Tag: Apparel and Textile Products

Total revenue fell 13.2% year-over-year to $1.07 billion for the fiscal quarter that ended on June 29. On a constant currency basis, total revenue decreased by 12.1% during the quarter. Total company retail sales declined in the low-double-digits, with trends being impacted by softening demand globally for fashion luxury goods.

Under Armour posted a surprise first-quarter profit on Thursday, benefiting from its efforts to cut inventory and promotions at a time when consumers are picky with what they spend their dollars on.

Ralph Lauren Corp posted a rise in quarterly revenue on Wednesday, benefiting from steady demand for its pricey denims and polo shirts in Europe and Asia.

Deckers Outdoor lifted guidance after reporting Thursday better-than-expected fiscal first quarter results, driven by “robust” demand for Hoka and Ugg brands. 

Kering shares tumbled on Thursday after the Gucci owner reported a sharp drop in second-quarter sales and said it could see a 30% slump in firm-wide profits in the second half of 2024.

Eyewear giant EssilorLuxottica has agreed to buy US streetwear brand Supreme for $1.5bn, expanding its brand portfolio beyond eyewear and lenses for the first time.

German sportswear maker Adidas is increasing its full-year earnings guidance after a better than expected second quarter, it said on Tuesday, in its second upgrade this year.

Hugo Boss shares plunged as much as 10% Tuesday after the company cut its sales outlook, becoming the latest high-end fashion line to warn of persistent woes in the luxury sector.

Shares in Burberry plunged over 16% on Monday after a disappointing first-quarter performance led it to issue a profit warning, replace its CEO and axe its dividend.

Zara owner Inditex has bought a stake in the United States-based sustainable agriculture startup Galy as part of its strategy to plug money into the sustainable economy, its CEO, Oscar Garcia Maceiras, said on Tuesday.

Nike topped fiscal fourth-quarter earnings estimates, but sales and first-quarter guidance fell short amid softer consumer demand in North America and China.

Italian sportswear brand Golden Goose postponed its Milan IPO on the grounds that the European Parliament elections and the call for a snap election in France have led to “significant deterioration” in market conditions.

Adidas shares dropped 4% on Monday after the German sportswear brand said it was investigating allegations of corruption in China after receiving an anonymous letter.

Lululemon Athletica  posted a strong quarter driven by growth across international markets, alleviating some concerns that demand for its hundred-dollar leggings was plateauing.

Spanish fashion retailer Tendam reported on Thursday a 10% rise in core earnings for its 2023 financial year and forecast lower to steady first-quarter growth as the company mulls an initial public offering.

Zara owner Inditex reported a pick-up in recent sales from its Spring/Summer collections, boosting its shares on Wednesday as the world’s top fashion retailer delivered quarterly results in line with expectations.

PVH Corp., the company behind Tommy Hilfiger and Calvin Klein, raised its profit outlook for the full year on Tuesday despite weaker quarterly sales, saying it was confident in its longer-term plans to grow sales and profit in North America and abroad.

Shares of Gap climbed about 23% in premarket trading on Friday after the apparel retailer raised its full-year sales forecast signaling that its turnaround strategy to bring in newer styles is starting to work.

JD Sports shares fell 7% on Friday after the sportswear seller just managed to hit the bottom end of its already-lowered profit guidance for the full-year 2024 and fell short of analysts expectations.

Birkenstock raised its annual revenue and core profit forecasts on Thursday as the German sandal maker bets on full-price selling and strong demand for its cork-based sandals and newer closed-toe styles, sending its shares up 10% premarket.