There’s a heap of consumer cash waiting to be spent -- £40 billion to be precise. That’s the amount of lockdown savings Britons are only too willing to splurge in the post-Covid economic recovery, research has found.
The owner of brands including Umbro and Lee Cooper announced Q1 revenue of $23.6 million on Thursday, representing a 15% year-over-year decline, largely due to a 41% decrease in the company’s women’s segment.
South African conglomerate Steinhoff said on Friday it had set the price of shares in discount retailer Pepco at 40 zlotys (8.8 euros) in its Warsaw listing, giving the company a market capitalisation of 23 bn zlotys.
Amanda Wakeley is the latest UK fashion firm to collapse due to pressures created by the ongoing pandemic. The firm announced Friday that it had gone into administration with some jobs being cut as a buyer is sought.
Farfetch has reported another big leap forward in terms of gross merchandise value (GMV) and digital platform GMV as it continues benefit from consumers shifting online both generally and due to the pandemic.
China's top e-commerce platform Alibaba Group Holding Ltd on Thursday posted its first quarterly operating loss since going public in 2014 due to a record anti-monopoly fine by the country's market regulator.
Italy's Tod’s could further strengthen its ties with LVMH but there are no ongoing talks and no decision has been made, a top Tod’s executive said after the French giant increased its stake in the group.