By Reuters Published May 9, 2024 Canadian e-commerce platform Shopify forecast its slowest quarterly revenue growth in two years against the backdrop of an uncertain economy and tepid consumer spending, sending its shares slumping about 20% on Wednesday. Reuters The Toronto-listed shares hit their lowest in six months and the company was on track to … Read more
Translated by Nicola Mira Published May 8, 2024 In Q1 2024, net sales for Italian eyewear group Safilo were €277.2 million, down 1.8% at constant exchange rates and 3.5% at current rates. This was chiefly due to a sales downturn for Jimmy Choo (whose licence wasn’t renewed at the end of December 2023, and will … Read more
Translated by Nicola Mira Published May 8, 2024 German fashion e-tailer About You has reported a €3.2 million profit for its non-standard financial year that closed at the end of February 2024. A significant milestone for the Hamburg-based site founded in 2014, whose revenue in the period remained stable at €1.9 billion, equivalent to a … Read more
None of the parties involved are commenting, but as of Wednesday afternoon, it looks like Frasers Group is getting closer to a deal to take on Authentic Brands Group’s Ted Baker retail operations in the UK and Europe. Ted Baker The opportunity has arisen after the collapse of No Ordinary Designer Label (NODL), Ted Baker’s … Read more
Investment firm Inc & Co has announced the acquisition of Studio Pia – a British ethical and sustainable luxury lingerie brand. Studio Pia It said the “strategic move signifies the company’s expansion into the retail sector with an aim to ‘set new standards of excellence’ in the market”. The acquisition come ahead of the label … Read more
Boohoo Group reported its annual results (for the year to late February) on Wednesday and while they featured a sea of red ink, the online fast fashion retail giant talked of being “well positioned to drive future profitable growth.” PLT The FY24 results were “in line with market expectations, against [a] challenging market backdrop”, but … Read more
Crocs Inc. announced on Tuesday first revenues totalled $939 million, an increase of 6.2%, with Crocs brand revenues offsetting a double-digit decline in HeyDude sales. Crocs The Colorado-based firm said Crocs revenues increased 14.6% to $744 million, with DTC revenues increasing 18.3% to $282 million, while wholesale revenues lifting 12.5% to $462 million. North America revenues increased 9% to $383 million, and international revenues … Read more
E-commerce tech firm Rokt has appointed Marc Allsop to the role of head of EMEA, in addition to Mick O’Brien to the role of head of Australia and New Zealand, as it continues to bolster its leadership team to drive growth. O’Brien (left), Galvin, and Allsop (right) – Courtesy The executives will focus on business development in their respective … Read more
Revolve Group said first-quarter sales were $270.6 million, down 3%, as lower sales at a markdown offset an increase in full price sales for the three months. Revolve The owner of Revolve and Fwrd fashion e-commerce platforms said trailing 12-month active customers grew to 2,551,000 as of March 31, an increase of 5% year-over-year. Revolve segment sales dipped 1% to $229.6 million, while … Read more
Perry Ellis International, Inc. (PEI) announced on Tuesday an official partnership with the Miami Dolphins, further cementing its stake in the world of sports. Perry Ellis International partners with the Miami Dolphins. – Perry Ellis As part of the partnership, PEI will support various initiatives, including in-stadium visual experiences and serving as a support sponsor … Read more
