Shares of Versace Owner Capri Seen Falling 30% If Deal With Coach Owner Tapestry Fails
Since the merger announcement, Capri has reported weaker-than-forecast earnings twice, spurring concern about its performance in the coming quarters.
This week, the question was more pressing than ever as a US presidential election, which has dominated the divided country’s cultural conversation this year, approached an end.
The season represents about 20 percent of annual retail sales each year, and stores need some relief after enduring months of turmoil as the health crisis roiled the world economy.
The denim brand reported a 62 percent drop in net revenue in the second quarter and said it will cut 700 jobs in order to save $100 million annually.
With retailers looking to sell old inventory and seasonless basics, new orders for factories in garment hubs like Bangladesh are down by as much as 45 percent compared to last year.
ADVERTISEMENT
You’re invited to the BoF Professional Summit on How to Build a Responsible Fashion Business, broadcast live on 17 June 2020.
From billboards to Pinterest, there are new opportunities for brands looking to get a bigger bang for their advertising buck.
But the American company is facing a mounting crisis at home, where it will furlough all its retail store staff.
As American parents are expected to spend $507 on average on school-related items in the upcoming season, retailers are urged to look towards consumers for product cues.
ADVERTISEMENT
With its latest martial arts-inspired collaboration, the brand joins the ranks of Converse, Swarovski and Levi’s as more global players partner with Chinese designers in the hopes of boosting profits. Will it work?
Shares of the denim company sank as much as 6.6 percent after Goldman Sachs issued its first sell rating.
For most of its 166-year history, Levi’s was known solely for its jeans. But in the last few years it’s built T-shirts and tops into a $1 billion business.
Earnings slipped 21 percent from the prior year, affected by $29 million of expenses associated with Levi's IPO.
Since the merger announcement, Capri has reported weaker-than-forecast earnings twice, spurring concern about its performance in the coming quarters.
The new scent, Zouzou, is the fashion house’s first new perfume since 2022.
Unilever Plc sales jumped more than expected in the first quarter as Chief Executive Officer Hein Schumacher pushes ahead with his turnaround plan and shoppers come back to premium brands.
President Biden signed the bill that gives China-based ByteDance 270 days to divest TikTok’s US assets or face a ban.
The Alphabet Inc. company said in a blog post Tuesday that it’s still working with the ad industry and regulators on the plan.
Overall revenues for the three months through March totalled 818 million euros ($874 million), above a company-provided analyst consensus of 786 million euros.
Embattled by weak demand and currency issues in Nigeria, the company is looking to slim down in order to return to growth.
EU lawmakers backed the Corporate Sustainability Due Diligence Directive by 374 votes to 235 against, with 19 abstentions.