Asos Says It Will Take ‘Necessary Actions’ After 18% Drop in Sales
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth.
As the coronavirus outbreak intensifies, Chinese outbound tourism comes to a standstill and retailers begin to assess the damage to business beyond China.
The outerwear brand generates about a fifth of its revenue from Asia.
Amid trade war tensions, Brexit and Hong Kong protests, the Italian fashion industry's revenue growth is slowing.
The parent company of Calvin Klein expects US tariffs on Chinese goods to cut earnings by about 20 cents and hit full-year revenue by the end of 2019.
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Amazon said it would spend $800 million in the second quarter to move to one-day delivery for its best customers, trying to maintain its fast-shipping advantage over rivals like Walmart.
The company has decided to close three flagship stores, including a Hollister store in New York's SoHo area.
The company, which is banking on the popularity of Jimmy Choo and Versace to offset weakness at Michael Kors, has been investing in new stores, event sponsorships and promotional contracts with movie stars.
The e-commerce behemoth came short of Wall Street projections for its quarterly sales and lowered its revenue forecast for the holiday season.
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Europe's biggest pure online fashion retailer said the unusually hot summer weighed on revenue growth and earnings.
This week, everyone will be talking about China's troubled tech sector, indie beauty brands and retail earnings. Read our BoF Professional Cheat Sheet.
The boost prompted the company to raise its full-year earnings forecast.
Europe's biggest pure online fashion retailer's quarterly results fell short of analyst expectations, even though it reported a record number of active customers.
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth.
The effort to force TikTok’s Chinese parent company ByteDance Ltd to divest its ownership of the social media platform would quickly become law under a plan outlined Wednesday by House Speaker Mike Johnson.
The French publisher has appointed Tunis-based firm Nissa Editions Group as the local licensing partner and Cairo-based fashion media veteran Susan Sabet as both managing director and editor-in-chief of the new title.
The US Federal Trade Commission (FTC) is preparing to sue to block Coach parent Tapestry’s $8.5 billion deal to buy Michael Kors owner Capri Holdings, NYT Dealbook reported on Wednesday, citing people familiar with the matter.
Harvey Nichols has named Julia Goddard chief executive following the departure of Manju Malhotra — who held the post for 25 years — in late 2023.
The capital injection will strengthen the company’s earlier pivot from being an African designer e-commerce site to being a business-to-business venture helping emerging brands enter global retailers.
The German sportswear company now expects to generate operating profit of around €700 million ($743 million), an increase from the previous target of €500 million.
Amid a luxury slowdown, strong performance by LVMH’s perfumes and cosmetics and selective retailing divisions show a healthy appetite for beauty.