Private equity firm Clayton, Dubilier & Rice (CD&R) is poised to start a bidding war for British supermarket chain Morrisons, the target of a £6.3 billion ($8.8 billion) offer from a group led by another U.S. firm.
Revenues at the Goleta, California-based footwear, accessories and apparel group totaled $504.7 million in the first quarter, up 78.2% year over year, as the company experienced strong growth across its brand portfolio.
Australia, a country known for punching above its weight in sport, literature, cinema, media, wine and the pursuit of happiness, has tended to underperform when it comes to fashion. One major exception is Zimmermann.
The group announced a 178.6% increase in Q2 revenue on Wednesday, growth driven by the retail channel, which was, nonetheless, still not able to bring the company’s sales in line with pre-pandemic levels.
UK retail sales continued to grow at a rate well above the long-run average in the year to July, but clothing and footwear stores are yet to see demand recover to usual levels, the CBI’s latest survey has showed.
Footwear brand Clarks has been facing major challenges in recent periods but the company has scored a notable success with its email personalisation drive and has used technology to boost conversion in this area.
The running shoe specialist has launched nubuk versions of its technical Bondi and Clifton models, leaving many wondering if the brand is taking a first step towards a more lifestyle-oriented offering.