New York – In order to help mitigate the global coronavirus pandemic, many luxury brands have either shut down their factories entirely or taken measures to flatten the curve by reducing shifts and offering their manufacturing capabilities to make masks, disinfecting hand soap and other medical gear. […]

Li & Fung Limited has said in a statement its core operating profit (COP) decreased by 22.9 percent to 228 million dollars for the year to December 31, 2019 due to reductions in turnover and margin pressure in the Supply Chain Solutions business. The company added that turnover decreased by 10.1 […]

Marks & Spencer has said it expects its clothing, home and international businesses to be “severely impacted” by the Covid-19 pandemic which continues to disrupt the global retail industry. The British retail giant said it is seeing “substantial sales declines” in its clothing and home department, and […]

Earlier this month a U.S.-based labor rights group reported French casualwear brand Lacoste was producing gloves in a Chinese detention camp. The D.C.-based Worker Rights Consortium stated Uigher Muslims and imprisoned other ethnic minorities are being forced to sew the Lacoste-branded gloves, which […]

Frasers Group has announced that its board expects COVID-19 to cause significant disruption to the business, including reducing customer footfall and therefore expects that the group will not achieve the range of guidance of 5 to 15 percent EBITDA growth for the financial year ending April 26, 2020. […]

Fourth quarter net sales at RTW Retailwinds, Inc. were 224 million dollars compared to 247.3 million dollars in the prior year, reflecting a 7.4 percent reduction in comparable store sales, and a reduction in store count. Gross profit as a percentage of net sales decreased 460 basis points to 24.2 percent. […]

Next brand full price sales were up 4 percent, while brand total sales including markdown sales were up 3.5 percent on last year. The company said in a statement that group profit before tax was up 0.8 percent and earnings per share (EPS) were up 5.6 percent on last year. The company added that group […]

Given the ongoing escalation of the COVID-19 pandemic, Burberry Group plc has said in a statement that since 24 January 2020, trading has deteriorated significantly with comparable retail store sales tracking between negative 40 percent and negative 50 percent over the last six weeks. The company witnessed […]

The Textile Exchange has announced the release of a new Responsible Mohair Standard (RMS), which is based on and closely aligned with the Responsible Wool Standard (RWS), announced in 2016 and recently underwent its first revision. Both standards are structured around the Textile Exchange Animal Welfare […]

Tailored Brands, Inc. for the fourth quarter reported GAAP net loss of 38.6 million dollars compared to net earnings of 3.8 million dollars last year, while diluted loss per share was 80 cents compared to diluted EPS of 8 cents last year. On an adjusted basis, net loss was 22.5 million dollars compared […]

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