Latest Articles in Business

Walmart's FY2026 ESG report: climate progress and new sustainability targets

Walmart has fallen short of the 2025 climate target it had approved by the Science Based Targets initiative and has replaced it with a new goal running to 2031, according to the company's FY2026 ESG report published in July. Absolute emissions from Walmart's own operations, covering scopes one and two, fell 7.5 percent year over year to 14.4...

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Munich announces 65 redundancies and the closure of 15 stores in Spain

Madrid – Renowned Barcelona-based brand Munich, which specialises in the design and sale of fashion and footwear, has begun negotiations for a collective redundancy procedure. This will affect approximately 65 employees and involve the closure of 15 stores. The restructuring of its workforce and retail network is a result of the economic...

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The volume shift: How Asian online retailers move from individual parcels to bulk inventory

The landscape of international trade and e-commerce logistics across Europe has undergone a fundamental structural realignment. For years, the European Union’s long-standing low-value customs duty exemption—the de minimis threshold—allowed billions of individual parcels valued under 150 euros to flood into member states from Asian manufacturing...

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EU accuses Temu of hindering raid in Ireland

The European Union on Friday accused Temu of failing to hand over information during an inspection as part of a probe into the Chinese-owned online retailer. The EU's powerful antitrust sheriff said it carried out surprise raids between December 2 and 5, 2025, seeking evidence in an investigation looking at whether Temu received "potentially...

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El Corte Inglés drives Sfera's internationalisation with 28 new stores outside Spain

Madrid – Following its last Annual General Meeting exactly one week ago, the management of El Corte Inglés has now published the financial and non-financial reports for its 2025 financial year. The period ended on February 28, during which the company quietly continued to give a special international boost to Sfera, its fashion and accessories...

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Frasers extends Hugo Boss takeover offer after limited shareholder support

British retail giant Frasers Group has extended the acceptance period for its 2.3 billion pound takeover offer for Hugo Boss after securing backing from just 7.3 percent of independent shareholders by the initial deadline. The retailer's 38 euro-per-share cash offer, which values the stake Frasers does not already hold in the business at 1.7...

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US fashion industry poised for sourcing consolidation and AI integration, study finds

The US fashion industry is facing another year of uncertainty. From the IEEPA tariffs that were ruled unconstitutional by the Supreme Court to the expiring Section 122 tariffs that took their place to the new 301 and 232 tariffs – tariffs remain a top concern for US fashion businesses from brands and retailers to importers. The United States...

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Gordon Brothers submits bid for Harvey Nichols as sale process continues

Gordon Brothers, the US investment firm behind retailers including Laura Ashley and the owner of Poundland, has submitted a bid to acquire luxury department store Harvey Nichols, according to a report by Sky News. The offer was reportedly submitted ahead of this week's bidding deadline, with a further deadline now set for next week as owner Sir...

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Puma reports further revenue decline, remains in the red

Corporate restructuring and weaker demand linked to the Middle East conflict have impacted the sportswear manufacturer Puma's sales in the second quarter. Revenue fell by almost ten percent to nearly 1.7 billion euros (1.96 billion dollars), the company announced on Friday in Herzogenaurach. The wholesale business in the American and European...

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Aeffe: binding offer of 115 million euros for relaunch and safeguarding of jobs

A new meeting on the Aeffe dispute was held yesterday in Rome at Mimit. During the meeting, it was announced that the Ferretti family, the group's current owner, has submitted a binding offer for the company's relaunch. The offer was made together with Invitalia, the Oxy Fund and a Chinese industrial partner. The transaction, valued at...

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PETA secures stake in Reformation to up pressure on animal-made products

Animal welfare organisation People for the Ethical Treatment of Animals (PETA) said it has purchased stock in Reformation after the US womenswear brand debuted on the New York Stock Exchange yesterday. While the size of the stake was not disclosed, PETA confirmed it was enough to allow it to attend annual meetings where it plans to pressure...

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Inditex-backed Epoch Biodesign acquires Spanish plant to scale recycled nylon production

Madrid – London-based biotechnology start-up Epoch Biodesign has announced the acquisition of the former Domo Polymer nylon 6,6 polymerisation plant in Blanes, Gerona. The company specialises in the enzymatic biorecycling of pre- and post-consumer textiles. The acquisition has been described as a “fundamental step” towards its goal of moving to...