Asda’s sales went into reverse in Q1 as the privately held supermarkets giant that owns the George clothing label suffered against tough comparisons with the year ago period and also from inflation hitting hard.
Q1 figures for Farfetch were more muted than some of its recent results and the company warned about the near-term impact of the macroeconomic backdrop that’s currently hurting fashion businesses at all price levels.
Just six weeks after being bought in a rescue deal, shirtmaker TM Lewin has relaunched e-commerce. Currently carrying the reborn label’s initial SS22 range, additional lines are “to be added in the coming weeks”.
Ulta Beauty announced on Thursday record-breaking financial results for the first quarter, as the cosmetics company logged revenue and earnings surges, thanks to increased comparables sales fuelled by consumer demand.
American Eagle Outfitters Inc. announced on Thursday revenues for the first quarter inched forward 2%, as the youth apparel retailer's namesake American Eagle brand and online channel saw steep declines.
Gap slashed its annual results forecast on Thursday, sending shares 13% lower after hours as the clothing retailer blamed poor fashion choices at its Old Navy line and weak demand in the face of decades-high inflation.
Macy's raised its annual profit forecast on Thursday, helped by strong demand for high-margin apparel from consumers returning to weddings and other social events, even as red-hot inflation saps consumer spending power.
Upbeat profit forecasts from Nordstrom and Ralph Lauren underscore the edge high-end chains have over the wider U.S. retail industry in an inflationary environment, thanks to the deep pockets of their customer base.
Dick's Sporting Goods announced on Wednesday revenues for the first quarter fell by more than 7%, on the back of plunging comparable sales, as the company was hurt by "evolving macroeconomic conditions."