As a cost-of-living crisis with no end in sight sends shockwaves through Europe, deals in the region's retail and consumer-products industries have slowed dramatically - even more so than in other sectors, data shows.
During the first quarter of its fiscal year that closed on June 30, the L'Occitane group recorded sales of €416 million, up 15.8% at constant exchange rates.
Italy's Prada posted a 22% growth in first half sales, above market estimates, with lockdowns in China and the conflict in Ukraine offset by the strength of Europe, United States and the Far East.
Cosmetics group L'Oreal bucked a declining trend for the luxury and fashion industry in China with sales growing in the second quarter despite COVID lockdowns, as the make-up market rebounds.
A secondary listing in Milan is a possibility, but not a priority for Hong Kong-listed Italian luxury group Prada, its chairman said on Thursday, adding no decision had been taken on the issue.
M&S can expect yet more opposition to its long-running bid to demolish and rebuild its flagship Marble Arch, London, store. Heritage campaigners have begun crowdfunding to oppose the plans in an upcoming public enquiry.
Evolving into a simpler marketplace platform isn’t without its issues. And London-listed online fashion and lifestyle retailer MySale saw both revenues and earnings fall in the 12 months to 30 June.
Hammerson listed three key positives in its half-year trading update on Thursday. The commercial property giant returned to pre-tax profit as footfall recovered to near pre-pandemic levels and costs fell.
France-based malls giant Unibail-Rodamco-Westfield (URW) has reported “continued recovery across all business divisions” and on Thursday said that Q2 tenant sales are exceeding pre-Covid levels.
Unbound Group (best known as the owner of the Hotter footwear brand) on Thursday confirmed the initial launch of its previously flagged curated multibrand platform, as scheduled.
So the rumours were true. Acquisition-hungry Frasers Group confirmed on Thursday that it has acquired online fashion retailer I Saw It First.
Luxury outerwear giant Moncler has reported a currency-neutral 46% surge in sales for the first half of 2022, helped by growth in both the US and Europe even though key luxury market China saw a slowdown.
Columbia Sportswear announced on Wednesday revenues for the first half of the year 2022 increased 12%, despite the company's second quarter recording lower sales in volume terms for the three months.
German sportswear maker Puma reported stronger-than-expected second-quarter earnings on Wednesday and raised its full-year revenue outlook, coping with headwinds in China better than rival Adidas.
After recently acquiring Byredo, the Spanish group has once again reached for its wallet and acquired a majority stake in the natural cosmetics firm founded by Johana Sanint, who will remain at the helm of the brand.
