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Foot Locker posts slight uptick in Q1 sales, tops profit estimates

New York-based athletic retailer Foot Locker has reported a 1 percent year-on-year increase in sales in the first quarter of the year. In the quarter ending April 30, sales came in at 2.175 billion dollars compared to 2.153 billion dollars a year earlier. But comparable-store sales were down 1.9 percent, with apparel significantly outpacing...

3 hours ago

Business |In Pictures Featured

Vestiaire Collective opens new Paris headquarters

Luxury resale platform Vestiaire Collective has opened its new headquarters in Paris featuring an innovative, eco-designed space that puts employee wellbeing at the forefront and offers a new flex-office approach to a hybrid model between the office and remote working. The B Corp certified company has transformed a historical Parisian building...

4 hours ago

Business

Ted Baker selects potential buyer, Sycamore steps down

Ted Baker has announced in an update of its ongoing formal sales process that its board has selected a potential buyer. While the process may take several weeks and the retailer reinforced that an offer may not be made, it did say it would be going into a process of confirmatory due diligence with the unnamed firm. The selection comes over a...

4 hours ago

BusinessFeatured

Gymshark FY revenue up 54 percent as profits widen

Gymshark Group has reported a 54 percent increase in revenue in the year to July 31 2021. The sportswear giant made net revenue of 401.9 million pounds, up from 260.7 million pounds a year earlier, according to filings at Companies House. The Solihull-based group’s profit before tax increased to 45.4 million pounds from 30.4 million pounds a...

5 hours ago

Business

Weird Fish accelerates oversea expansion with Next and Zalando partnership

British clothing brand Weird Fish has announced new partnerships with online retailers Next and Zalando as part of a plan to grow its overseas reach and e-commerce division. The casualwear label will be introducing a full range of womenswear and menswear across both of the partners’ platforms, adding to its current online presence with the likes...

5 hours ago

Business

Macy’s makes number of sustainable commitments through new partnerships

Off-price retailer Macy’s Inc. has announced it is joining a number of initiatives and partnerships with the aim of advancing its sustainability and community-centred priorities. The retailer has revealed that it has joined the Better Cotton organisation in support of its goal to use 100 percent “preferred materials” in its exclusive brands by...

5 hours ago

Business

Designer Brands appoints new president of DSW Designer Shoe Warehouse

Footwear retailer Designer Brands has announced the appointment of Doug Howe to president of DSW Designer Shoe Warehouse, one of its retail concepts, as well as to the role of executive vice president of Designer Brands. At DSW, Howe will be responsible for day-to-day leadership of the company, overseeing its direct-to-consumer channels while...

6 hours ago

Business

Richemont shares plummet after expectations omit YNAP sale

Share in Richemont fell sharply on Friday, the lowest in two years since the pandemic, after the luxury group missed expectations and failed to address the uncertainty regarding its divestment of YNAP, the online luxury and discounting sites. Last year discussions emerged with Farfetch as a possible contender, but complications with various...

20 May 2022

Business

Ulta Beauty launches retail media network

Beauty retailer Ulta Beauty has announced the launch of a new retail media network, UB Media, which will offer brands advertising opportunities through leveraging its beauty community, Ultamate Rewards. Building on its existing Digital Marketing Partner Programme, the feature will allow brand partners to access a digital strategy centred around...

20 May 2022

Business

US Cotton Trust Protocol doubles participation in one year

The US Cotton Trust Protocol has announced a new milestone for the 2021/22 crop, doubling the programme’s participation since its pilot last year. The initiative is focused on setting a new standard for sustainable cotton production which pushes for transparency and reducing environmental footprints. “During our second year we doubled the number...

20 May 2022

Business

Marks & Spencer to launch alumni mentoring programme

British department store Marks & Spencer has announced the launch of its first alumni mentoring programme, designed to aid in the development of its former and current colleagues. Coming as an extension of its ongoing mentoring scheme, the new programme hopes to keep the retailer’s network of alumni as active members and further allow current...

20 May 2022

Business

Burberry bans exotic skins following seven year PETA campaign

Luxury fashion label Burberry has announced it will no longer be using exotic skins in its products following a lengthy campaign by People for Ethical Treatment of Animals (PETA). The animal rights organisation, which became a shareholder of Burberry during the pandemic, has zoned in on the fashion house over several years, demanding it to halt...

20 May 2022