TOKYO, Japan — Fast Retailing Co., Asia’s largest apparel retailer, rose to a record in Tokyo trading after saying warmer weather and an extra Sunday in March fueled the biggest monthly sales jump in more than three years.
LONDON, United Kingdom — According to an estimate released this week by Credit Suisse, Inditex, the Spanish company that owns ‘fast fashion’ giant Zara, will achieve online sales of over 600 million euros in 2013, almost double that of 2012, the results of which will be announced next week.
As materials, transportation and labour costs rise, putting pressure on margins, producers of fast fashion face growing challenges that only some will survive.
Uniqlo-parent lifts forecast as Q1 profit jumps (Reuters) “Fast Retailing Co raised its annual profit forecast to a record after sales rose at home outlets of the Japanese retailer’s flagship Uniqlo casual clothing chain and price cuts and chilly autumn weather spurred a quarterly profit jump.” Marks & Spencer loses £270m stock market value (Guardian) “Almost £270m was wiped off the stock market value
Gap Gains With Zara Responding to Fast-Fashion Fatigue (BusinessWeek) “Call it fast-fashion fatigue. Millennials, after years of settling for apparel retailers’ downgraded fabrics and workmanship, are pushing for higher- quality clothing again, and chains are getting the message. Gap Inc., the biggest U.S. specialty-apparel retailer, and Fast Retailing Co. Uniqlo are able to charge more for better basics.” Hermès lifts