The Swedish retailer recorded operating profit of 2.08 billion Swedish krona ($196 million), with operating margin more than doubling from the year before.
Major UK fast fashion retailers will change the way they promote the environmental credentials of their clothes after being accused of greenwashing by a UK watchdog.
The luxury parka retailer’s job cuts follow two quarters of single-digit sales growth after increases of more than 20 percent the previous two periods.
Premium skincare line Allies Of Skin announced a $20 million investment round on Mar. 26 with the funds earmarked for a wide US expansion. It’s the brand’s first institutional raise, having previously taken investment from family members and friends.
It’s the second time Alibaba has nixed a high-profile coming-out party for one of its main businesses.
The amount represents an acceleration on the pace of the company’s annual investments in Brazil after a 11.5 percent rise in 2023.
Asos Plc suffered a double-digit decline in sales in the first half as the fashion retailer was forced to heavily discount clothes to clear a buildup of last season’s unsold stock.
Valentino has scrapped its June runway shows for menswear and haute couture following last week’s announcement that creative director Pierpaolo Piccioli is exiting the brand.