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El Corte Inglés targets "Net Zero" by 2050 with new sustainability plan

Madrid - El Corte Inglés, the Spanish department store group, has launched its new 2025-2030 Sustainability Master Plan, reaffirming its commitment to environmental responsibility. The plan is a comprehensive roadmap aimed at achieving "Net Zero" status by 2050, with a focus on minimizing the company’s environmental impact and reducing...

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Armani fined 3.5 million euros by CMA for unfair practices

The Competition and Markets Authority (CMA) has fined Giorgio Armani Spa and G.A Operations Spa 3.5 million euros for allegedly misleading consumers with false claims of ethical and social responsibility. The CMA's investigation found that the companies' marketing, which emphasised their commitment to sustainability and worker well-being,...

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Mark Petereit returns to Snipes as senior head of buying

Mark Petereit takes up the role of senior head of buying and planning at Snipes. Petereit announced his new position, which he assumed on 1 August, on Friday on the career network, LinkedIn. He returns to the Cologne-based streetwear retailer after around four and a half years. Most recently, Petereit was active as buying director for...

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New tariffs will not take effect until August 7

New US tariffs on imports will not take effect until August 7, according to a government official, and not this Friday as previously indicated. The US government official confirmed to the German Press Agency on Thursday evening (local time) that this also applies to the 15 percent tariff on imports from the EU. US President Donald Trump had...

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Amazon exceeds revenue expectations but share price falls

The world's largest online retailer disappointed stock market traders with the growth of its cloud division, AWS, and a cautious profit outlook. The share price fell by 6.5 percent in after-hours trading. Amazon presented figures for the past quarter that exceeded analysts' forecasts. Revenue for the world's largest online retailer increased by...

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Five years after Covid: 6 Trends still redefining consumer behaviour

Five years on from the start of the pandemic, The Anchor, backed by the Placer.ai platform, has published a comprehensive report on post-Covid consumer habits. Using footfall data from physical locations in the first half of 2025, compared to 2019 and 2024, the study identifies six profound and lasting dynamics. These include retail,...

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Kering to offer Luca de Meo 20 million euro welcome bonus

Struggling luxury group Kering will offer a "welcome bonus" of 20 million euros to its new managing director, Luca de Meo, at the company's general meeting in September, which is to approve his appointment. Kering officially announced in mid-June the arrival of de Meo, aged 58, to the newly created position of managing director. The current CEO,...

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Ferragamo revenue down 9.4 percent amidst challenging market conditions

Salvatore Ferragamo reported revenue of 474 million euros down 9.4 percent compared to the first half of 2024, and down 7.1 percent at constant exchange rates, for the first six months of the year. Overall revenue was impacted by the wholesale channel, which reported revenue of 105 million euros, down 17.9 percent or down 14 percent at constant...

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Adidas and Puma shares weaken after critical analyst views

Shares of the two sportswear manufacturers Adidas and Puma extended their losses on Thursday. While Adidas disappointed after presenting its second quarter figures and confirmed outlook the day before, and some analysts have now lowered their price targets, Puma's shares suffered from a negative comment from Baader Bank after the publication of...

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Adriana Domínguez re-elected as chair and CEO of Adolfo Domínguez

Madrid – In addition to informing the National Securities Market Commission (CNMV) of the results recorded at the close of the first quarter of 2025, Adolfo Domínguez also reported on the agreements adopted during its latest general shareholders' meeting held this past Wednesday, July 30. Following the meeting, Adriana Domínguez was re-elected...

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Puma appoints former Adidas manager Andreas Hubert as COO

The German sportswear company Puma SE is expanding its management board. On Thursday, the company announced the appointment of Andreas Hubert as chief operating officer (COO). The 49-year-old will assume the newly created position on September 1. With Hubert's arrival, the group's management board will expand from four to five members. In his...

Fashion

Sunglasses collaborations for summer 2025: Ray-Ban, Oakley, Komono

Trends fade, but sunglasses remain the ultimate summer essential. In time for the holiday season, we showcase three collaborations that will make passers-by take their glasses off for a closer look. A$AP Rocky for Ray-Ban At the start of the year, A$AP Rocky was appointed creative director of eyewear brand Ray-Ban. The US designer and musician,...