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UK shoppers surprisingly ready to spend during heatwave, fashion stays strong

UK shoppers surprisingly ready to spend during heatwave, fashion stays strong

Hot weather drove Britons to buy summer fashion, as well as outdoor goods, in July. But they also reined-in spending on foreign travel and eating out as the cost-of-living squeeze made itself felt, two surveys show.
Fashion
Shopify merchant growth falters as weak consumer spending hits businesses

Shopify merchant growth falters as weak consumer spending hits businesses

​Businesses stung by rising costs and lower consumer spending are shying away from Shopify's platform, creating a roadblock in its plan to fix past missteps in overestimating e-commerce demand.
Fashion
Richemont recommends shareholders vote against board candidate Trapani

Richemont recommends shareholders vote against board candidate Trapani

Richemont has asked shareholders to reject a candidate from Bluebell Capital Partners as a representative of ordinary shareholders and vote against his election to the luxury group's board at its upcoming AGM.
Luxury
UK retailer Next lifts outlook on strong clothing demand

UK retailer Next lifts outlook on strong clothing demand

​Retailer Next, a mainstay of Britain's shopping streets, defied the economic gloom on Thursday to lift its full-year sales and profit forecasts after warm weather in June and July spurred better-than-expected trade.
Fashion
Zalando EBIT drops, but firm is upbeat as it adapts to current conditions

Zalando EBIT drops, but firm is upbeat as it adapts to current conditions

​After some disappointment in June as it downgraded guidance, on August 4 Zalando had better news. It “expects improved profitability and a return to growth in the second half”.
Fashion
Hugo Boss sales increased 34% in Q2

Hugo Boss sales increased 34% in Q2

Germany-based Hugo Boss on August 3 confirmed earlier preliminary figures, saying currency-adjusted Group sales increased 34 per cent in the second quarter (Q2) of fiscal 2022 (FY22) compared to the prior-year period.
Fashion
Eurozone retail sales drop more than expected in June as prices rise

Eurozone retail sales drop more than expected in June as prices rise

Euro zone retail sales plunged more than expected in June as prices at factory gates continued to rise, data showed Wednesday, signalling a weakness in consumer demand that could herald a recession in H2.
Fashion
Revlon gets court approval for $1.4 billion bankruptcy loan

Revlon gets court approval for $1.4 billion bankruptcy loan

​Revlon received a US bankruptcy judge's permission Monday to proceed with a $1.4bn loan, over an objection by some creditors who argued its terms could block their chance to recover anything from the firm's bankruptcy.
Beauty
Estée Lauder is in talks to acquire Tom Ford brand - report

Estée Lauder is in talks to acquire Tom Ford brand - report

​Cosmetics giant Estée Lauder Cos Inc is reportedly in talks to acquire ultra-luxury brand Tom Ford. If it does, it could be a $3 billion deal, the Wall Street Journal said at the start of August, citing sources.
Fashion
British beauty brand Tropic launches first major ad campaign

British beauty brand Tropic launches first major ad campaign

Tropic has chosen the London Underground for its first large-scale ad campaign. The British beauty brand has launched the ‘Nice To Meet You’ tube campaign, which aims to share its products with a broader audience.
Beauty
Sales and profit boom at Hermès in H1, China bounces back at end of period

Sales and profit boom at Hermès in H1, China bounces back at end of period

​Hermès saw a sales boom in Q2 as — like its luxury peers — it enjoyed strong growth in Europe and the US with China also recovering during June towards the end of the quarter.
Luxury
As inflation soars, European consumer goods M&A slows

As inflation soars, European consumer goods M&A slows

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.
Fashion
Lush invests €8.9 million in store network

Lush invests €8.9 million in store network

British beauty retailer Lush is placing physical retail at the heart of its strategy, and announced an €8.9 million investment to expand and renovate its European stores.
Beauty
L'Occitane reports a 15.8% increase in sales in the first quarter

L'Occitane reports a 15.8% increase in sales in the first quarter

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.
Beauty
L'Oreal bucks trend with Chinese sales growth in Q2

L'Oreal bucks trend with Chinese sales growth in Q2

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.
Beauty
Campaigners step up efforts to prevent M&S Marble Arch demolition

Campaigners step up efforts to prevent M&S Marble Arch demolition

​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.
Fashion