UK online fast fashion retailer Boohoo Group has inked a deal to buy the Debenhams brand for GBP55m (US$75.2m) in a move aimed at furthering its ambition to create the UK s largest marketplace and grow into new categories including beauty, sport, and homeware.>UK online fast fashion retailer Boohoo Group is set to acquire the global rights to the Debenhams brands and its websites in a GBP55m (US$75.2m) deal as it steps closer to achieving its goal of creating the UK s largest marketplace. The move will help it grow into new categories including beauty, sport, and homeware and raises the question of the relevance of traditional department stores in a post-pandemic environment. >
In the latest third-quarter filings from US apparel and footwear brands and retailers, Francesca s Holdings Corporation swung to a third-quarter loss of US$16.2m, PVH Corp posted what CEO Emanuel Chirico called a strong earnings performance , and Abercrombie booked its fifth consecutive quarter of positive comparable sales.>Tommy Hilfiger is to introduce 100% recycled cotton denim styles in its spring Tommy Jeans collection, thanks to support from parent company PVH s Denim Center in Amsterdam â its first hub in Europe dedicated to setting new standards for producing denim in a faster, more consistent and more environmentally-friendly way. >In the latest second-quarter filings from US apparel and footwear brands and retailers, VF Corp raised its full-year guidance on strong sales and earnings, while L Brands reported a 28.7% drop in earnings, and Urban Outfitters achieved record second-quarter sales and a jump in profit.>
Spanish clothing giant Inditex, the world s largest clothing retailer, has outlined a series of new sustainability commitments â including a pledge that 100% of the cotton, linen and polyester used by all eight of its brands will be organic, sustainable or recycled by 2025.>A coalition of more than 120 institutional investors with combined assets of more than US$14 trillion is renewing its demand for companies across the world to come forward with better data on their staff and supply chain workers, with the aim improving the quality of jobs globally. >
Unseasonably warm weather last autumn is expected to have taken its toll on like-for-like sales at Primark in the first half of the financial year, but the value fashion retailer remains optimistic of a jump in profit growth for the second half.>Unlike many other major apparel firms, value fashion chain Primark chooses not to openly set targets for its sustainability and ethical commitments, but instead just get on and do it, as Katharine Stewart, Primark s director of ethical trade, tells just-style. Yet in recent years the retailer has started to open up about its work to engage more closely with its supply chain: in particular, turning its focus to ensuring all the cotton in its products is sourced sustainably.>
In the latest third-quarter filings from US apparel and footwear brands and retailers, Boot Barn Holdings has delivered an increase in both profit and revenue with the company well-positioned to deliver a solid finish to fiscal 2020, Stage Stores has narrowed its net loss, and American Eagle Outfitters has booked record sales. Elsewhere, J.Crew Group has announced an agreement on the terms of a transaction that will enable it to separate its J.Crew and Madewell brands into two independent companies and pursue a proposed IPO of Madewell. >Following a slew of earnings slides, reports are now suggesting that L Brands founder and CEO, Les Wexner, is looking to leave the business and that it is continuing to weigh up options for its Victoria s Secret lingerie brand. just-style looks at why this could be a good move for the company.>