Fashion conglomerate Shandong Ruyi has brushed aside a sale of textile maker Lycra proposed by Lycra's creditors and is instead looking to publicly float the business, two people with direct knowledge told Reuters.
Fashion giant Inditex has pledged to maintain workers' rights throughout its supply chains and the stability of payments to suppliers, as the garment industry wrestled with a plunge in orders during the COVID-19 crisis.
The weather played less of a part than usual in sales at Fast Retailing’s Uniqlo chain during July with the company saying on Tuesday that its Japanese sales (including online) rose 4.7% year-on-year during the month.
Amazon on Thursday beat Wall Street's estimates for second-quarter revenue as coronavirus-driven lockdowns pushed more people to shop for groceries and other essential and non-essential items on its platform.
Facebook beat analysts' estimates for quarterly revenue on Thursday, as businesses used its digital advertising tools to tap a surge in online traffic during the pandemic even as they slashed marketing budgets elsewhere.
PayPal reported an 86% jump in Q2 profit on Wednesday as the e-commerce payments processor benefited from the shift to online spending amid the coronavirus pandemic. Net income increased to $1.53 billion.