Tag: Apparel and Textile Products

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.

Foot Locker’s turnaround is starting to bear some fruit.The sneaker giant saw comparable sales decline 1.8% during its fiscal first quarter, far better than the 3.1% drop-off that analysts expected, according to StreetAccount. 

American Eagle on Wednesday said it’s making gains in boosting profitability as it works to improve its product assortment and tweak operations. Still, its fiscal first-quarter sales came in weaker than Wall Street expected. 

Luxury sneaker brand Golden Goose, whose shoes sell for around 500 euros ($540) a pair, aims to list on the Milan stock exchange in June, it said on Thursday, in the biggest initial public offering in Italy in at least a year.

Shares of Ross Stores Inc. rallied in extended trading Thursday after the discount clothing chain raised its full-year profit forecast, even as higher prices continue to hit its low- to middle-income shoppers.

Deckers Outdoor stock was rising Friday after the maker of Hoka sneakers and Ugg boots reported fiscal fourth-quarter earnings that easily beat Wall Street estimates.

 Ralph Lauren on Thursday forecast annual revenue growth below market expectations and named Justin Picicci as its chief financial officer succeeding Jane Nielsen.

VF Corp posted a fourth-quarter loss and reported revenue below analysts’ estimates on Wednesday as sales declined across its brands, reflecting choppy demand for its apparel and footwear amid strained consumer spending.

Shares of Urban Outfitters Inc. gained hours on Tuesday, as the clothing retailer’s first-quarter results topped expectations, marking another three months during which high-end women’s clothing chains Anthropologie and Free People did the heavy lifting.

Lululemon athletica on Tuesday said it was implementing an new integrated design structure and announced the departure of Chief Product Officer Sun Choe. The apparel company said Choe resigned to pursue another opportunity and will leave the company later this month. Lululemon also said it doesn’t plan to replace the chief product officer role.