The News In Brief
Retail
Profitability Hurdles Haven’t Slowed the Growth of Resale
The online market for secondhand apparel hit $20 billion in the US in 2023 and is expected to more than double over the next five years, according to a new report from ThredUp and Global Data.
Retail
H&M’s New CEO Takes Cue From Zara With Faster Fashion Strategy
The Swedish retailer recorded operating profit of 2.08 billion Swedish krona ($196 million), with operating margin more than doubling from the year before.
Retail
Asos and Boohoo Forced to Clarify Green Claims
Major UK fast fashion retailers will change the way they promote the environmental credentials of their clothes after being accused of greenwashing by a UK watchdog.
Retail
Canada Goose Cuts 17% of Roles as Consumer Pullback Persists
The luxury parka retailer’s job cuts follow two quarters of single-digit sales growth after increases of more than 20 percent the previous two periods.
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