By Reuters Published October 8, 2024 Shein‘s British business made GBP1.55 billion ($2.03 billion) in revenue in 2023 and a profit before tax of GBP24.4 million, a filing by the online fast-fashion group showed on Tuesday, as the company prepares for a planned listing in London. Shein’s rapid growth, fuelled by its low-cost business model [...]read moreOnline retailer Shein’s 2023 sales hit $2 billion in UK
By Bloomberg Published Aug 29, 2024 Asics Corp. is shutting down its baseball equipment business as it focuses on sneakers that have become a cult favorite in Japan and overseas. Asics The Kobe-based owner of the Onitsuka Tiger brand will stop selling gloves, bats and other gear in late September 2025, a company spokesperson said [...]read moreAsics to exit baseball business to focus on cult hit sneakers
By Reuters Published Aug 8, 2024 Japanese cosmetics powerhouse Shiseido fell by its daily limit in Tokyo trading on Thursday following midyear earnings that were hit by restructuring costs and slumping demand in China. Shiseido Shiseido becomes the latest casualty among luxury brands, including Cartier-owner Richemont and Gucci‘s Kering, to be stung by slowing growth [...]read moreJapan’s Shiseido becomes latest luxury brand hit by China slump, shares plunge
By Reuters Published Aug 7, 2024 Nivea maker Beiersdorf missed expectations for half-year operating profit on Wednesday, and said the luxury market slowdown in China had hit the sales of its La Prairie brand. La Prairie Beiersdorf’s shares fell 4.7% and were at the bottom Germany’s blue-chip index in early trading. Sales of high-end beauty [...]read moreBeiersdorf misses profit forecast, says slow China hit luxury brand sales
While the UK’s weather does seem to have improved from the soggy conditions of recent moths, it’s still far from offering a sustained, summer-like environment and is continuing to dampen retail sales. Photo: Pexels That’s according to the latest CBI Distributive Trades Survey, which said this week that retail sales volumes fell at an accelerated [...]read moreUK retail sales continued to take wet weather hit in July
By Reuters Published Jul 16, 2024 Shoppers are likely to spend roughly $14 billion during Amazon‘s Prime Day two-day shopping event this week, according to projections from Adobe Analytics, a firm that studies e-commerce transaction data. Reuters Spending at Amazon on Tuesday and Wednesday could rise 10.5% from Prime Day 2023, Adobe said. The online [...]read moreAmazon Prime Day sales to hit record $14 billion, data firm says
It’s also possible that schools targeted more academic support to older children and teens. “We can see it as a call to action to make sure that we, as an educational community, are prioritizing those early grades,” Huff said. Those are critical years when children learn their letters and numbers and start reading and counting. [...]read moreThey Weren’t Yet in School When COVID Hit. The Pandemic Still Set Back the Youngest Students.
Canada’s Roots on Tuesday said sales were down 9.7 percent to $37.5 million in the first quarter, thanks to lower direct-to-consumer (DTC) sales during the three months. Roots The lifestyle brand said DTC sales, made up of retail store and e-commerce sales, were $31.4 million, down 11.3% year-over-year, driven by lower markdown sales, as a result of improved [...]read moreRoots Q1 sales hit by DTC
The median United States asking rent rose 0.8 percent year over year in May to $1,653, the highest it’s been since October 2022. At Inman Connect Las Vegas, July 30-Aug. 1 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us. United States [...]read moreNational Rents Hit Highest Level Since 2022 Despite More Inventory
The bad news is that British retail sales to the EU have plummeted by almost £6 billion since Brexit. The worse news is that fashion has been particularly hard hit with a drop of more than 60%. Shutterstock That’s according to a new study from economics research consultancy Retail Economics and DTC e-commerce platform Tradebyte. [...]read morePost-Brexit UK sales to EU plunge, fashion is worst hit