German sports giant Adidas said on Thursday it expects to bounce back to profitability in the third quarter after it plunged to a big loss in the second quarter when most of its stores were closed due to lockdowns.
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.
Fashion giant Benetton said Thursday that 2019 was an important milestone in its relaunch as its “economic-financial indicators show significant recovery and a reduction in losses compared to previous years”.
It’s been a weird year for fashion retail so far and Q2 in particular saw unprecedented global conditions, so it’s no surprise that the new Lyst Index is different from usual with Nike and Birkenstock's riding high.
Sandro and Maje owner SMCP's Q2 sales were “strongly impacted by Covid-19” but the company saw a “gradual sales improvement throughout quarter”. Digital boomed and Mainland China was even back to growth in June.
Mukesh Ambani’s Reliance Industries Ltd will pay between 240bn and 270bn rupees ($3.2-$3.6bn) to buy the Indian retail chains owned by Future Group, Mint newspaper reported on Tuesday, citing two sources.
Pitti, fashion’s most important menswear trade fair, has praised the EU agreement to create a 750-billion-euro coronavirus recovery fund, and revealed more details of its plans to welcome Dolce & Gabbana in September.
Indian shoppers are cautious about spending money during the ongoing coronavirus pandemic and aim to spend less on non-essential goods, such as apparel, which paints a grim picture for retail recovery, studies show.