Swedish payment provider Klarna has seen its losses widen sevenfold for the first half of the year as the fast-growing company continues to invest in its global expansion. The firm reported a net loss of 522 million swedish krona (46 million pounds) between January and June, compared to the deficit […]

Net sales at Gap Inc., were down 18 percent year-over-year to 3,275 million dollars, reflecting a 95 percent increase in online sales, offset by a 48 percent decline in store sales, which were impacted by partial closures during the quarter. During May, the company said in a statement, Gap began reopening […]

Stockmann-owned Lindex has announced cost-cutting measures and jobs cuts following a drop in Q2 revenue. The Swedish fashion chain will aim to reduce its costs globally by approximately 14.5 million euros, which it said will mainly be realized from 2021 onwards. “The savings will be achieved, among […]

For the second quarter, Tiffany & Co. returned to profitability and saw sequential improvements in monthly worldwide net sales from May to July. Worldwide net sales declined 29 percent from the prior year to 747 million dollars and comparable sales declined 24 percent from the prior year; on a constant-exchange-rate […]

Abercrombie & Fitch Co., for the second quarter ended August 1, 2020 has reported net sales of 698 million dollars, down 17 percent compared to last year, reflecting the adverse impact of Covid-19 on store sales. The company said in a statement that digital net sales increased 56 percent to 386 […]

Hotter Shoes owner Electra Private Equity PLC has announced it will pump 2 million pounds into the British footwear retailer as part of its company voluntary arrangement (CVA). The retailer got the green light last month from creditors to go ahead with its CVA which will see 46 of its stores permanently […]

Online beauty and wellbeing retailer The Hut Group (THG) has confirmed plans to float on the London Stock Exchange with a target valuation of 4.5 billion pounds. The IPO aims to raise around 920 million pounds by issuing new shares. The company intends to have a free float of at least 20 percent of […]

The CVA proposal launched by New Look this week which aims to switch the majority of its store estate over to turnaround-based rent does not meet best practices standards, The British Property Federation (BPF) has warned. Under New Look’s CVA proposal, outlined on Wednesday, 402 of its stores would […]

British footwear retailer Shoe Zone has announced that its CEO Anthony Smith and chairman Charles Smith have both increased their stakes in the company following the resignation of non-executive director Jeremy Sharman. The Sharman Family Pension fund, of which Sharman is a beneficiary, has sold its […]

Dick’s Sporting Goods reported consolidated net income for the second quarter ended August 1, 2020 of 276.8 million dollars or 3.12 dollars per diluted share compared to 112.5 million dollars or 1.26 dollars per diluted share in the same quarter last year. On a non-GAAP basis, the company reported consolidated […]

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