Fast Retailing has cut its annual profit outlook as extra Covid restrictions in Japan and elsewhere dented footfall. But its nine-month and Q3 performances were broadly strong and Theory improved in the latest quarter.
Fast Retailing released H1 results on Thursday, plus its Japanese Uniqlo performance for March. Both reports showed the business is doing well in general, even if the H1 figures showed some smaller brands struggling.
Uniqlo owner Fast Retailing may have taken a 42% pandemic-linked hit in its latest year but it’s forecasting a 60%+ recovery in its operating profit in the current financial year that ends next August.
Alibaba's 6.18 Mid-Year Shopping Festival (running on Tmall and Taobao) has seen a luxury surge. Almost double the number of luxury brands are participating compared to the last big event, 2019’s Singles Day in November
The house of Azzaro has appointed Olivier Theyskens to be its new Artistic Director, in a surprise move sure to receive an enthusiastic response as he is regarded as one of the industry’s most naturally gifted designers.
Mark Howard Thomas has quit Helmut Lang, barely two years after being appointed creative director of menswear of the fashion house - leaving one month after presenting a critically acclaimed Lang show in New York.