The retailer, known for its logo T-shirts and bright colours, reported adjusted profit before tax of £21.9 million ($24 million), compared with a £12.6 million loss a year earlier. The shares rose as much as 13 percent in London.
Starting from last night, lights in around 95 Valentino’s boutiques around the globe were to be turned off nightly at 10 p.m., the company said on Friday, adding it estimates a daily decrease in energy consumption of over 800 kWh.
The German sportswear giant has broken its silence over the dispute with Ye, the artist and designer formerly known as Kanye West, who accused the brand of effectively shutting him out of his namesake sneaker line in a series of now-deleted Instagram posts in August and early September.
The global textiles industry is producing more than ever before, but shifts from conventional materials to lower-impact alternatives have stagnated, according to a report published Wednesday by non-profit Textile Exchange.
Shares of Tesla Inc pared early gains while Twitter Inc surged on Tuesday after reports that billionaire Elon Musk proposed to go ahead with his takeover of the social media platform at $54.20 per share.