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.
The Japanese sporting goods company released its annual results Monday, revealing that net sales declined to 328,784 million yen (around $3.1 billion) due to the impact of Covid-19. Profits decreased 14.9 percent to 152,858 million yen ($1.4 billion).
Globally, the firm was hit hardest at home, across Southeast and South Asian regions and in South Korea and South America, where sales dropped at least 22 percent. Greater China felt the smallest impact, marking a 4.2 percent decline.
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.