Next brand full price sales were up 4 percent, while brand total sales including markdown sales were up 3.5 percent on last year. The company said in a statement that group profit before tax was up 0.8 percent and earnings per share (EPS) were up 5.6 percent on last year. The company added that group […]

Given the ongoing escalation of the COVID-19 pandemic, Burberry Group plc has said in a statement that since 24 January 2020, trading has deteriorated significantly with comparable retail store sales tracking between negative 40 percent and negative 50 percent over the last six weeks. The company witnessed […]

Tailored Brands, Inc. for the fourth quarter reported GAAP net loss of 38.6 million dollars compared to net earnings of 3.8 million dollars last year, while diluted loss per share was 80 cents compared to diluted EPS of 8 cents last year. On an adjusted basis, net loss was 22.5 million dollars compared […]

Shares of Guess Inc., rallied 7 percent in the extended hours on Wednesday after the company reported adjusted fiscal fourth-quarter earnings of 1.22 dollars compared to 70 cents in the fourth quarter of fiscal 2019 that were above Wall Street estimate of 1.12 dollars. Total net revenue for the quarter […]

The Textile Exchange has announced the release of a new Responsible Mohair Standard (RMS), which is based on and closely aligned with the Responsible Wool Standard (RWS), announced in 2016 and recently underwent its first revision. Both standards are structured around the Textile Exchange Animal Welfare […]

ANALYSISNew York – From Amazon to Inditex and LVMH, many big names in the apparel and fashion industry are leading by example in the fight against the coronavirus spread. Amazon on Tuesday made a priority of medical supplies and household staples, putting shipments of other goods on hold to focus on […]

Chanel has joined the ranks of competitor Gucci in halting production in the short-term amidst the global coronavirus pandemic. The company is closing factories in France, Switzerland, and Italy for the next two weeks. Gucci has already shut factories in its Tuscany and Marche regions through March […]

ANALYSISNew York – The world’s largest fashion retailer reported higher net profit and sales for fiscal 2019 on Wednesday, despite seeing sales plunge 24 percent during the first 16 days of March as Inditex SA closed downs thousands of stores temporarily to help mitigate the coronavirus pandemic. Inditex […]

The question of transparency is currently where sustainability was just a few years ago: Companies - not only those in the textile and apparel industry - are not sure what added value it brings them and their supply chains and doubt that it is a necessity now or could be soon. They also have scruples […]

Amazon has announced it will temporarily stop accepting non-essential items at its warehouses in a bid to manage a surge in online orders brought on by the Covid-19 pandemic. The US retail giant will be prioritising household staples, medical supplies and other high demand products coming into its fulfilment […]

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