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.
American Eagle Outfitters on Tuesday raised its annual revenue forecast, in a sign that demand for its apparel and accessories remained steady ahead of the crucial holiday season.
The company now expects annual revenue to be up mid single digits, compared with its prior forecast of a rise in low single digits.
Analysts on average had expected revenue to grow 2.61 percent, according to LSEG data.
By Juby Babu
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American Eagle Sees Second-Quarter Revenue Above Previous Forecast
The company had in May cut its full-year revenue forecast as demand eased for non-essentials, including apparel, due to still-high inflation.
The Japanese apparel chain will be launching its sister brand GU in the US later this year, targeting younger consumers with lower prices and a curated selection of trendy wares.
Canada, France and Ireland are among the countries working with home-grown fashion talent to create uniforms for their teams at this summer’s Olympic Games. For these small labels, it’s an unprecedented opportunity to capitalise on one of sports’ largest events.
The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering venue and file with the London Stock Exchange as soon as this month, a person with knowledge of the matter said.
The company, under siege from Arkhouse Management Co. and Brigade Capital Management, doesn’t need the activists when it can be its own, writes Andrea Felsted.