The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
SAN FRANCISCO, United States — Gap Inc on Thursday reported a 43 percent fall in first-quarter sales, as the apparel retailer was forced to close its stores due to the COVID-19 pandemic.
Net loss came in at $932 million, or $2.51 per share, for the three months ended May 2, compared with a profit of $227 million, or 60 cents per share, a year earlier.
Net sales fell to $2.11 billion from $3.71 billion.
By Nivedita Balu; Editor: Amy Caren Daniel.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.