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.
Affirm Holdings Inc. reported a smaller quarterly loss in its maiden results as a publicly traded company on Thursday, as more people used its buy now, pay later service to shop online during the Covid-19 pandemic.
Affirm, founded by PayPal Holdings Inc.’s co-founder Max Levchin, reported a net loss attributable to common stockholders of $31.6 million, or 45 cents per share, for the second quarter ended Dec. 31, compared with a loss of $44.2 million, or 92 cents per share, a year earlier.
Analysts on average had expected a loss of 81 cents per share, according to Refinitiv IBES data. It was not immediately clear if the numbers were comparable.
By Noor Zainab Hussain
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.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.