Latest Articles in Business

Redress Design Awards 2024: The past, present and future of the circular design initiative

The 14th annual edition of the Redress Design Awards were held today, during the ongoing Centrestage Hong Kong trade show, where a slew of new designers showcased collections made under the guidance of the educational NGO. Despite being rescheduled one day later due to the emergence of Typhoon Yagi, the event still drew in a sizable crowd made...

Business |Interview Featured

Robert Wun on Hong Kong homecoming, London and the meaning of couture

This week marked the first time London-based designer Robert Wun had brought his now synonymous theatricality to the runway in his home region of Hong Kong. Ahead of the anticipated occasion, the city itself had been brimming with excitement, and as such bestowed upon him the honour of being the first designer to host a fashion show in the Hong...

Business

G-III raises fiscal 2025 profit guidance

G-III Apparel Group reported net sales for the second quarter decreased 2 percent to 644.8 million dollars. Net income for the quarter rose to 24.2 million dollars or 53 cents and non-GAAP net income per diluted share increased to 52 cents. The company expects 2025 net sales to increase by approximately 3 percent to 3.20 billion dollars, net...

Business

Buckle's August comparable sales drop by 6.3 percent

The Buckle, Inc. net sales for the month of August decreased 6.6 percent to 105.1 million dollars. Comparable store net sales year-to-date for the period under review decreased by 6.3 percent. Net sales for the 30-week fiscal period decreased by 5.5 percent to 650 million dollars compared to the same period last year. Offering a mix of apparel,...

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Movado Group cuts forecast reflecting continued challenging environment

Movado Group’s second quarter net sales decreased by 0.7 percent or 0.3 percent on a constant dollar basis to 159.3 million dollars. The US net sales decreased 0.3 percent and international net sales decreased 0.9 percent or 0.3 percent on a constant dollar basis. Net sales for the first six months decreased 3.1 percent reported and on a...

Business

Tilly’s Q2 comparable sales decrease by 7.8 percent

Tilly’s second quarter net sales were 162.9 million dollars, an increase of 2.9 million dollars or 1.8 percent, while comparable net sales, including both physical stores and e-commerce decreased by 7.8 percent. Total comparable net sales for the month of August increased by 1 percent. For the third quarter, Tilly’s expects net sales to be in...

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Asos sells majority stake in Topshop and Topman

Online retailer Asos has sold a majority stake in Topshop and Topman in a new joint venture deal with Heartland, the holding company representing the interests of the Holch Povlsen family and their family business Bestseller. The joint venture will grant Asos “certain design and distribution rights” for the Topshop and Topman brands in return...

Business

Retraced introduces Due Diligence Guide geared for fashion industry

Retraced, the compliance platform for the fashion and textile supply chain, has published a new Due Diligence Guide. The white paper aims to demystify the legal frameworks reshaping fashion, helping companies reduce risks and enhance their social and environmental impact. Especially in view of new legislation being introduced to shape...

BusinessFeatured

ABF says "unfavourable" UK weather to impact Primark's H2

Associated British Foods (ABF), parent company of Primark, expects revenue growth in the second half to be around 4 percent, driven by a strong sales contribution from the continued store expansion programme. Like‐for‐like sales are expected to decrease by around 0.5 percent, with growth of 0.2 percent in the third quarter and a projected...

Business

Plus size clothing retailer Torrid's Q2 profit improves

Plus size apparel retailer Torrid’s gross profit margin for the second quarter was 38.7 percent, an improvement of 323 bps, net income rose to 8.3 million dollars or 8 cents per share, and adjusted EBITDA increased to 34.6 million dollars or 12.2 percent of net sales. However, net sales for the quarter decreased 1.6 percent for the second...

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J.Jill’s Q2 sales drop marginally, cuts outlook

For the second quarter, J.Jill’s net sales decreased 0.9 percent to 155.2 million dollars, while comparable sales increased by 1.7 percent for the quarter under review. For fiscal 2024, the company is lowering its guidance and now expects net sales to be about flat to up 1 percent and for adjusted EBITDA to decline in the range of 4 percent to 9...

Business

Aid by Trade Foundation publishes results of independent verifications of CmiA standards

The Aid by Trade Foundation (AbTF), known for cotton standards such as Cotton made in Africa (CmiA) and Cotton made in Africa Organic, has once again published its annual aggregated report on the verification and implementation of CmiA. This summarises the results of independent verifications of CmiA standards and thus offers the public...