Articles by Angela Gonzalez-Rodriguez
Debunking Sear’s eleventh-hour rescue plan
New York - Sears’ chairman Eddie Lampert reached a deal with Sears early this month to acquire 425 Sears stores and other assets for about 5.2 billion dollars after winning a bidding process. Lampert’s ESL Investments will put 850 million dollars into a new asset-based loan, according to a regulatory filing last from January, 18. "We are pleased...
Management|ANALYSIS FeaturedJan 21, 2019
Fossil Inc. sells its smartwatch technology to Google: stock soars
New York - The American group of watches and accessories Fossil Inc. has just announced the sale of its technology for the manufacture of smartwatches to Google. As announced on Thursday evening via statement, the deal includes Fossil’s intellectual property and part of the research and development team. The sale has been closed for around 35...
Management|ANALYSIS FeaturedJan 18, 2019
Primark's better-than-expected quarterly sales cheer markets
New York - The giant of affordable fashion has presented its quarterly results for the period spanning the 16 weeks ended on January, 5. The figures, which include Christmas sales, reflect an increase of 4 percent. The market has received the news with joy, sending the shares of Associated British Foods (ABF), the parent company of Primark, up...
Management|ANALYSIS FeaturedJan 17, 2019
Market cheers LULU's strong Q4 results with stock uplift
New York - Shares of Lululemon Athletica Inc. jumped in early trading Monday after the yoga apparel brand increased its fourth-quarter guidance for sales and profit. The news lifted the mood across the apparel sector, battered with overall poor holiday sales figures. Lululemon enjoyed the best holiday season in six years, therefore raising its...
Management|ANALYSIS FeaturedJan 14, 2019
Mystery “retail giant” invests alongside Amazon in IoT tech startup Wiliot
New York - Monday, a batteries-free IoT tags manufacturer startup announced that it has closed a 30 million USD round of funding. Amongst other investors, Wiliot now counts on Amazon and another “retail giant” which name remains undisclosed. Sources cited by ‘TechCrunch’ tell the startup’s valuation is circa 120 million dollars, having raised 50...
ReportJan 14, 2019
New Look falls into the hands of its creditors
New York - The British fashion retailer has put its ownership in the hands of its lenders after failing to repay its piling debt, currently at the 1.35 billion pounds mark. The deal will see 72 percent of the business secured by New Look’s creditors. New Look started the week on a positive note: after months’ worth of financial and strategic...
ManagementFeaturedJan 14, 2019
Footasylum warns of tough year ahead
The UK´s fashion retailer warned Tuesday 2019 could be a tough year and that it might resource to heavy discounting to cope with the challenging trading environment. The company will report full-year results on May, 21. The shows and clothing chain closed the year in good fashion, reporting 14 percent revenue growth on for the 18 weeks to...
ReportJan 8, 2019
Analysts expect Next’s sales to be 13 percent down year-on-year
New York - The first week of January is crucial as main apparel retailers in the UK share their Christmas trading updates. After John Lewis enjoyed the benefits of last-minute shopping, the City expects Next to report disappointing figures, forecasting in-store sales could be down as much as 13 percent. Analysts at Jefferies said last week that...
ReportJan 2, 2019
Jeff Bezos validates his title as the ‘richest person of the world’
New York - Amazon founder Jeff Bezos has gotten its ‘richest man in the world’ title re-assured as his personal worth increased by 24 billion to 123 billion dollars. Inditex and Fast Retailing founders have also made it to the top 30 wealthiest people worldwide. Bloomberg Billionaires Index has been just updated, gathering the 500 largest...
ManagementFeaturedJan 2, 2019
2018, the year hackers put a target on the fashion industry
New York - This year, the world of fashion has been strongly affected by cyberattacks. From Amazon to Macy’s, we review the main hacks targeting the international textile industry. Hackers, cyberattacks and cybersecurity are some of the new words that have been cast within the everyday language of virtually every industry. The world of fashion...
BusinessFeaturedDec 31, 2018