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.
German sportswear company Puma raised its 2021 sales outlook on Friday, boosted by strong second quarter demand, especially in North America.
Puma said it now expects 2021 currency-adjusted sales to rise by at least 20 percent, up from its previous forecast of mid-teens sales growth for the year.
It also specified full-year operating profit guidance, now expecting earnings before interest and taxes (EBIT) between €400 and 500 million ($472-590 million).
Second quarter currency-adjusted sales nearly doubled to €1.589 billion and EBIT swung to a profit of around €109 million, Puma said.
By Riham Alkousaa; Editor: Maria Sheahan
Krishna Nikhil has stepped down for family reasons after just over 18 months at the helm of eco-innovation brand, the company said.
The luggage and lifestyle brand is expanding its product and marketing strategies while launching collaborations and pop-up stores as its founder, Shay Mitchell, eyes expansion and profitability after five years in business. BoF learns more.
Richemont, owner of jeweller Cartier, said on Wednesday it would not inject any cash into online luxury retailer Farfetch, following a report that the latter was exploring going private.
Consumer spending over Thanksgiving Weekend may have exceeded expectations, but shoppers may be stretching their wallets too thin, analysts say.