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.
Amazon.com Inc beat Wall Street expectations for first-quarter revenue on Thursday, as the e-commerce giant continued to benefit from the COVID-19 pandemic-driven online shopping boom, sending its shares up 4% in extended trading.
The health crisis has upended the retail landscape by tipping the scales in favour of companies with strong e-commerce platforms.
Amazon said it expects operating income for the current quarter to be between $4.5 billion and $8 billion, which assumes about $1.5 billion of costs related to COVID-19.
Net sales rose to $108.52 billion in the first quarter ended March 31 from $75.45 billion, beating analysts’ average estimate of $104.47 billion, according to IBES data from Refinitiv.
By Akanksha Rana and Jeffrey Dastin
Fast-growing start-ups like Hettas, Saysh and Moolah Kicks created sneakers designed specifically for active women. The sportswear giants are watching closely.
The companies agreed to cap credit-card swipe fees in one of the most significant antitrust settlements ever, following a legal fight that spanned almost two decades.
In an era of austerity on Wall Street, apparel businesses are more likely to be valued on their profits rather than sales, which usually means lower payouts for founders and investors. That is, if they can find a buyer in the first place.
The fast fashion giant occupies a shrinking middle ground between Shein and Zara. New CEO Daniel Ervér can lay out the path forward when the company reports quarterly results this week.