Steinhoff remains in a “tough position” and is talking to creditors about restructuring debt, the company said on Friday at its first shareholder meeting since an accounting scandal was uncovered in December.
The booming fashion industry is medieval in its approach to manufacturing and needs to modernise in order to radically cut the damage it is doing to the environment, British designer Stella McCartney has said.
Belgian lingerie group Van de Velde, which was banking on modest growth in 2018, has revised its outlook down, and is now expecting sales to be stable at best, if not in decline over the course of the year.
OTB, the holding company of Italian fashion billionaire Renzo Rosso, quadrupled its Earnings Before Interest and Tax (EBIT) to €21.5 million in 2017. Though total group revenue slid 2.4 percent over the same 12 months.
Fashion sales soared online during March, but while that could have been due to easter, the latest IMRG Capgemini e-Retail Sales Index suggests we could also be seeing fundamental changes in UK retail.
The initiative is the latest attempt by the industry to clean up its image and expunge the scourge of "blood diamonds" blamed for financing conflict in poor African countries, such as Sierra Leone and Liberia.
Target is zoning in on diversity when it comes to the beauty aisles.The retailer has introduced eight new cosmetics brands to its beauty section, all owned by women, and designed for medium to dark skin tones.
Q4 proved difficult for Bonmarché Holdings but the company preferred to focus on achieving its profit goals for the year and its impressive online sales rise when it released a trading update on Friday.
The ranks of people subscribing to Amazon Prime service for speedy delivery of purchases and streamed television has topped 100 million, the company's chief Jeff Bezos said Wednesday in an annual letter.