3.4 billion deal to sell its retail assets to conglomerate Reliance Industries Ltd.
In three years, the site created by David Benhaim and Michael Holzmann has become a key player in the French resale market. After growing by over 200% last year, Wethenew is now setting its sights on the rest of Europe.
Britain's biggest sportswear retailer JD Sports Fashion is likely to build a distribution centre within the European Union and create around 1,000 jobs there to avoid paying post-Brexit tariffs, its chairman said.