Happy ending – money wise – for Michael Kors investors and management. The fashion retailer has paid a record salary for Michael Kors, honorary president and creative director of the eponymous brand and John Idol, president and CEO of the brand. According to ‘WWD’, both executives have received a combined […]

REPORT In its trading statement for the first quarter, N Brown said that the group revenues increased over 2.5 percent and like-for-like sales, over 1.5 percent. Product revenues were up 4.3 percent and gross margin and operating costs, broadly in line with expectations. Power brands continued to outperform […]

Target announced that it is cutting another 140 jobs at its headquarters and eliminating 50 other unfilled jobs. The Minneapolis-based company says it is trying to simplify and streamline its organisation. As reported by AP, Target is cutting more jobs, adding to the 1,700 workers the retailer announced […]

London - Hudson’s Bay, the owner of US retailer Saks Fifth Avenue, is buying Germany’s biggest department store chain, Galeria Kaufhof for 2.82 billion euros including certain liabilities, according to a statement from Metro, the current owner of Kaufhof. Toronto-based Hudson’s Bay, which operates its […]

According to an agreement between garment makers and the Southern African Clothing & Textile Workers’ Union (SACTWU), South African garment workers will receive a pay hike from September 1, the industry's due date for annual wage increases. This means that in metro areas like Durban, Cape Town, Johannesburg […]

After five years, Richemont Group has seen its investment in Net-a-Porter bear fruit. The online luxury fashion platform has posted a pre-tax profit of 11 million pounds in the year to March, 31 from a 9.7 million pounds loss last year. The Net-a-Porter group said revenues had risen 22.8 percent to […]

REPORT The H&M Group’s sales including VAT increased by 10 percent in local currencies in May 2015 compared to the same month the previous year. Sales in May have been negatively affected by calendar effects of approximately 3 percentage points. In the second quarter of 2015, from March 1 to May 31, […]

Brand Management firm Authentic Brands has taken over bankrupt lingerie company Frederick's of Hollywood. In April, Frederick's of Hollywood filed for bankruptcy court protection in Delaware. ABG put in a 22.5 million dollar horse bid for the brand as part of a court-approved action process. Reports […]

REPORT Ted Baker announced a 24.2 percent increase in group revenue for the 18 week period from February 1, 2015 to June 6, 2015, compared to the same period last year. Retail sales for the period increased by 18.9 percent or 18.1 percent in constant currency) and average. Retail square footage rose […]

REPORT Cherokee Global Brands, for the first quarter fiscal 2016 ended May 2, 2015 said the revenues increased approximately 3 percent to 10.2 million dollars, compared with 10 million dollars in the prior-year period. The increase in revenues was principally due to increased sales from Cherokee-branded […]

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