UK retail giant Next has recently made a significant move in the luxury online shopping sector with the launch of Seasons, a dedicated e-commerce platform aimed at high-end brands. This initiative comes in the wake of various challenges faced by established luxury e-tailers, such as the collapse of Matches Fashion and the consolidation seen in […]
Next Raises Outlook Again With Profit Set to Top £1 Billion
Next Plc, a prominent player in the British fashion and homewares sector, has once again raised its profit guidance, now anticipating an annual pretax profit of over £1 billion ($1.3 billion) for the first time. This marks the third upward revision this fiscal year, with earlier expectations set at £995 million and initially at £980 […]
The TikTok ‘It Boy’ Who’s Getting Men to Wear Makeup
In the blossoming world of social media, few names resonate quite like Bach Buquen. This 19-year-old Parisian has transformed from a mid-tier content creator into a social media sensation, currently boasting over 6.1 million followers on TikTok. What sets Buquen apart is his challenge to traditional gender norms through makeup, a practice he began in […]
US Port Strike Resolved: What It Means for the Retail Industry
The temporary resolution of the dockworkers’ strike at US East and Gulf Coast ports marks a pivotal moment for the retail industry, especially as the holiday season approaches. The International Longshoremen’s Association (ILA) recently announced that dockworkers have agreed to suspend their strike until January 19, allowing cargo operations to resume while negotiations on a […]
Next Warns of Store Closures After Losing Equal Pay Claim
Next Plc, a leading British fashion retailer, recently sent shockwaves through the industry by announcing potential store closures following a significant legal ruling regarding equal pay. The company is facing pressing financial implications stemming from a tribunal’s decision that recognized wage disparities affecting its predominantly female shop-floor staff compared to their male counterparts working in […]
Under Armour Expects Bigger Charges From Restructuring Plan
Under Armour, the widely recognized athletic-wear brand, recently revised its financial outlook for the current fiscal year. This adjustment comes in light of increased costs associated with its ongoing restructuring initiative, which aims to revitalize the company’s operations. The Baltimore-based giant disclosed that it anticipates operating losses could reach as high as $240 million, a […]
PVH Corp. Reports 6 Percent Sales Drop, Driven By Weak International Segment
In a challenging quarter for global retail, PVH Corp., the parent company of iconic brands Tommy Hilfiger and Calvin Klein, has reported a 6 percent decrease in sales compared to the previous year. This downturn highlights the ongoing struggles in the international market, significantly impacting PVH’s revenue in key regions such as Asia Pacific. For […]
Nordstrom Q2 Revenue Rises on Boost From Sales Event, Shares Surge
Nordstrom, the upscale department store chain, has announced a significant boost in its financial performance for the second quarter of 2024, primarily driven by the success of its Anniversary Sale event. This increase comes at a time when consumer spending remains cautious due to ongoing inflationary pressures, showcasing the resilience of luxury retailers amidst economic […]
Next Loses Equal Pay Claim Against Mostly Female Retail Workers
In a landmark decision for workplace equality, British retailer Next Plc has been ordered by an employment tribunal to pay over £30 million in back pay to 3,540 current and former in-store sales workers, predominantly women. This ruling is particularly significant as it marks the first successful equal pay claim against a national retailer in […]
