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.
Associated British Foods maintained its full-year guidance after trading in line with expectations in its latest quarter and said its Primark fashion business would launch a UK trial of a Click & Collect service on children’s products.
The group said revenue for its third quarter to May 28 increased by 32 percent. Sales in its food businesses increased 10 percent which reflected price actions to recover input cost inflation and volume increases in the ingredients business.
All Primark stores traded during the period in contrast to last year when most stores were closed until the middle of April due to Covid-19 lockdowns.
By James Davey; Editor: Kate Holton
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Primark to Raise Prices as Cost Pressures Mount
The group said Primark has been unable to fully offset the cost pressures it is facing with savings and so will implement selective price increases across some of its Autumn/Winter stock from August.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
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.