Latest Articles in Report

Saks downgraded as S&P flags risk of default amid 600m dollar rescue deal

Saks Fifth Avenue, the storied American luxury department store, has seen its credit rating slashed to near-default levels by S&P Global Ratings. There are growing concerns about the company’s financial health and its ability to meet obligations to creditors, including fashion brands and suppliers still awaiting payment. S&P downgraded Saks’...

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Zeus+Dione secures investment from Halcyon Equity Partners

Greek luxury lifestyle brand Zeus+Dione, co-founded by Dimitra Kolotoura in 2013, has received a strategic investment from private equity fund Halcyon Equity Partners. In a statement, Zeus+Dione said the investment from Halcyon will allow the brand to build on its strong commitment to creativity, sustainability, craftsmanship, innovation and...

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Boohoo stands firm in new letter to Frasers Group

In what is yet another response to another open letter issued by Frasers Group, Boohoo is remaining firm on its stance that its majority shareholder should not have its resolutions approved in the company’s forthcoming general meeting. In this latest filing, Boohoo specifically addresses Frasers’ most recent letter to the retailer’s...

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Lucien Pagès PR agency joins The Independents

Marketing and communications group The Independents is continuing its expansion through the new acquisition of the French-American public relations agency, Lucien Pagès Communication. The announcement was made on the respective Instagram accounts of the two firms, where it was stated that Lucien Pagès’ ability to provide clients with end-to-end...

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In The Style reveals job cuts as full year revenue takes sharp tumble

New accounts filed by fast fashion e-tailer In The Style (ITS) have revealed a series of job cuts at the firm as well as a sharp drop in revenue for the full financial year. The company said that it had reduced people overhead by around 38 percent, reflecting a drop from 179 to 140 employees, after taking certain steps to gain the ability to do...

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Ecommerce Europe appoints Gero Furchheim as president

Ecommerce Europe has elected Gero Furchheim, from the German association BEVH, as its new president. Furchheim succeeds his predecessor, Wijnand Jongen. “A strong association that actively expands and deepens its network must build bridges between the EU and national levels, while fostering collaboration with associations, businesses, and...

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Under Armour reiterates revised FY25 outlook

At an investor meeting in New York Under Armour reiterated its full-year fiscal 2025 outlook, which it provided with the second-quarter results in November. Key points related to Under Armour's fiscal 2025 outlook included revenue decline at a low double-digit percentage rate, gross margin to increase by 125 to 150 basis points, operating loss...

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Ebay and Klarna expand Buy Now Pay Later to new markets

Multinational ecommerce giant eBay has expanded its partnership with Klarna, transforming the art of digital window shopping into a more fluid financial experience. The collaboration, which spans key European markets, introduces flexible payment options that could revolutionise how fashion consumers approach their purchasing decisions. The...

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Boohoo gets further proxy backing in boardroom battle

Building on prior support from the Institutional Shareholder Services (ISS), Boohoo has now received backing from an independent proxy advisor in regards to its upcoming General Meeting, in which an anticipated boardroom battle is expected to ensue. Glass Lewis has offered its recommendation that Boohoo shareholders are to vote against...

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LPP achieves Q3 revenue growth, outlook positive

In the third quarter, LPP Group achieved revenues of 5.2 billion Polish zloty, up 19.8 percent year-on-year and by 25.2 percent in constant currencies. The company’s online sales were up 35.7 percent due to the development of mobile apps and a broader product offer dedicated to online stores. The group recorded double-digit revenue growth of...

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Brunello Cucinelli raises forecast, projects 11 to 12 percent revenue growth

Following positive sales in the last few months and of early December, Brunello Cucinelli projects an increase in revenues of 11 to 12 percent for 2024, with growth in the fourth quarter expected to be in line with the outstanding result for the third quarter. Commenting on the year-end update, Brunello Cucinelli, executive chairman and creative...

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Vera Bradley’s Q3 revenue and earnings decline

Vera Bradley’s third quarter net revenues declined to 80.6 million dollars and consolidated net loss reached 12.8 million dollars or 46 cents per diluted share. For the nine month period, net revenues decreased to 272 million dollars and consolidated net loss totaled 15.2 million dollars or 52 cents per diluted share. Commenting on the third...