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Nike struggles amid sales slump and layoffs, forecasts margin pressure

Nike, a leading sports maker, is facing challenges in a year marked by declining sales and corporate layoffs, as it strives to regain momentum. The company's third-quarter results revealed a 9 percent revenue decrease to 11.3 billion dollars. The gross margin dropped by 330 basis points to 41.5 percent, net income fell 32 percent to 0.8 billion...

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In The Style bought out of administration by Alps Sourcing Limited

Fast fashion retailer In The Style (ITS) has been rescued from administration following a sale to UK-headquartered Alps Sourcing Limited. The move has saved 87 jobs in the UK, according to administrators at FTS Recovery. The insolvency firm announced the pre-pack sale in a press release, however, news had already broken yesterday (March 19) when...

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