Asos Says It Will Take ‘Necessary Actions’ After 18% Drop in Sales
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth.
The department store owner told its landlord this month that it couldn’t make lease payments due to the effects of the Covid-19 pandemic.
Allapattah, near the Miami River, saw flashy events during the fair and is the home of two vast, new arts institutions. Both were built by real estate investors.
Beiersdorf has agreed to buy Bayer's Coppertone brand of sun-care products, bolstering its line of skin creams that already includes the Nivea brand.
Perry Ellis said the decision was made after a major licensor refused to consent to Randa's acquisition of the company.
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A special committee formed by Perry Ellis to evaluate the proposals said it would look into the offer, open talks with Randa and grant it due diligence access.
The men's accessories maker offered to buy Perry Ellis for $28 per share, 50 cents higher than the offer from Perry Ellis founder George Feldenkreis, which the company agreed to in June.
The company was put at the centre of an unexpected bidding war on Monday after Randa Accessories made a $444 million offer, higher than the $437 million offer from founder George Feldenkreis.
Randa's $28-per-share offer is 50 cents higher than a competing offer from the apparel brand's founder George Feldenkreis, and could derail Feldenkreis' deal to take the company private.
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Founder George Feldenkreis had said that going private would let the company take a long-term view to confront challenges facing the clothing industry.
On the back of events with Drake, Virgil Abloh, Opening Ceremony and Made LA, American Express’s Janey Whiteside tells BoF how fashion’s rising cultural significance with consumers is informing its collaboration strategy.
Prada’s co-chief executive officer and lead creative director speaks to Tim Blanks as the Italian fashion house prepares to launch a major new store in Miami, set to serve as a template for the future.
For the year, the company reported net income of $14.5 million, or 95 cents per share, swinging to a profit in the period.
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth.
The effort to force TikTok’s Chinese parent company ByteDance Ltd to divest its ownership of the social media platform would quickly become law under a plan outlined Wednesday by House Speaker Mike Johnson.
The French publisher has appointed Tunis-based firm Nissa Editions Group as the local licensing partner and Cairo-based fashion media veteran Susan Sabet as both managing director and editor-in-chief of the new title.
The US Federal Trade Commission (FTC) is preparing to sue to block Coach parent Tapestry’s $8.5 billion deal to buy Michael Kors owner Capri Holdings, NYT Dealbook reported on Wednesday, citing people familiar with the matter.
Harvey Nichols has named Julia Goddard chief executive following the departure of Manju Malhotra — who held the post for 25 years — in late 2023.
The capital injection will strengthen the company’s earlier pivot from being an African designer e-commerce site to being a business-to-business venture helping emerging brands enter global retailers.
The German sportswear company now expects to generate operating profit of around €700 million ($743 million), an increase from the previous target of €500 million.
Amid a luxury slowdown, strong performance by LVMH’s perfumes and cosmetics and selective retailing divisions show a healthy appetite for beauty.