Tag: Apparel and Textile Products

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.

Foot Locker reported a holiday-quarter loss on Wednesday.

Abercrombie & Fitch beat holiday-quarter estimates on the top and bottom lines.

 Hermes said it will further raise prices as its sales outpaced luxury competitors at the end of 2023, helping to lift shares in the Birkin bag maker to a record high.

Under Armour Inc.’s stock rose 7% early Thursday, after the sporting apparel company beat profit estimates for its fiscal third quarter to offset revenue that came up short.

German sportswear maker Adidas expects operating profit to nearly double to about 500 million euros ($542.3 million) this year after the company’s break-up with Kanye West and the discontinuation of its Yeezy business.

Shares of Swedish retailer H&M were down 9.8% at 11:20 a.m. London time on Wednesday, after the company announced weaker sales and the surprise departure of its chief executive.

 Adidas shares rose over 4% on Thursday with traders citing good news from a call with analysts ahead of the German sportswear maker’s full-year results due in March.

Puma shares fell Wednesday after the German apparel company’s 2023 net profit and 2024 guidance came in below analyst expectations.

Watches of Switzerland shares plummeted on Thursday morning, after the luxury watch retailer cut its guidance for the 2024 fiscal year.

Shares of Hugo Boss fell as much as 11% on Tuesday after the iconic German clothing company said its fourth-quarter earnings would fall short of analyst expectations.

Britain’s Burberry blamed a worsening slowdown in demand for luxury goods for its second downgrade in three months, and warned of a tough challenge ahead as it launches a strategy to move upmarket, in a blow to its shares.