Next Plc shares plunged as the UK retailer warned of a challenging year ahead and repeated profit and sales will probably decline this year.
“Adidas will withdraw its opposition to the Black Lives Matter Global Network Foundation’s trademark application as soon as possible,” the company said in a statement, without giving a reason for the decision.
The American retailer confirmed Tuesday that it has eliminated less than 3 percent of its corporate headcount as part of reorganisation efforts.
Lululemon Athletica Inc forecast annual sales and profit above Wall Street estimates on Tuesday, betting that demand for its pricier yoga wear and athleisure clothing would hold strong even as inflation drags consumer spending.
Alibaba Group is planning to split into six units and explore fundraisings or listings for most of them, it said on Tuesday, in a major revamp as China vows to ease a sweeping regulatory crackdown and support its private enterprises.
Next Plc has agreed to buy fashion and homeware brand Cath Kidston after the chain collapsed into administration in another casualty of Britain’s cost-of-living crisis.
Adidas AG and pop star Beyoncé have reportedly ended their partnership following disappointing sales, just as the German sportswear maker struggles with the fallout of the collapse of its Yeezy shoe alliance.
Burberry is paying €21 million to acquire a business unit from longstanding supplier Pattern, allowing the company to bring product development for technical outerwear in-house.