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Express Q4 comparable sales decline by 13 percent

Fashion apparel retailer Express, Inc. reported a net sales decrease of 14 percent to 514.3 million dollars in the fourth quarter of 2021, with consolidated comparable sales down 13 percent. Full year consolidated net sales decreased to 1,864 million dollars from 1,870 million dollars in 2021, with consolidated comparable sales flat. "We...

24 Mar 2023

BusinessFeatured

How the Korean Wave took over the Western fashion world

Unless you have been living under a rock, you may have noticed the surge of a not entirely new form of influential figure that has been taking over the world of luxury fashion in the West. While the stars of ‘Hallyu’ or the ‘Korean Wave’ – terms referring to the rise in popularity of South Korean popular culture – have already become regulars at...

24 Mar 2023

BusinessFeatured

Puig reports 3.6 billion euros in revenue for 2022

Beauty and fashion giant Puig has outlined its financial results for the year 2022, reporting an impressive 3.62 billion euros in net revenues, up 40 percent from 2021. The Spanish group, which operates beauty for the likes of Charlotte Tilbury, Jean Paul Gaultier, and Dries Van Noten, said EMEA was its highest performing region, representing 54...

24 Mar 2023

BusinessFeatured

Torrid swings to FY profit as Q4 losses narrow, appoints CCO

Plus-size womenswear brand Torrid returned to a profit in the year ended January 28 as its fourth-quarter losses narrowed. The US brand, which specialises in fashion for sizes 10 to 30, ended the year with a net income of 50.2 million dollars compared to a loss of 29.9 million dollars a year earlier. Adjusted EBITDA for the full year fell to...

24 Mar 2023

Business

True Religion introduces loyalty programme as part of digital-first transformation

American denim and sportswear brand True Religion has announced the launch of a new loyalty programme as it continues to implement a series of strategic initiatives to move towards becoming a digital-first, DTC brand. ‘True Fam’ aims to reward the brand’s most loyal customers with personalised experiences and exclusive perks in a bid to develop...

24 Mar 2023

Business

Hudson’s Bay officially goes fur-free

Department store chain company Hudson’s Bay has finally gone fur free after being subject to years of pressure from the People for the Ethical Treatment of Animals (PETA). The Canadian group, which operates a series of luxury retailers, including Saks Fifth Avenue, and online platform ‘The Bay’, will implement the move throughout its entire...

24 Mar 2023

Business

Dr. Martens names new independent non-exec director

Footwear retailer Dr. Martens has announced the appointment of a new member of its board following a “comprehensive search and selection process”. Andrew Harrison will be joining the team as an independent non-executive director from May 1, selected for his experience in a number of listed companies. Harrison is currently a managing partner at...

24 Mar 2023

Business

Snap introduces new solution to help businesses integrate AR

Social media giant Snap has launched a new enterprise solution designed to aid businesses in integrating augmented reality (AR) features into their owned and operated channels. The AR Enterprise Services (ARES) offer will specialise in retail companies, with the first to already have been involved being Princess Polly, Gobi Cashmere and Goodr....

24 Mar 2023

Business

Creator marketplace Everpress awarded B Corp status

Everpress, a marketplace allowing creators to design their own t-shirts, has been awarded a B Corporation certification, recognising it for its social and environmental efforts. The platform achieved an overall score of 92 after being measured on its impact in five areas; workers & community, diversity, equity, inclusion and economic impact. In...

24 Mar 2023

BusinessFeatured

Oxford Industries reports strong growth in sales and earnings

Oxford Industries, Inc. net sales for the full fiscal 2022 year increased 24 percent to 1.41 billion dollars, while earnings per share (EPS) on a GAAP basis increased 31 percent to 10.19 dollars and adjusted EPS increased 36 percent to 10.88 dollars compared to fiscal 2021. The company’s net sales in the fourth quarter increased 28 percent to...

24 Mar 2023

Business

Macy’s appoints Paramount Global CFO Naveen Chopra to its board of directors

Macy’s, Inc. has announced the appointment of Naveen Chopra, executive vice president and chief financial officer of Paramount Global, to its board of directors, effective April 1, 2023. Chopra, the company said in a release, is an established financial and operational leader who has served as chief financial officer for several high-growth,...

24 Mar 2023

Business

Goi Goi founders reacquire retailer from JD Sports

The founders of streetwear brand Goi Goi are the latest to retake their business from JD Sports Fashion after the conglomerate put a percentage of its portfolio up for sale. Goi Goi was founded in 1987 by Anthony and Christopher Donnelly and was initially acquired by JD back in 2013 when it fell into administration. According to Drapers, the...

23 Mar 2023