Business

American Eagle expects low single digit drop in holiday sales, announces growth strategy

American Eagle Outfitters (AEO) has announced that the company expects fourth quarter adjusted operating income to exceed 95 million dollars compared to reported operating income of 0.5 million dollars and adjusted operating income of 77 million dollars last year and fourth quarter revenue is expected to decrease in the low single digits. The...

8 hours ago

Business

Selfridges profits fell 10 percent pre-Covid, but sales rose

Selfridges has reported a 10 percent drop in operating profit to 88 million pounds for the year ending 2 February 2020, just prior to the pandemic took a grip on the UK’s retail industry. Sales during the period increased 7 percent to 1.97 billion pounds, the company revealed in an update on Thursday. It came amid “a challenging retail backdrop...

9 hours ago

Fashion

Fashion: an artist's canvas in a post-pandemic world

The marriage of art and fashion is not only going strong, it’s renewing its vows. The annals of fashion history are peppered with the biggest names in art: Salvador Dalí sparked the imagination of Schiaparelli in the 30s, Piet Mondriaan inspired Yves Saint Laurent in 1965, Louis Vuitton partnered with Takashi Murakami in 2007 and Alexander...

20 Jan 2021

Business

Arcadia to permanently close 31 more stores, cut 714 jobs

Administrators of Arcadia are reportedly set to permanently close 31 of the group’s stores by the end of January, resulting in some 714 redundancies. The closing stores include the entire 21-strong store estate of Arcadia’s Outfit brand, The Times reports. Arcadia called in administrators from Deloitte at the end of November after its sales took...

20 Jan 2021

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