Articles by Jan Schroder
Despite a drop in sales, H&M increases annual profit by a third
The Swedish clothing group Hennes & Mauritz AB suffered a slight decline in sales in the 2023/24 financial year, but was able to improve its results thanks to successful cost-cutting measures. This is according to the latest annual report, which the parent company of brands such as H&M, Cos, Monki, Weekday, & Other Stories and Arket presented on...
BusinessMemberloading...
Danish clothing industry increases exports
Danish clothing suppliers were able to achieve a small increase in exports in 2024. This is according to the latest figures published by the industry association Dansk Mode & Textil (DM&T) on Monday at the start of Copenhagen Fashion Week. According to the figures, the industry's export turnover amounted to 40.9 billion Danish kroner (4.6...
BusinessMemberloading...
LVMH: Annual revenue declines by two percent
French luxury conglomerate Moët Hennessy Louis Vuitton (LVMH) felt the impact of challenging market conditions in fiscal year 2024. On Tuesday evening, the group announced declines in revenue and profit, as expected. Group revenue for the past year amounted to €84.7 billion. This represents a two percent decrease compared to the record year...
BusinessMemberloading...
Canada Goose taps new merchandising manager from Stella McCartney
Canadian clothing retailer Canada Goose Holdings Inc. has introduced a new executive. On Tuesday, the Toronto-based down jacket specialist announced the appointment of Judit Bankus as senior vice president of merchandising. In her new role, she will work closely with creative director Haider Ackermann to "develop and implement global...
Peopleloading...
Strong final quarter: Zalando exceeds profit target
Berlin-based online fashion retailer Zalando SE was able to exceed its own expectations in the final quarter of the 2024 financial year. In view of the surprisingly positive development over the Christmas period, the company increased its profit forecast on Wednesday evening. For the full year, Zalando now expects earnings before interest and...
BusinessMemberloading...
The Platform Group acquires majority stake in FirstWire
The Düsseldorf-based e-commerce group The Platform Group AG is expanding its extensive portfolio to include a financial platform. On Monday, the group announced that it had acquired 50.1 percent of the activities of Cologne-based FirstWire GmbH. The company, founded in 2015, operates Firstwire, a "digital platform for B2B financing solutions"...
BusinessMemberloading...
Now with a skate ramp: Vans redesigns flagship store in London
The US shoe and sportswear label Vans has reopened its flagship store in London’s West End with a new concept. The store at 214 Oxford Street, which first opened in 2019, is now all about skateboarding culture. A 200 square meter skate ramp made of Roman travertine is the eye-catcher of the interior, designed by Milan-based architecture firm...
Fashion loading...
After a mixed quarter American Eagle Outfitters lowers sales forecast
The US clothing group American Eagle Outfitters Inc. (AEO) presented mixed figures for the third quarter of the 2024/25 fiscal year on Wednesday evening and revised its sales forecast downwards. In the 13 weeks before November 2, group sales reached 1.29 billion US dollars (1.22 billion euros). This represents a one percent drop compared to the...
BusinessMemberloading...
Frasers Group reports decline in sales and profits in the first half of the year
The British retail group Frasers Group Plc has closed the first half of the 2024/25 financial year with losses in sales and earnings. The company also lowered its profit forecast for the current year on Thursday. In the 26 weeks up to October 27, group sales amounted to 2.54 billion British pounds (3.07 billion euros), a decrease of 8.3 percent...
BusinessMemberloading...
Following disappointing quarter, Foot Locker lowers forecasts
American retail group Foot Locker Inc. closed the third quarter of the 2024/25 fiscal year with a slight decline in sales and a large loss. In view of the unexpectedly weak results, the company lowered its forecasts for the full year on Wednesday. In the three months up to November 2, group sales amounted to 1.96 billion US dollars (1.87 billion...
BusinessMemberloading...