Nike Inc cautioned on Thursday that gross margins would remain under pressure through the year as the world’s largest sportswear maker joined peers in warning of a blow from ramped up discounts and a rapidly strengthening dollar.
The beauty retailer announced a new subscription-based membership on Tuesday that allows shoppers to get same-day eligible items (based on delivery address and nearby locations) from Sephora delivered in as little as two hours.
The Chinese ultra-fast-fashion giant said it will reduce supply chain emissions 25 percent by 2030, outlining projects to drive greater energy efficiency and support a transition renewable power among its manufacturers.
The new store chain called Azorte, the first of which was launched in Bengaluru, will compete with the likes of Mango and Industria de Diseno Textil SA (Inditex)-owned Zara, and cater to Millennials and Gen-Z.
H&M launched a 2 billion Swedish crown ($177 million) cost savings drive on Thursday after reporting weaker-than-expected profits due to soaring input costs, slowing consumer spending and its exit from Russia.