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Sales decline at Under Armour: Home market of North America weighs on results

Under Armour concluded fiscal year 2025 with a significant drop in sales. Nevertheless, the US sportswear manufacturer believes that it is well on its way to realigning its brand. “We are in the process of reigniting our brand relevance,” explained chief executive officer (CEO) Kevin Plank on Wednesday, when presenting the latest financial...

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WRAP’s Textiles 2030 becomes UK Textiles Pact

Textiles 2030, the UK’s voluntary initiative supporting businesses and organisations within the fashion and textiles industry, will from now on be called the UK Textiles Pact. According to a press release by WRAP (Worldwide Responsible Accredited Production), the climate action NGO behind the initiative, the move will “bring the agreement in...

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Francesco Scognamiglio buys back his brand and aims to relaunch with an event in naples

The designer Francesco Scognamiglio is buying back his brand from the Malaysian fund Y Capital Management, to whom he had sold it in 2021, following difficulties encountered during the Covid period. He aims to relaunch with an event in Naples, scheduled for June. For the Neapolitan designer, it marks a return to his roots and a fresh start,...

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Lojas Renner reports 59 percent increase in net profit in Q1 and shares rise

Last Friday, May 9, Lojas Renner (LREN3) shares closed on the B3 stock exchange up by 4.92 percentage points, at 16.20 Brazilian real. The increase occurred after the company’s first quarter report, released the previous day, May 8, which reported a net profit of 221 million Brazilian real, 58.7 percent higher than the same period last year. The...

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AAFA, FDRA and NRF welcome US-China tariff pause, call for long-term deal

US apparel and footwear trade associations have welcomed the US and China’s 90-day pause on heightened tariffs. Yet, while the temporary agreement has somewhat calmed the waters of the two regions’ trade war, organisations are still calling for a long-term deal that will mitigate rising costs and prices. This was reflected in a statement from...

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On boosts sales by 43 percent, while net profit suffers

Swiss sportswear and footwear brand On had a strong start to 2025. Revenue continued to rise during the first quarter of 2025, driven by the strength of its direct-to-consumer channel and the positive reception of its latest collections. However, its net profitability was affected by various external financial factors, which moderated the final...

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Frasers Group launches retail media network Elevate

British retail group Frasers Group Plc has launched a new retail media network. Dubbed Elevate, the network is based on the group’s first-party data. It is designed to help brand partners reach consumers through highly personalised advertising, Frasers announced on Tuesday. With the newly launched platform, Frasers aims to enable brands to...

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Borletti Group acquires minority stake in True Religion

Investment firm Borletti Group, founded by Maurizio Borletti and Paolo De Spirt, is strengthening its position in the fashion lifestyle market after acquiring a minority stake in American denim and casualwear brand True Religion, controlled by Acon Investments. The Borletti Group, which has more than 20 years of experience investing in premium...

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Report: Saks Global working with advisors on liquidity and financing strategies

US luxury department store chain Saks Global enlisted financial and legal consultants to secure its liquidity. As industry magazine Women's Wear Daily (WWD) reported on Monday, the company is working with financial experts from Bank of America and PJT Partners, as well as law firms Willkie Farr & Gallagher and Kirkland & Ellis. While PJT...

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Andie acquires Richer Poorer to accelerate growth

US swimwear brand Andie has acquired Richer Poorer, a company specialising in comfortable clothing such as nautical-inspired t-shirts and jumpers, according to Business of Fashion (BoF). Although the financial terms were not disclosed, the transaction was carried out with Andie's own funds and marks its first acquisition since its founding eight...

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Trump maringally lowers US tariff barrier for Temu and co.

Even after the temporary easing of the trade dispute, Donald Trump continued to make business difficult in the US for Chinese online retailers like Temu and Shein. Until recently, they benefited from the fact that goods deliveries with a value of less than 800 dollars were exempt from tariffs. Since the beginning of May, however, a tariff of 120...

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Wall Street opens with strong gains due to US-China trade truce

Washington – The New York Stock Exchange opened this Monday with pronounced gains after the US and China announced the suspension for 90 days of most of the mutual tariffs, in a de-escalation of the trade war launched by Donald Trump. Around 1.50pm GMT, the Dow Jones was up by 2.47 percent, the Nasdaq index increased by 3.47 percent and the...