China's top internet finance company, e-commerce giant Alibaba's affiliate Ant Financial, could start the process of going public this year, reports said Monday, with the firm's latest fundraising valuing it at 60 billion US dollars. Ant Financial Services Group, which owns and operates the Paypal-like […]

REPORTH&M sales including VAT in March 2016 increased by 2 percent in local currencies for the H&M group compared to the same month last year. The company has said that sales in March, April and May should be viewed together because the Easter holiday falls in different months in different years, and […]

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 […]

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