Prada Group’s sales driven higher by Miu Miu
In the first quarter of 2024, Prada Group’s revenues rose by 11 percent to €1,187 million, driven by the Miu Miu brand and beating market expectations by nearly €50 million. At constant exchange rates, the top line was up by 16 percent.
Primark’s sales, earnings rise
A strong rise in half-year profits at Primark helped Associated British Foods (ABF), the parent company of the fast-fashion retailer, lift its annual earnings guidance.
Golden Goose’s revenues rise 11% in Q1
Golden Goose said that in the first quarter of 2024 revenues rose by 11 percent year-over-year on a reported basis and by 12 percent at constant exchange rates, while “maintaining strong margins.”
The Platform Group posts strong 2023 sales
German e-commerce company The Platform Group (TPG), the owner of online footwear retailer Schuhe24 and other fashion platforms, reported strong full-year results for 2023, with sales and profits on the rise.
Asos’ losses widen but excess stock cuts ahead of target
Asos’ half-year losses widened as the British online fast-fashion retailer continued to deal with competition from its Chinese rival Shein, but it was ahead of target on shifting the mountain of excess stock built up during the Covid-19 pandemic.
Dr. Martens shares get a kicking as CEO quits after fifth profits warning
Dr. Martens’ shares slumped by more than a third to record lows and trading in the stock was briefly suspended in London as the UK bootmaker said that its chief executive, Kenny Wilson, would step down after issuing a fifth profit warning in three years amid continuing woes in its ...
Zegna expects negative organic growth in Q1
Ermenegildo Zegna more than doubled its bottom line in 2023 but warned that organic growth will be negative in the first quarter of 2024.
Levi’s to exit the footwear business
Levi Strauss & Co, which is known for its Levi’s brand, has decided to wind down its footwear business as it streamlines its organization to bolster efficiency and profitability thanks to the Project Fuel initiative launched in January.
H&M continues to target a 10% operating margin
In the first quarter ended Feb. 29, H&M Hennes & Mauritz significantly improved its bottom line as the Swedish fashion retailer strives to bolster its operating margins. The company saw sales gradually improve during the month of February thanks to “well-received” spring collections and confirmed its target of a 10 ...
Asos’ sales plunge 18% in the first half but guidance maintained
Asos reported a sharp fall in sales for the first half of its fiscal year due to slowing demand and large discounts to clear excess stock, but the British online fashion retailer insisted that its turnaround plan was on track and maintained annual guidance.