Articles by Jan Schroder
Nike and Skims launch joint sportswear brand NikeSkims
The US sporting goods giant Nike Inc. and the shapewear brand Skims, co-founded by Kim Kardashian, unveiled a joint project on Tuesday. The two companies want to launch the new sportswear label NikeSkims together. The range will include training clothes, shoes and accessories for women. The label is set to celebrate its US premiere in spring The...
BusinessMember11 hours ago
Net-a-Porter to cease activities in China by March 20
Online fashion retailer Net-a-Porter has set its deadline for its withdrawal from China. The company published a statement on its Chinese website stating that sales activities in the country via the online shop, local app and other digital platforms will be discontinued on March 20. Following that, "after-sales services" such as returns and...
BusinessMember17 hours ago
OVS increases annual sales by six percent
The Italian clothing retailer OVS SpA achieved a solid increase in sales and made progress in operating profit in the 2024/25 financial year. This is according to selected key figures published on Tuesday by the parent company of retail chains such as OVS and Upim as well as clothing brands such as Stefanel. In the last financial year, which...
BusinessMember12 Feb 2025
Weak demand in the US and China: Coty reports Q2 sales decline
US-based beauty giant Coty Inc. experienced an unexpected decline in sales during the second quarter of its 2024/25 fiscal year, largely due to softening demand in China and North America. According to a statement released Monday evening, group revenue for the three months ending December 31 totaled 1.67 billion dollars, a 3 percent decrease...
BusinessMember11 Feb 2025
Ralph Lauren exceeds expectations again in the third quarter and sets itself higher targets
US fashion group Ralph Lauren Corporation once again exceeded expectations in the third quarter of its 2024/25 fiscal year. On Thursday, the company reported surprisingly strong growth in revenue and earnings, raising its full-year guidance once again. In the three months ending December 28, revenue reached 2.14 billion dollars, surpassing the...
BusinessMember6 Feb 2025
Tapestry exceeds expectations with strong quarterly results, raises outlook
Driven by robust growth at its core brand Coach, US fashion conglomerate Tapestry Inc. delivered surprisingly strong results for the second quarter of fiscal year 2024/25 on Thursday. In light of the positive performance, the company raised its full-year guidance. In the second quarter, ending December 28th, the group achieved revenue of nearly...
BusinessMember6 Feb 2025
Despite profit decline, Under Armour exceeds expectations in Q3
US sportswear provider Under Armour Inc. exceeded expectations in the third quarter of fiscal 2024/25, despite a significant decline in profits. On Thursday, the company subsequently announced a slightly more optimistic outlook for the full year. In the period from October to December, Under Armour generated revenue of 1.40 billion US dollars....
BusinessMember6 Feb 2025
Capri Holdings Reports Quarterly Loss of $547 Million
As expected, the US fashion group Capri Holdings Limited suffered significant revenue losses in the third quarter of fiscal year 2024/25. Negative one-off effects also resulted in a net loss of more than half a billion US dollars, according to an interim report published by the parent company of the Michael Kors, Versace, and Jimmy Choo brands...
BusinessMember5 Feb 2025
Despite a drop in sales, H&M increases annual profit by a third
The Swedish clothing group Hennes & Mauritz AB suffered a slight decline in sales in the 2023/24 financial year, but was able to improve its results thanks to successful cost-cutting measures. This is according to the latest annual report, which the parent company of brands such as H&M, Cos, Monki, Weekday, & Other Stories and Arket presented on...
BusinessMember30 Jan 2025
LVMH: Annual revenue declines by two percent
French luxury conglomerate Moët Hennessy Louis Vuitton (LVMH) felt the impact of challenging market conditions in fiscal year 2024. On Tuesday evening, the group announced declines in revenue and profit, as expected. Group revenue for the past year amounted to €84.7 billion. This represents a two percent decrease compared to the record year...
BusinessMember28 Jan 2025