New analysis shows that 162,000 tourists from outside the European Union sought refunds on VAT — a sales tax — exclusively in Britain in 2019. One fifth of those tourists are now claiming rebates in other parts of the EU, where the tax break still applies.
Fabiola Torres, who has also held leadership roles at Nike and Apple, will oversee the group's marketing, merchandising and store experience functions.
The company is anticipating further sales slumps this year. Its revenue will likely drop as much as 25 percent year over year to $190 million in 2024.
After rallying more than 120 percent last year, Shopify shares have struggled this year after the company had projected higher operating costs than expected for this quarter.
The online fashion specialist said it had built up net debts of £95m in the year to the end of February – down from almost £6m of net cash a year before – after losses widened 76 percent to £160 million.
Levi notified a federal judge in Oakland, California on Tuesday that it was dismissing the case with prejudice, meaning it cannot be brought again. Settlement talks began shortly after Levi sued in January.
Demand for retro shoe styles such as 'terrace' has helped boost sales of sportswear brands like Puma and its rival Adidas at a time when the sector has been hit by weaker consumer demand and excess stocks.
Kenvue beat Wall Street estimates for first-quarter profit on Tuesday, and said it would cut 4% of its global workforce amid the Tylenol and Band-Aid maker’s efforts to expand its key brands.
