The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Amazon Reports Quarterly Revenue Above Estimates

Amazon parcels. — Amazon Inc reported first-quarter revenue above Wall Street estimates. (Shutterstock)

Reuters

27 April 2023

Amazon Inc reported first-quarter revenue above Wall Street estimates on Thursday, helped by resilient demand for online shopping and its cloud services businesses.

The world’s biggest online retailer net sales of $127.4 billion in the first three months of the year, compared with expectations of $124.55 billion, according to Refinitiv.

By Akash Sriram and Jeffrey Dastin; Editor Arun Koyyur

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US Sues to Block $8.5 Billion Union of Coach, Michael Kors

Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.

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For Struggling Public Companies, Going Private Is No Panacea

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.