Karlie Kloss and Joshua Kushner Announce Plan to Revive Life Magazine
The announcement comes more than 20 years after Life, which was initially founded in New York City in 1883, stopped its regular publications.
Inditex managed to reduce stock-in-trade by 19 percent at the end of July, softening the blow to earnings.
In a joint agreement with global workers' union IndustriALL, the Zara owner has committed to ensuring health and safety standards are met and workers' rights to unionise are maintained.
The Zara owner reported a net loss of $465 million despite a 95 percent increase in online sales in April.
Inditex managed to rely on its online business to keep operations running, limiting the damage from shuttered stores.
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The Zara owner will open several of its smaller stores as the Spanish government eases some lockdown restrictions, according to a source close to the company.
Major brands including H&M and Adidas are working with the International Labour Organisation to commit to paying factories for finished goods.
The fashion giant's logistics centres in Spain have reopened, but the company is said to be taking measures to ensure staff safety.
The fast-fashion chain's operations have come to a halt as the coronavirus pandemic continues.
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Inditex reported a net profit of €1.17 billion ($1.3 billion) for the third quarter and forecasts full-year sales growth of up to 6 percent.
The Zara-owner has cut the number of stores it has in its home market, but is expanding the footprint of existing locations.
The clothing retailer said on Thursday it would split its current dual role of chief executive and chairman, leaving Pablo Isla leading the company as chairman and appointing COO Carlos Crespo as the new CEO.
The Spanish group missed third-quarter profit estimates and shares slipped 4.5 percent in initial trading, but like-for-like sales at the end of November grew 3 percent after a good start to the season.
The announcement comes more than 20 years after Life, which was initially founded in New York City in 1883, stopped its regular publications.
A deadline to submit initial offers passed on Thursday, with a final deal expected to close mid-April.
Shoppers “get bored very quickly,” Régis Schultz, JD Sports’ CEO, said.
British sportswear retailer JD Sports said trading conditions remained challenging after its like-for-like sales dropped in January, resulting in fourth-quarter growth of just 0.1 percent.
Luxury watchmaker Favre Leuba plans to unveil more than two dozen timepieces later this year, priced as much as 24,000 Swiss francs ($26,489), as part of a brand relaunch that seeks to expand the Swiss pioneer’s appeal beyond its majority Indian consumer base.
L Catterton, backed by French luxury group LVMH Moet Hennessy Louis Vuitton SE, is launching a new vehicle to invest in Indian consumer-sector companies as it increases the focus on the fastest-growing major economy in the world.
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.
The Swedish retailer recorded operating profit of 2.08 billion Swedish krona ($196 million), with operating margin more than doubling from the year before.