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.
The Alphabet Inc. unit agreed to acquire Fossil Group intellectual property in a bid to boost the search giant’s nascent efforts in the category.
Sales of wearable devices nearly doubled last year to more than $300 million and now account for 14 percent of Fossil's watch revenue.
This week, how Lauryn Morris fused fashion and tech to design Snapchat Spectacles, while Tag Heuer and Fossil go all-in on smartwatches.
The watch and accessories maker posted revenue of $959.2 million in the period, which missed Street forecasts.
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With Shinola, and now Filson, the founder of watchmaking behemoth Fossil wants to bring integrity to accessible luxury. But can he profit from good intentions?
New management isn't changing the wearable maker's philosophy.
Bits and Bytes is a weekly roundup of the most important news in the fast evolving fashion-tech space.
Fossil agreed to acquire Misfit, a maker of wearable devices, for $260 million to shore up its technology as it pushes into smartwatches.
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Fossil Group Inc. on Thursday reported third-quarter earnings of $57.5 million. The results surpassed Wall Street expectations.
Fossil Group Inc. on Tuesday reported second-quarter net income of $54.6 million. The results surpassed Wall Street expectations.
Shares of Fossil Group fell Wednesday following weak quarterly revenue results and a disappointing outlook as a stronger dollar continues to cut into company's financial results.
For fashion brands, watches have emerged as a key vector of growth, often powered by licensing deals with Fossil Group, a watchmaking behemoth that designs, manufactures, distributes and markets million of watches per year.
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.