Adidas on August 4 said operating profit fell by 28% in Q2 to €392 million, as results suffered from it suspending business in Russia, higher supply chain costs and COVID-19 lockdowns in China and Vietnam.
Retailer Next, a mainstay of Britain's shopping streets, defied the economic gloom on Thursday to lift its full-year sales and profit forecasts after warm weather in June and July spurred better-than-expected trade.
Euro zone retail sales plunged more than expected in June as prices at factory gates continued to rise, data showed Wednesday, signalling a weakness in consumer demand that could herald a recession in H2.
JD Sports Fashion on Tuesday confirmed that Régis Schultz has been appointed as its new CEO “following an extensive executive global search process” and after speculation last week that he would be named to the post.
VF Corporation announced on Thursday revenues for the first quarter increased by 3%, on the back of double-digit growth its The North Face brand, offsetting a dip in its Vans business and plunging APAC sales.
Timberland and Hong Kongese label Clot have unveiled their first joint capsule collection inspired by traditional Chinese art, created solely using natural and sustainable materials, including 100% bio-sourced cotton.
Chinese billionaire Jack Ma plans to give up control of financial technology company Ant Group Co in an effort to move away from affiliate Alibaba Group Holding Ltd, the Wall Street Journal reported on Thursday.