Asos Says It Will Take ‘Necessary Actions’ After 18% Drop in Sales
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
The surge in demand, and share price, may not live up to sales growth predictions.
New US legislation could cause an exodus of Chinese tech giants from American stock exchanges. At a time when fashion companies are more reliant than ever on these e-commerce players the stakes are high.
The e-commerce platform's potential listing could come as early as the second half of the year.
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Without a reliable revenue stream, retailers with ample cash on hand are better positioned to weather the storm, analysts say. But some categories are faring better than others, like sportswear and heritage luxury.
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Trading on US stock exchanges was halted immediately after opening, as the benchmark S&P 500 fell to its lowest since June 2019.
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The luxury e-commerce platform's owner Neiman Marcus is working with Morgan Stanley on the planned listing, which could take place as early as April, according to people familiar with the matter.
The ailing American department store chain's CEO is shifting the company's strategic priorities in attempts to tackle its $154 million first-quarter financial loss.
Shares of the denim company sank as much as 6.6 percent after Goldman Sachs issued its first sell rating.
The luxury reseller made its stock market debut selling 15 million shares for $20, with the company valued at around $1.6 billion.
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth.
The effort to force TikTok’s Chinese parent company ByteDance Ltd to divest its ownership of the social media platform would quickly become law under a plan outlined Wednesday by House Speaker Mike Johnson.
The French publisher has appointed Tunis-based firm Nissa Editions Group as the local licensing partner and Cairo-based fashion media veteran Susan Sabet as both managing director and editor-in-chief of the new title.
The US Federal Trade Commission (FTC) is preparing to sue to block Coach parent Tapestry’s $8.5 billion deal to buy Michael Kors owner Capri Holdings, NYT Dealbook reported on Wednesday, citing people familiar with the matter.
Harvey Nichols has named Julia Goddard chief executive following the departure of Manju Malhotra — who held the post for 25 years — in late 2023.
The capital injection will strengthen the company’s earlier pivot from being an African designer e-commerce site to being a business-to-business venture helping emerging brands enter global retailers.
The German sportswear company now expects to generate operating profit of around €700 million ($743 million), an increase from the previous target of €500 million.
Amid a luxury slowdown, strong performance by LVMH’s perfumes and cosmetics and selective retailing divisions show a healthy appetite for beauty.