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Fashion Retail

All articles tagged with #fashion retail

business1 year ago

"H&M CEO Abruptly Quits Amid Disappointing Earnings and Share Tumble"

H&M's CEO Helena Helmersson has stepped down after the company reported a 4% drop in sales for December and January, leading to a 12% decrease in shares. Daniel Ervér, a long-time company veteran, has taken over as CEO, aiming to achieve a 10% operating margin this year. The fashion retailer has struggled to keep up with competitors like Inditex and Shein, and its fourth-quarter operating profit margin fell to 7.2%. Despite the disappointing results, H&M's chairman Karl-Johan Persson remains optimistic about the company's potential for improvement.

via Fox Business|
#business#ceo-change#fashion-retail
business1 year ago

"H&M CEO Resigns Amid Sales Slump and Leadership Shake-Up"

H&M's chief executive, Daniel Erver, has resigned after the fashion chain reported a sales slowdown and profits below market expectations. The company is facing fierce competition from rivals like Zara and Shein, with shares dropping 10% following the announcement. H&M, which has been a staple on UK High Streets since 1976, is grappling with challenges in the fashion retail market, including online competition and a squeeze on consumer spending. The company's annual profits to November were below analysts' expectations, and it has faced criticism for issues such as sizing inconsistencies and controversial advertising.

via BBC.com|
#business#ceo-resignation#competition
business1 year ago

H&M CEO Resigns Amid Sliding Sales and Share Drop

H&M's CEO unexpectedly quit after the company reported a 4% drop in sales for December and January, causing shares to plummet by 8%. The retailer has struggled to compete with fast fashion giants like Zara and Shein, and its fourth-quarter operating profit margin fell to 7.2% from 7.8%. The new CEO, Daniel Ervér, aims to focus on profitability and reach a 10% operating margin this year, but analysts are skeptical about the company's ability to meet this target.

via New York Post |
#business#ceo#fashion-retail
business2 years ago

Temu Files Lawsuit Against Shein for Alleged 'Mafia-Style Intimidation'

Temu, an Alibaba rival owned by PDD Holdings Inc, has filed a lawsuit against fast-fashion retailer Shein, accusing it of intensified anti-competitive practices. The lawsuit alleges that Shein implemented a "desperate plan" to undercut Temu's business, including issuing copyright takedown notices and enforcing exclusive agreements with fashion suppliers. Temu also claims that Shein coerced Chinese suppliers to surrender phone passwords and transaction records related to Temu. Shein, which is reportedly pursuing an IPO in the US, has yet to respond to the allegations. Temu's entry into the US market is said to have contributed to a decline in Shein's valuation.

via Yahoo Finance|
#anti-competitive-practices#business#fashion-retail
business2 years ago

Express and WHP Global acquire Bonobos from Walmart for $75 million.

Walmart is selling Bonobos, a menswear brand, for $75 million to fashion retailer Express and management firm WHP Global. WHP Global will buy Bonobos's brand for $50 million, while Express will acquire Bonobos's operating assets and assume the related liabilities of the business for $25 million. This move is a sign that Walmart is unwinding some of its e-commerce plays.

via The Wall Street Journal|
#bonobos#business#express