REPORTGap’s comparable sales for March 2016 were down 6 percent versus a 2 percent increase last year. The company said that net sales for the five-week period ended April 2, 2016 were 1.43 billion dollars compared with net sales of 1.53 billion dollars for the five-week period ended April 4, 2015. […]

REPORTL Brands net sales increased 5 percent to 1.027 billion dollars for the five weeks ended April 2, 2016, compared to 981.2 million dollars for the five weeks ended April 4, 2015. The company also announced restructuring plans, which includes laying off of 200 associates in Columbus and New York. […]

British fashion e-tailer Asos has announced plans to discontinue its local operations in China on Thursday morning. The decision will see approximately 60 postions at Asos office in Shanghai and fulfilment centre be axed, with the remaining 20 memebers of staff being moved elsewhere. However, Asos will […]

Los Angeles - Pacific Sunwear of California Inc., also known as PacSun, is headed for a new turn in their business. Up until now, the trendy, youthful retailer has maintained its company with over 600 operating retail stores. However, it has been announced that the SoCal-based company could file for […]

London - Even colossal fast fashion companies the size of H&M are not immune to global events. Warm weather, a strong dollar, high markdowns, extended clearance sale times, all which led to a Ioss of profit for the Swedish high street giant. Q1 saw a hefty 30 percent fall in net profit, owing to “substantially […]

In order to boost its growing textile sector, Pakistan's commerce ministry has promised to do away with value added tax (VAT) for textiles and make it zero from July 1 2016. Federal commerce minister Khurram Dastgir Khan made the announcement at the 15th Textile Asia 2016 exhibition, an international […]

British luxury accessories label Aspinal of London has brought on a team of advisors from accountancy firm PricewaterhouseCoopers to help find new investors to back its international expansion plan. The luxury label, best known for its leather handbags, is said to be looking for an investor to acquire […]

Asics America, known for their running shoes, recently had a legal issue with their former partner, Windsor Financial Group LLC. Windsor filed a civil suit against the Asics brand due to unfulfilled promises from the company. The suit was filed Wednesday, where Windsor charged Asics for not helping […]

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