Gap Inc on Thursday reported a surprise profit in the first quarter, and its shares jumped 16 percent in extended trading as the apparel retailer cited restructuring efforts and easing supply chain costs.
The founders of fast fashion retailer Boohoo doubled their pay to about £1m each last year as they were handed hefty bonuses despite missing financial targets.
Investment firm Permira has acquired the majority of Gruppo Florence in a deal which a source close to the matter said valued the hub of Italian luxury clothing and leather goods manufacturers at more than €1 billion ($1.1 billion).
The LVMH-owned brand opened its new lounge and restaurant at Hamad International Airport in Doha, Qatar.
Italy’s Armani Group said on Thursday its sales jumped 18 percent in the first quarter thanks to a rebound in Asia and more modest growth in the United States, where a slowdown is expected in the coming months.
Ralph Lauren Corp beat profit estimates and reported a surprise rise in fourth-quarter revenue on Thursday as its new seasonal collections resonated with affluent shoppers at a time when luxury spending has cooled in the United States.
On Thursday, E.l.f. announced its fourth-quarter earnings and full fiscal year earnings for 2023; reporting a 48 percent increase in year-end net sales to $578.8 million.
Express, Inc. completed its joint acquisition of the menswear brand Bonobos in partnership with WHP Global for a combined purchase price of $75 million, the company announced Wednesday.