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 expects its Primark fashion chain to trade strongly in the United Kingdom when stores are allowed to re-open again after Covid-19 lockdowns, its finance chief said on Thursday.
“We know that people will welcome us back,” John Bason told Reuters.
He noted that in Austria, where Primark stores re-opened three weeks ago, like-for-like sales year-on-year were already positive.
Earlier, AB Foods warned it expected to lose sales worth 1.1 billion pounds ($1.6 billion) from the lockdown of Primark stores in its first half to February 27. It expects to lose a further 480 million pounds ($679 million) in its second half.
Reporting by James Davey; Editing by Kate Holton.
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.