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.
NEW YORK, United States — US consumers' confidence in the economy rose in March to its highest level since December 2000, a survey showed on Tuesday, led by optimism for finding work and a brighter assessment of business conditions.
The Conference Board said its Consumer Confidence Index rose to a reading of 125.6 in March from an upwardly revised 116.1 in February. Economists polled by Reuters had forecast a reading of 114.0.
"Consumers' assessment of current business and labour market conditions improved considerably," said Lynn Franco, Director of Economic Indicators at The Conference Board. "Consumers also expressed much greater optimism regarding the short-term outlook for business, jobs and personal income prospects."
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
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.