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.

Women's lifestyle brand Veronica Beard has appointed Halsey Anderson, former J.Crew Senior VP of Brand Marketing, as Chief Brand Officer.

Anderson leverages more than two decades of experience in brand marketing, content creation, and public relations, bringing invaluable experience to her new role.

Known for successfully creating lasting customer relationships and driving brand awareness in her former roles at the J.Crew Group, Anderson will lead all brand and creative operations from Veronica Beard's headquarters in New York in her new role.

She will report directly to the brand's President, Stephanie Unwin, and work closely alongside the brand's co-founders, Veronica Swanson Beard and Veronica Miele Beard.

"Veronica Beard's unrelenting purpose is to create a dream wardrobe for the layered lives of women," said Veronica Swanson Beard and Veronica Miele Beard in a statement. "Across all brand touchpoints, Halsey's creativity runs deep, and we are incredibly excited for what's to come."

"As Veronica Beard expands into new product categories and markets, we are attracting high-caliber talent to help build global awareness and promote a unified brand vision, "added Unwin.

"I am thrilled to join such an authentic, customer-first brand," said Halsey Anderson on her new position. "Veronica Beard understands so well how women want to dress for our multi-faceted lives. I look forward to building upon what the Veronica Beard brand and lifestyle means for women globally."

Anderson's appointment comes as the brand continues to invest in its growth, expanding nationally as well as internationally. Veronica Beard will be opening eight new stores across the USA in selected major cities and also launched the CFDA x Veronica Beard Creative Futures Scholarship earlier this year, which awarded $50,000 grants to four undergraduate juniors in fashion design or textiles programs at an American college.

Veronica Miele Beard and Veronica Swanson Beard, sisters-in-law married to brothers, launched their namesake brand in 2010. Combining their individual points of view under a shared vision, the label is known for its tylish staples designed for the modern, multidimensional woman.

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 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.

Marketing and communications group The Independents is continuing its expansion through the new acquisition of the French-American public relations agency, Lucien Pagès Communication.

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.

Ecommerce Europe has elected Gero Furchheim, from the German association BEVH, as its new president. Furchheim succeeds his predecessor, Wijnand Jongen.

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.

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.

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.

Woolrich International, known as the original American outdoor brand, has welcomed a new investor to boost its international footprint, with Chinese apparel group Baoxiniao Holding Co. Ltd. acquiring the intellectual property rights of the Woolrich brand for all territories outside Europe.

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.

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.

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.

Confirming no material impact on its financial results after completion of delivery expense related investigation, Macy’s reported GAAP diluted earnings per share of 10 cents and adjusted diluted earnings per share of 4 cents for the third quarter.

J.Jill reported third quarter net sales increased 0.3 percent to 151.3 million dollars, while comparable sales, which includes comparable store and direct to consumer sales, decreased by 0.8 percent, negatively impacted by approximately 50 basis points due to hurricane-related disruptions in the quarter.

Aampe, the digital personalisation specialist for brands, has raised 18 million US dollars in Series A financing, led by Theory Ventures, to accelerate the adoption of its agentic infrastructure.

In the nine month period, Zara owner Inditex recorded sales growth of 7.1 percent to reach 27.4 billion euros.

De Beers Jewellers has appointed Henry Jun Liu as its chief marketing officer to lead the luxury jewellery house’s global marketing strategy to drive the brand’s ambitious growth plans and further position it as a leading luxury jewellery destination.

Rent the Runway reported third quarter revenue of 75.9 million dollars, a 4.7 percent increase year-over-year.

Online personal styling service Stitch Fix reported first quarter net revenue of 318.8 million dollars, a decrease of 12.6 percent year-over-year.

G-III Apparel Group’s third quarter net sales increased 1.8 percent to 1.09 billion dollars, while net income was 114.8 million dollars or 2.55 dollars per diluted share.

Cart.com, a unified commerce solutions provider, has acquired OceanX, the wholly-owned fulfillment operations arm of Guthy-Renker.

New York based firms CP Brands Group and Icon Luxury Group have announced the acquisition of British clothing brand Thomas Pink from its former parent company, LVMH. The deal was described by the two groups in a press release as a “joint partnership” that aims to “usher in a bold new chapter for the Thomas Pink brand”.

Third quarter net sales at Designer Brands decreased by 1.2 percent to 777.2 million dollars, while total comparable sales decreased by 3.1 percent.

Thélios, the eyewear division of LVMH Group, has shuffled its C-suite in the Americas region and proprietary brand Barton Perreira, promoting Luca Guillot Boschetti to head of Thélios Americas and naming Cedric Moreau as chief executive officer of Barton Perreira.

UK-based resale fashion tech start-up Truss, which is looking to revolutionise the fashion industry by powering resale with AI-enabled data infrastructure, has secured 300,000 pounds in investment from FIGR Ventures.

Nicki Capstick, the chief marketing officer of PrettyLittleThing, is believed to have stepped down from the fast fashion e-retailer.

Mister Spex, Europe’s omnichannel optician, during its Black Friday 2024 campaign, saw like-for-like sales in its German stores growing by over 30 percent compared to the same period in 2023.

European variety discount retailer Pepco Group, in its preliminary unaudited results statement for the 12 month period said that revenue of 6.2 billion euros, increased by 10.2 percent, driven by new store growth. Like-for-like (LFL) revenue declined by 3.2 percent during FY24.

Despite past reports that L Catterton was not eyeing a sale of its stake in Etro, new speculation regarding such a possibility has come to light. According to sources for WWD, financial services firm Rothschild is believed to have been given a mandate to seek an investor in the Italian luxury group.

In its continued pursuit of international expansion, Frasers Group has announced its intention to make a voluntary offer for all of the shares of Norwegian sporting goods retailer, XXL ASA.

British retailer Quiz has announced that it has engaged advisors to “consider appropriate options” after revenues during its key trading month of November took a sharp decline.

Castore, the performance sportswear brand and supplier of sports apparel, has appointed Danny Downs to lead the company’s commercial operations as it strengthens its senior executive team.

Retail platform Unified Commerce Group (UCG) has closed its investment in Utah-based womenswear retailer Böhme.

Hiking and outdoor footwear brand Merrell has appointed Noreen Naroo-Pucci as chief product officer.

Torrid Holdings Inc. reported a net sales decline of 4.2 percent to 263.8 million dollars for its third quarter compared to 275.4 million dollars reported for the same period last year.

AEO Inc. reported an increase of 3 percent in total comparable sales for its third quarter, following a 5 percent growth in comparable sales during the same period last year, highlighting the success of the company’s profitable growth plan.

New York-based fashion giant PVH Corp. reported that revenue declined less than expected during its third quarter for 2024, dropping 5 percent to 2.255 billion dollars compared to the same period the year prior. The company, which owns iconic fashion brands such as Calvin Klein and Tommy Hilfiger, added that it outperformed its earlier projection of a 6 percent to 7 percent drop, bolstered by recovering international sales.

European real estate fund manager The Valesco Group, a portfolio company of New World Group, has acquired a majority stake in a 200-million-euro state-of-the-art office building being developed by Covivio SA, which will serve as the global headquarters for luxury fashion brand Moncler in Milan.

Lingerie and swimwear company Wacoal Europe has announced that Evelyne Piegay will step down from her role as European sales director after 24 years with the company and will be replaced by Edwin Van den Bergh, who will assume the role of sales director in February 2025.

American retail group Abercrombie & Fitch is entering India through a multi-year franchise partnership with Myntra Jabong India Private, Ltd. to expand the global reach of its brands in the country.

Gymshark Chief Financial Officer (CFO), Mathew Dunn, has left the fast-growing British sportswear brand after less than two years, a Gymshark spokesperson shared in a statement to FashionUnited. Dunn's departure comes at a time when the sportswear brand is busy expanding internationally.

The Children’s Place, Inc., an omnichannel children’s specialty portfolio of brands, reported a decrease of 18.8 percent in net sales to 390.2 million dollars for its third quarter, compared to 480.2 million dollars for the three months that ended October 28, 2023. For the three months ending November 2, 2024, net income was 20.1 million dollars, down from 38.5 million dollars in the same period last year. Adjusted net income was reported at 26.1 million dollars, compared to 40.6 million dollars a year earlier.

Marketing and communications agency Brandnation has become employee-owned after founder and managing director Mary Killingworth sold her majority stake in the company to an Employee Ownership Trust (EOT).

The annual Cyber Monday shopping event reveals a change in consumer behaviour in 2024, with total spending expected to reach 3.33 billion pounds, demonstrating remarkable economic resilience despite marginal year-on-year fluctuations.

Benetton Group CEO Claudio Sforza is finalising the company's reorganisation plan, which he has been working on since this summer, when he took over the Venetian company. The strategy should reduce losses from 230 million to 110 million euros within a year. The break-even point is forecast for 2026. To achieve this goal, 500 store closures are planned, according to various Italian media.

Kering subsidiary Gucci Logistica is increasing its stake in Colonna Group to strengthen its investment in the leather industry.

Resort retailer United Nomads Group (UNG) has announced its acquisition of Tulum-based, experiential fashion brand Caravana. The move hopes to help the label move into a new era, while further emphasising the group’s mission to “redefine resort retail”.

Movopack, the Italian-based company providing e-commerce platforms with circular and sustainable packaging, has raised a 2-million-pound seed funding round to support its official launch in the UK.

US department store giant Nordstrom welcomed a 4.6 percent increase in net sales for the quarter ended November 2, 2024, while comparable sales rose 4 percent compared to the same period in the year prior.

Footwear specialist Dr Martens has swung into the red as its revenue for the half year plunged deeper. For the 26 weeks ended 29 September 2024, revenue dropped 18 percent on actual exchange rates, amounting to 324.6 million pounds.

McArthurGlen Group, Europe’s leader in designer outlet retailing, has reported record-breaking sales in 2024, with a turnover growth of 7 percent year-to-date.

Burlington Stores, the American off-price retailer of high-quality, branded apparel, footwear, accessories, and homeware, named Shira Goodman to its board of directors.

JD Sports Fashion has announced the completion of its acquisition of French sneakers player Courir.

British contemporary designer brand Joseph has announced the appointment of Mario Arena as creative director. His first collection for Joseph will be spring summer 2026, which will land in stores in October 2025.

Urban Outfitters announced third quarter net income of 102.9 million dollars and earnings per diluted share of 1.10 dollars. For the nine months, net income was 282.2 million dollars and earnings per diluted share were 2.99 dollars.

For the third quarter, Guess recorded a GAAP net loss of 23.4 million dollars and GAAP diluted net loss per share of 47 cents. Adjusted net earnings were 17.7 million dollars, down 35 percent, while adjusted diluted EPS decreased 31 percent to 34 cents.

Kohl’s third quarter net sales decreased 8.8 percent to 3.5 billion dollars and comparable sales decreased 9.3 percent.

The Work Group of Wolverine World Wide, Inc, the parent company of Wolverine, CAT, Sweaty Betty and Hush Puppies among others, has appointed industry veteran Mike Maloney as its new chief product officer.

American retail giant Abercrombie & Fitch has reported “record” sales for the third quarter of the current fiscal year, reaching 1.2 billion dollars at an increase of 14 percent on the same period of the year prior. Based on what it said was an “outperformance”, the retailer has thus increased its full year outlook.

Luxury group Capri Holdings Limited has administered a series of shifts to the leadership team of its brand, Michael Kors. The most notable change is that its own chairman and chief executive officer, John Idol, is to assume the role of chief executive for the premium brand, a position he will officially take up from December 2, 2024.

Frasers has announced the conclusion of the acquisition of South Africa's leading sporting, outdoor and recreation goods company, Holdsport from Old Mutual Private Equity (OMPE) and latter’s management.

Luca Lo Curzio, the current chief executive officer of Jil Sander, has been appointed to the helm of K-Way, a position he will take up following the closing of Permira Funds’ strategic investment in the sportswear brand, expected to be complete in Q1 2025.

Off-price marketplace Secret Sales has snapped up digital fashion outlet Afound from its former parent company H&M Group.

For the first half period, women’s fashion brand Sosandar reported revenue of 16.2 million pounds versus 22.2 million pounds in the same period of the previous year as the group continued to transition away from price promotional activity outside the major scheduled sale events.

US department store chain Kohl’s has outlined its chief executive officer transition plan as its current head, Tom Kingsbury, confirms his intention to step down from January 15, 2025. Kingsbury will be succeeded by Ashley Buchanan, but will stay on in an advisory role and retain his position on the board of directors through to his retirement in May 2025.

In her new role, the company said in a release, Heinle will be responsible for leading the global HR function and managing Nike’s People vision and strategy. She succeeds Monique Matheson who has decided to retire after 26 years with the company. This leadership change is effective January 6, 2025.

Macy’s has delayed its third quarter results after discovering that one of its employees hid nearly 132 million dollars to 154 million dollars in delivery expenses over the last three years.

Value fashion and homeware retailer Primark reports that it has cut carbon emissions across its value chain, three years after it published its 2030 sustainability commitments, after switching to renewable and low-carbon energy.

Allan Leighton, the chief executive of Asda between 1996 to 2001, has been appointed as the supermarket giant’s executive chair, marking his return to the company. Leighton will succeed Stuart Rose, who has served as Asda’s chair since 2021.

Boohoo has officially received lender consent in regards to its fundraising, which has been set out to “unlock and maximise shareholder value”, as stated by chairman, Tim Morris.

Beauty US consumer products group Helen of Troy has entered into a definitive merger agreement to acquire omnichannel nail brand Olive & June for 225 million US dollars.

Represent has established a strategic partnership with investment firm True, which has snapped up a minority stake in the British luxury brand to help fuel its ongoing growth plan.

The owners of lingerie chain Ann Summers are believed to be considering sale options for the business, with the disposal of a “big stake” in the retailer said to be on the table.

PDD Holdings in its unaudited financial results statement for the third quarter reported revenues of 99,354.4 million Chinese yuan (14,157.9 million dollars), an increase of 44 percent.

British retailer Superdry has reportedly named Kim Zaheer as its new interim chief finance officer. He joins the company from bed retailer Dreams, where he most recently served as finance director, a position he held for over 15 years.

Canadian fashion retailer Groupe Dynamite has launched its 300 million Canadian dollar (215 million US dollar) initial public offering on the Toronto Stock Exchange, which upon entering shares fell 2 percent.

Authentic Brands Group, the new owner of Champion, has appointed Brand Collective as the new licensing partner of the sportswear label in Australia and New Zealand.

The Platform Group achieved a gross merchandise volume (GMV) of 608.4 million euros for the nine month period and generated sales of 371.2 million euros, up against the same period of 2023.

European sneaker brand P448 has roped in Rocco Bennici to serve in the newly created role of chief financial & operating officer reporting to Wayne Kulkin, executive chairman of StreetTrend LLC.

Shoe Carnival’s net sales in the third quarter declined to 306.9 million dollars. The company said, without the impact of the retail calendar shift, net sales increased by 2.2 percent versus prior year.

Ross Stores earnings per share increased to 1.48 dollars in the third quarter and net income rose to 489 million dollars. Sales for the quarter increased to 5.1 billion dollars, with a comparable store sales gain of 1 percent.

Gap’s third quarter net sales of 3.8 billion dollars were up 2 percent compared to last year and comparable sales were up 1 percent year-over-year.

Report The global retail sector demonstrates remarkable resilience amid economic headwinds, with super-prime retail destinations maintaining tight vacancy rates and experiencing rental growth, according to the latest Main Street Across the World report by Cushman Wakefield. Despite luxury brands facing revenue slowdowns from 15 percent in 2022 to 0-4 percent currently—partially attributed to Asia Pacific spending pullback—retailers are displaying strategic adaptability. Emerging sports, cosmetics, and wellness brands are increasingly competing for prime retail spaces, signaling sector dynamism. Anticipated interest rate cuts are expected to provide economic recovery tailwinds, potentially reinvigorating consumer spending and real wage growth.

The Cato Corporation reported a net loss of 15.1 million dollars or 79 cents per diluted share for the third quarter, while sales decreased by 8 percent to 144.6 million dollars and same-store sales decreased 3 percent compared to 2023.

After exiting the London Stock Exchange in July as part of its restructuring plan, Superdry Group revenue for the year to April 27, 2024 of 488.6 million pounds decreased by 22 percent. The company attributed the decline to continued underperformance of the wholesale business and softer performance of the retail segment.

Lingerie retailer Ann Summers has cut a number of its jobs amid rising losses at the firm, with the company’s owners, the Gold family, now also stepping in to provide financial aid.

New Guards Group (NGG), the Farfetch-owned parent company of Palm Angels and Ambush, has filed for a form of bankruptcy protection in Italy as its pursuit for a buyer continues to trudge on.

JD Sports Fashion in its third quarter trading update said given the volatile trading environment, and following October trading, it now expects pre-tax profit to be at the lower end of original guidance range of 955 pounds to 1,035 million pounds.

Boohoo Group has announced the appointment of Tim Morris as the company’s independent chair with immediate effect.

Following an 8 percent first half increase, Coats Group sales growth in the July to October period improved to 11 percent with accelerating growth in footwear and continued momentum in apparel, partly offset by sustained weakness in performance materials.

Department store chain Target reported third quarter GAAP and adjusted earnings per share of 1.85 dollars, down 11.9 percent compared with last year.

The TJX Companies net sales for the third quarter were 14.1 billion dollars, an increase of 6 percent, while comparable store sales increased by 3 percent. Net sales for the first nine months were 40 billion dollars, an increase of 6 percent with comparable store sales increase of 3 percent.