Gap Profit Up 40 per cent As Old Navy Drives Sales (WSJ)
"Gap Inc. (GPS) reported a 40% increase in profits for the first quarter, as sales were boosted by strong performance at the company's budget brand, Old Navy. Sales at that division rose 6.8% to $1.3 billion, accounting for nearly 40% of Gap Inc.'s total."
Versace and Kane: An Odd Mix That Works (NYT)
"They are an odd couple, Mr. Kane and Ms. Versace, in an industry of convenient marriages. Who in the fashion world could compete with her view of glamour? He, on the other hand, grasps the Versaces mentally — through pictures. He can’t help it, being born in 1982, when Gianni Versace did his first metal-mesh dresses."
Fashion sales up but future looks gloomy (Times Online)
"Sales of clothes, shoes and textiles were 9.5 per cent higher than in April last year, the biggest annual rise since July last year...Analysts said that retailers would struggle to keep up the momentum as households faced sluggish earnings growth and political uncertainty as well as tax rises and spending cuts."
LVMH says has no plans to sell Kenzo (Reuters)
"LVMH said it had no plans to sell Kenzo, denying a report in Les Echos that said the luxury group was looking for potential buyers for the loss-making fashion brand."
Osman Yousefzada stars in new V&A Fashion in Motion series (Telegraph)
"Yousefzada designs through instinct, his creations reflecting a deep-rooted sensibility and poetic approach, inspired both by history and the future. He is renowned for his innovative cutting and dramatic draping, and so contemporary dancers will also be on hand to demonstrate the extraordinary way in which his designs move on the human form."