Tag: Apparel and Textile Products

Shares of Kering plunged on Friday after the company announced that Demna Gvasalia would take the reins as new artistic director of its ailing Gucci fashion line.

Donatella Versace is to step down as chief creative officer of the Versace brand after almost three decades in the role, owner Capri Holdings said on Thursday.

Zara owner Inditex on Wednesday posted a year-on-year rise in fourth-quarter sales that met expectations, even as the retailer pointed to a slowdown in demand at the start of the year.

Gap’s sales were stronger than expected during its crucial holiday quarter, sending shares for the retailer climbing.

Adidas said it expected sales growth to slow this year and forecast lower-than-expected operating profit, even as Germany’s biggest sportswear group set out its ambition to be the leading brand in most markets worldwide.

The apparel retailer issued weaker-than-expected guidance for its current quarter and fiscal 2025, and said it expects its sales will grow more slowly than Wall Street anticipated.

Birkin bag maker Hermes reported higher sales for the final quarter of 2024 boosted by a strong performance in the Americas, adding to signs of a rebound in demand for luxury goods.

Sales at French luxury group Kering have been weighed down by weak performance at its biggest brand Gucci, as investors wait for a new designer to be named to lead a stalled turnaround.

Shares of Coach parent Tapestry rose about 12% on Thursday after the company beat holiday-quarter sales expectations and boosted its full-year forecast.

Ralph Lauren raised its annual revenue forecast on Thursday, betting on more younger shoppers picking up its spring collection of dresses, skinny cuffed trousers and floral dinner jackets.

Capri Holdings forecast revenue for the year as well as fiscal 2026 below Wall Street estimates on Wednesday, as the Michael Kors owner grapples with slowing demand for luxury goods, especially in the Americas and Asia.

Shares of H&M dropped more than 5% on Thursday after the world’s second-largest retailer missed sales forecasts in the fourth quarter.

Apparel and footwear maker VF Corp beat third-quarter revenue and profit estimates on Wednesday, helped by efforts to revive demand and refresh the product lineup of its Vans, North Face and Timberland brands.

Adidas plans to cut as many as 500 jobs in a bid to simplify its business, a person familiar with the matter confirmed to CNBC on Thursday.

Puma lost a fifth of its market value on Thursday after the German sportswear brand reported lower than expected fourth-quarter sales and a drop in annual profit, raising questions about its ability to compete with bigger rivals Adidas and Nike.

Adidas reported what it said were better than expected preliminary fourth-quarter results on Tuesday, with strong sales and profitability for the important holiday shopping period, sealing a successful turnaround year.

German shoemaker Birkenstock said on Tuesday Chief Financial Officer Erik Massmann will step down after nearly two years in the role, and will be succeeded by Ivica Krolo.

British sportswear retailer JD Sports Fashion downgraded its profit forecast after weaker trading in Britain and the United States and promotional activity at competitors hurt sales, and it warned the outlook was “cautious”.

Brunello Cucinelli said it expects to grow strongly in the coming years after it reported better-than-expected revenue for the fourth quarter despite a slowdown in demand for luxury goods that is hurting most of its rivals.

Lululemon Athletica and Abercrombie & Fitch raised their current-quarter sales targets on Monday, helped by demand for heavily discounted apparel during the holiday season, even as steep promotions took a bite out of some retailers’ margins.