To achieve the IPO milestone, Shein will have to do a historic job of persuading sceptical investors, politicians and regulators that the controversies surrounding it aren’t an obstacle to its growth.

Success in Brazil will allow Pepkor to consider further expansion in other emerging markets, chief executive Pieter Erasmus said.

The athletic retailer now expects a full-year comparable sales decline of 8.5 percent to 9 percent, compared with a previous forecast for a decrease of as much as 10 percent.

Meta Platforms said it would appeal a judge’s ruling that a US regulator can seek to reduce the amount of money the social media company makes from users under 18.

The luxury e-tailer saw modest growth as aspirational luxury consumers cut back on nonessential spending. In its first quarter of the year that ended in September, Mytheresa’s gross merchandise volume — a measure of goods sold on the platform — rose 3 percent year over year to €204 million ($224 million), against a 13 percent increase in the previous quarter.

Fashion company Shein has confidentially filed to go public in the United States, according to two sources familiar with the matter, in what is likely to be one of the most valuable China-founded companies to list in New York.

A federal judge ruled the regulator can seek to reduce the amount of money the social media company makes from users under 18.

The decision would involve transferring 153 of 219 employees to Milan, almost 500 kilometres (311 miles) to the north by March.