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Shares in UK-headquartered Ted Baker slumped 25 per cent as the latest financial results show the fashion label may be losing its mojo. After years of strong growth, the previously infallible Ted Baker says retail revenue fell by 1.1 per cent on a reported…
Abercrombie & Fitch sales rose for the second consecutive year as its restructure and new store format begins to pay off. Comparable sales rose by 3 per cent in the year to February 2, to US$3.6 billion and operating income, after excluding extraordinary…
Turnover in the Chinese retail industry will eclipse that of the US later this year, according to analyses. “Nothing is going to stop them,” said one commentator as new data emerged showing a fast-narrowing gap between the two markets. The fact China would…
Lingerie brand Victoria’s Secret needs to reinvent itself, says retail analyst Neil Saunders, commenting in the wake of a US$42.8 million loss by its parent L Brands. “The brand is simply not connecting and resonating with consumers in the way that it once…
Amazon briefly became the second US company to join the trillionaires club overnight. Like Apple just one month ago, Amazon’s market capitalisation has exceeded US$1 trillion. Neil Saunders, MD of GlobalData Retail, described the achieved as “extraordinary”…
Tapestry, the fashion retailer formerly known as Coach, has taken back operational control of its Kate Spade China joint ventures in Hong Kong, Macau, Taiwan and the mainland. CEO Victor Luis described the move as “an important business development…
Amazon’s quarterly profit reached a record US$1.86 billion in the three months to December 31, fuelled by millions of new customers to its Prime fast-shipping club. There was also a provisional $789 million boost to its bottom line from the US government’s…
US discount department store chain Target has raised its quarterly profit and sales forecasts, after a better than expected festive trading period. Comparable sales growth of 3.4 percent in the November/December period was driven by strong traffic growth and…
Canadian activewear retailer and manufacturer Lululemon has posted a 14 per cent uplift in total sales in the third quarter; same-store sales rose 8 per cent. Kevin Wathey, a consultant with GlobalData Retail, says that while other players in the sports and…
After an extended run of decline, Abercrombie & Fitch is finally back with a market-beating 4.5 per cent uplift in total sales. Although the result comes off the back of a weak prior year comparable, it nevertheless provides comfort that the group’s…
At headline level, the latest Gap Inc results are not too bad. Overall revenue rose by 1.1 per cent, a respectable increase that is some way above that posted over the last two quarters. Net income also increased by 12.3 per cent compared to the previous…
Walmart’s online sales in the US soared 50 per cent during the latest quarter, described as a stellar rate of increase which shows Walmart is growing its digital market share at pace. The world’s largest brick and mortar retailer recorded a revenue rise of…
Ralph Lauren Asia sales rose marginally in the second quarter as the company continued with its turnaround strategy. Group-wide global sales, however, fell 9 per cent to US$1.7 billion, as the troubled brand pursued initiatives aimed at increasing the quality…
Next profits have fallen for the first time in nearly a decade. The UK high street fashion retailer said pre-tax profits fell 3.8 per cent to £790.2 million last fiscal year. Emily Stella, a senior retail analyst with GlobalData, says the company has faced…
New stores in North America and China have paid off for British fashion retailer Ted Baker, which has reported a 4.4 per cent increase in pre-tax profit, despite the challenging global retail environment. It achieved a profit of £63 million for the year to…
Tiffany Asia sales rose 9 per cent on the back of new store openings in 2016, with a solid fourth quarter balancing out a difficult year. In the Asia-Pacific region, total sales of US$1 billion in the full year were approximately equal to the prior year and…
