The UK’s supermarket clothing retailers will have every right to be concerned following news that supermarkets in Wales have been told not to sell any items of clothing during the country’s new 17-day lockdown.
Gap Inc. unveiled at a virtual investor meeting on Thursday that it expects to return to profitable growth next year, with plans to double the sales of its Athleta business to $2 billion over the next few years.
The French company behind Maybelline cosmetics and Garnier shampoo said on Thursday it was back to revenue growth in the third quarter as it performed well with Chinese customers and kept up its product launches.
French luxury group Kering confirmed a broad recovery in sales of high-end goods in the third quarter as Asian and U.S. demand helped revenues improve, though its star Gucci brand underperformed rivals.
After criticism that coronavirus financial support was being withdrawn or reduced too soon, the UK's Chancellor of the Exchequer has unveiled additional support for jobs and businesses hit by the second Covid wave.
As the world continues to deal with the mega-shock that the pandemic has delivered the fashion sector continues to deliver surprises too with the latest on Thursday being a report that Adidas is planning to sell Reebok.
The Anglo-German textiles firm blamed strong competition and the Covid-19 pandemic for a “difficult” trading year. Group revenue fell to £35.07 million in the 12 months to May 31 from £38.9 million a year ago.
Hermès' comparable sales picked up in the third quarter, rising 7%, and the Birkin bag maker said this positive momentum had extended into October after a strong rebound in Asia and surging online revenues.
Unilever had upbeat news on Thursday. Despite currency effects sending its turnover down overall, it released Q3 figures that showed underlying sales growth (USG) of 4.4%, and prestige beauty was buoyant.
The company wants to delay its rescue plan to save parts of the UK business. It's expected to apply for a 10-day extension of creditor protection as lockdowns in Wales, where it has its HQ, are hampering negotiations.