The world’s biggest retailer of Ikea goods said on Wednesday CEO Jesper Brodin was stepping down after eight years, to be succeeded by Spaniard Juvencio Maeztu, the first non-Swede to lead the group. Read More
Austrian fibre manufacturer Lenzing generated sales of 1.34 billion euros in the first half of the year, which was higher than in the same period last year. EBITDA increased by 63.3% to 268.6 million euros. Read More
Gildan Activewear Inc. agreed to buy US underwear maker Hanesbrands Inc. for about 2.2 billion dollars in cash and stock. Read More
Positive news first. Total UK retail sales increased by 2.5% in July (06 July-2 August), against growth of just 0.5% seen in July 2024. That’s according to the monthly KPMG/BRC Sales Monitor. Read More
The US and Canadian arms of Claire’s have already filed for bankruptcy protection and now the UK/Ireland arm is set to file for administration, with 2,150 jobs on the line. Read More
Tapestry kept up a brisk pace of sales in the April-June quarter, with revenue likely growing 5.5%, thanks to growing demand for its stylish handbags that are more affordable than traditional luxury labels. Read More
Walmart has expanded its 10% employee discount to nearly all of its grocery items, as the retail giant looks to retain workers, the Wall Street Journal reported on Wednesday. Read More
The 15.5% of SMCP’s capital that had been improperly transferred to a trust by its Chinese shareholder, who defaulted in 2021, have just been returned to the Luxembourg holding company that held them. Read More
At least 146 people have been in touch with UK police alleging crimes by former Harrods owner Mohamed Al-Fayed since authorities opened a new probe last year, the Metropolitan Police confirmed on Wednesday. Read More
Music offers an insightful way to map the fortunes of the luxury industry. It’s a useful complement to more traditional measures of brand buzz, such as Google searches and social media conversations. Read More
