Tag: Apparel and Textile Products

Under Armour forecast a surprise drop in annual sales and projected profit below analysts’ estimates on Thursday, as the apparel maker laid out a plan to simplify its business in the face of weak demand for its sportswear in the United States.

Burberry on Wednesday said the slowdown in the luxury goods market hit its sales in the final quarter of 2024 and led to a sharp 34% drop in its full-year profits.  

Fast-fashion giant Shein is stepping up preparations for a London listing after its attempt to float itself in New York faced regulatory hurdles and pushback from U.S. lawmakers, two people with knowledge of the matter said.

Revenues at Italian luxury group Salvatore Ferragamo  fell 16.6% at constant exchange rates in the first quarter, with China proving difficult and amid a general slowdown in sales in all geographies and channels.

Coach handbag maker Tapestry cut its annual sales forecast and missed third-quarter revenue estimates on Thursday, signaling that demand for its handbags and accessories would remain weak in North America and China.

 Kering’s shares slumped on Wednesday, after the French luxury goods company warned it expected a 40% to 45% plunge in first-half operating profit.

The Federal Trade Commission is seeking to block luxury retailer Tapestry from purchasing Capri Holdings for $8.5 billion, arguing that the acquisition would curb competition in the market for less expensive luxury handbags.

Shares of Adidas jumped 8.2% on Wednesday after the company unexpectedly raised its full-year guidance and reported a year-on-year profit increase in the first quarter.

Levi Strauss beat earnings expectations and raised guidance for fiscal 2024, giving the stock a boost in after-hours trading.

Shares of PVH were trading sharply lower after the apparel company issued a sales warning.

Shares of H&M leapt 14% in early deals on Wednesday, after the Swedish retailer significantly beat profit expectations for its fiscal first quarter.

Lululemon’s holiday earnings topped expectations, but its growth in North America is stagnating as it laps tougher comparisons and grapples with a slowdown in demand.

Nike reported holiday sales that beat expectations, but its growth in China continued to slow.

Shares of French luxury group Kering plunged 14% on Tuesday after the company warned that Gucci sales look set to fall 20% year-on-year in the first quarter, amid declining Asia transactions.

Shares of Spanish clothing company Inditex, which owns Zara, rose to an all-time high on Wednesday.

German sportswear giant Adidas posted its first annual loss in more than 30 years on Wednesday and warned sales in North America would fall again as sportswear retailers in the U.S. struggle with high inventories.

Investors want Zara owner Inditex to follow rivals H&M and Primark in making its full list of suppliers public so they can better assess any supply chain risks.

Gap beat Wall Street expectations for fourth-quarter results on Thursday, buoyed by strong demand on improved product offerings at its Old Navy and namesake brands during the holiday season and lower markdowns.

Shares of Hugo Boss were plunged more than 18%, before paring losses slightly Thursday, after warning that it may fail to meet its 2025 sales target.

Sales at Salvatore Ferragamo continued to weaken year-on-year in January after dragging operating profit down 44% profit in 2023, but stabilised in February, the chief executive of the Italian luxury goods group said on Wednesday.