Loehmann's, the US-based value fashion retailer, has filed for bankruptcy. According to papers filed the 39 store retailer has accumulated over 100 million dollars of debt. The company, which employs around 1,600 staff, said in court papers that it reached an acquisition agreement with liquidators SB Capital Group, Tiger Capital Group, and A&G...
Dec 17, 2013
Luxury hosiery brand Wolford is to refocus its product offer and will exit its swimwear category. The Austrian company, which is famous for its collaborations with catwalk designers such as Valentino and Giorgio Armani, will focus on legwear, its core business. Wolford said its swimwear product group will be discontinued beginning with the...
Dec 12, 2013
Luxury brands have seen a drop in sales in South Korea, despite the Asian sector remaining a strong sales territory for most luxury companies. South Korea's economic turmoil has affected consumer confidence, especially spending on high end fashion and luxury goods. In figures, Burberry Korea’s sales fell 5.3 percent to KRW228.1bn (approximately...
Jul 12, 2013
Ailing high street retailer French Connection has posted a pre-tax loss of 7.2 million pounds over the year to January 31st. The company stated its revenues fell 8 percent to 197.3 million pounds last year from 215.4 million pounds in the previous year. Whilst it said its cash balance remains strong and the company is out of debt, French...
Mar 13, 2013
German sporting giant Puma German suffered a 45.8 million dollar loss in the fourth quarter of 2012 and has recently announced that it will close 90 stores in China as part of its global cost-cutting measures. “The age of high profit and growth rate in sportswear industry has gone that it’s difficult for sportswear companies to follow the...
Mar 6, 2013
French Connection is selling part of its store portfolio after a review its retail division in March. Financially the company has lagged behind other high street conglomerates and this year saw its pre-tax profit fall from £7.3m to £5m, although its biggest loss came from its British and European retail business, which fell from a loss of £1.6m...
May 1, 2012
H&M reported a less than expected 15% fall in its third quarter profits as it fought against the effects of a strong Swedish currency and poor summer weather on sales. Net profit for the three months to 31 August was 3.59 billion kronor down from 4.24 billion kronor in the same period a year earlier. Total sales for the quarter reached 26.91...
Sep 29, 2011
Once a high street brand to be reckoned with, Esprit has lost its lustre, delivering marginal product season after season at a time when consumers needed to be inspired. When all of a company's efforts and finances are being channeled into global expansion and restructuring, it is no wonder its product suffers. While Esprit remains Hong Kong’s...
Sep 16, 2011
Debt-laden fashion retailer New Look has embarked on a property review as part of its turnaround as the search for a new chief executive gets under way. Group property director Richard White, who joined the business in February, has begun a review of the 604-store estate in the UK. He has hired property adviser CB Richard Ellis to analyse the...
Aug 30, 2011
Increasing cotton prices and labour costs in China more expensive than ever will leave international retailers facing wholesale clothes prices up to 15 per cent higher than in 2010. International rating agency Fitch said recently that US consumers would probably face an increase in the price of apparel as retailers face the first prolonged...
Apr 27, 2011
US retail sales delivered its strongest performance since 2006 over the two months of the holiday shopping season, despite not meeting Wall Street expectation. The International Council of Shopping Centers, which tracks monthly sales data of 32 retailers, said its index of December same-store sales, delivered on Thursday, rose 3.1 per cent...
Jan 10, 2011
Sales at retailers in the US unexpectedly fell in May for the first time in eight months, but a jump in consumer sentiment to a near two-and-a-half-year high in early June eased fears of a slowdown in the economic recovery. The drop in sales reported by the Commerce Department followed last week's data which showed a step back in private hiring...
Jun 14, 2010
