Retail recovery race: Zara sales outpace rival H&M September 15, 2021 Sales at Zara-owner Inditex are almost back to pre-crisis levels, but arch-rival H&M is seeing a slower road to recovery. Watch the full report.
Boohoo follows in Zara’s footsteps with return fee for online orders July 12, 2022 Fast fashion retailer Boohoo has introduced a return fee of £1.99, following in the footsteps of Zara. The Manchester-based brand said it had made the decision because costs for retailers, including shipping, have increased considerably over the past few months. A Boohoo group spokesperson told The Mirror: “As the cost of shipping has increased, we’ve [...]
Asos shares slip after top exec announces departure August 17, 2022 The ASOS board have agreed a phased plan under which Mat Dunn, Chief Operating Officer and Chief Financial Officer, will step down from his roles as ASOS restructures its executive team.
US issues warning over doing business in China’s Xinjiang province July 14, 2021 The US has issued a warning to companies doing business in China’s Xinjiang province. The Xinjiang Supply Chain Business Advisory said that businesses and firms who still have supply chains and investment ties in the Chinese region ‘could run a high risk of violating US law.’ Washington cited evidence of genocide and other human rights [...]
Fast fashion retailer Shein hits $100bn valuation with fresh funding round April 6, 2022 Fast-fashion giant Shein has hit a $100bn valuation this week after a fresh funding round, making it the third most valuable startup in the world after Elon Musk’s SpaceX and ByteDance.
Slow fashion: Zara introduces return fee as customers ‘count every penny’ May 12, 2022 Zara has started charging customers who return items bought online as fast fashion giants face increasing pressure to reduce unsustainable behaviour. The retailer, owned by the world’s largest fashion company Inditex, has introduced a £1.95 fee for the return of products at third party drop off points. However, customers can still return online orders at [...]
Textile workers’ rights group: Shein ‘offering up fig leaf’ with £12m investment into factory standards December 6, 2022 Shein has left many environmental campaigners unimpressed after revealing it would invest £12.2m into improving standards at its suppliers’ factories. The Chinese retailer admitted its hours for workers at two sites breached local regulations, after allegations of worker mistreatment in a recent Channel 4 documentary. Staff at one factory were working up to 13.5 hour [...]
Superdry and Dr Martens shares tank on London exits and fears for the future April 16, 2024 Shares in Superdry tanked by over 33 per cent following an announcement by the company that it would bid adieu to the public market as part of a scramble to stay alive.
Zara owner Inditex boosts profit as it doubles down on tech December 11, 2019 The owner of Spanish retail giant Zara has posted a sharp rise in profit as increased focus on its online platform helped cut costs. Inditex today reported a 12 per cent rise in net profit to €2.7bn (£2.3bn) in the nine months to the end of October, while revenue was up 7.5 per cent to [...]
Asos warns profit will be hit as shoppers return more clothes amid cost of living crunch June 16, 2022 Asos has warned it is expecting lower profit this year after an increase in customers returning clothes due to the pressures of higher living costs. Asos lowered forecasts for the year, with sales anticipated to be in the range of four per cent and seven per cent, which it put down to “market volatility and [...]