China’s scrapping of travel curbs this month is expected to revive demand in the global luxury retail market, but many consumers see more reasons to do their high-end shopping locally on the tax-free island of Hainan.
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.