Levi Strauss & Co. reported quarterly revenue that exceeded expectations, suggesting fears of a denim slowdown were overblown amid strong momentum in the direct-to-consumer business and improving trends in Europe.
Levi Strauss & Co is expected to report a fall in quarterly sales for the first time in six quarters, as penny-pinched shoppers shift away from pricier jeans to more formal clothing and non-denim styles.
Bestseller, C&A, H&M, Inditex, Otto Group, and PVH Corp. are now signatories of the legally binding Pakistan Accord, the companies said in a statement released Monday calling on other businesses to follow suit.
Primark reported better-than-expected trading over the Christmas quarter as shoppers returned to stores, parent Associated British Foods said on Tuesday, but cautioned economic headwinds may dent consumer spending in 2023.
The focus of the luxury industry is shifting back to China, with hopes that its high-end spenders will once again splurge on designer goods during Lunar New Year festivities as Beijing relaxes COVID curbs after three long years.