Latest Articles in Business

Damson Madder expands into eyewear for fifth anniversary

London-based Damson Madder has expanded into the eyewear category for the first time to celebrate its fifth anniversary. The launch comes as part of a month-long series of marketing activations for the British womenswear brand, and alongside the launch of its spring/summer 2025 collection. As such, the label’s first eyewear collection intends to...

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Crystal group Swarovski marginally increases sales in 2024

Austrian company Swarovski Crystal Business recorded sales growth of six percent to 1.9 billion euros in the year to December 31, 2024. The growth driver was the jewellery segment, which grew by 9 percent, three times as fast as the general market, the company stated in a press release. All regions contributed to the growth, however Europe lead...

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Clothing rental as a business model: 6 Lessons from 10 years of Lena the Fashion Library

Many clothing rental companies have come and gone in recent years, but Netherlands-based Lena the Fashion Library has remained steadfast. Co-founder Elisa Jansen admitted that it wasn't always easy, having only found the perfect pay-as-you-borrow business model after five years. “You have to be patient and really dare to test it if you are going...

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Alanui co-founders repurchase stake in brand from Farfetch’s New Guards Group

Carlotta and Nicolò Oddi, the co-founders of Alanui, have regained their majority stake in the Italian knitwear brand that had been held by New Guards Group (NGG), a Milanese production and distribution company owned by Farfetch. Upon the transaction’s completion, Alanui will independently manage its business, from operations to distribution....

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Shaftesbury Capital sells stake of Covent Garden to Norwegian sovereign

Landlord Shaftesbury Capital has agreed to sell a 25 percent non-controlling interest in London shopping estate Covent Garden to Norges Bank Investment Management (NBIM), the Norwegian sovereign wealth fund. The transaction is valued at 2.7 billion pounds, aligning with an independent valuation dated December 31, 2024, with gross cash proceeds...

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Asos anticipates profitability improvement for H1, Heartland owner ups stake

British e-tailer Asos has issued an update on its forecasts for the first half of fiscal year 25 ahead of the release of its financial results for the period due April 24, 2025. The company is expecting its profitability to significantly improve despite what it said was a “continued volume deleverage”. Its adjusted sales growth is projected to...

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Footwear retailer Caleres reports drop in sales and earnings

Fourth quarter net sales at footwear retailer Caleres of 639.2 million dollars, declined 8.3 percent year-over-year. The company also reported a 9.6 percent drop in Famous Footwear segment, with comparable sales down 2.9 percent, while the Brand Portfolio segment also decreased 7.2 percent. Net earnings declined to 11.1 million dollars or...

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Torrid's net income rises despite sales decline in FY24

Women’s plus-size clothing brand Torrid recorded a net sales decrease of 4.2 percent to 1.1 billion dollars for the fiscal year 2024 with a comparable sales decrease of 4.5 percent compared to last year. However, net income rose to 16.3 million dollars or 16 cents per share, and adjusted EBITDA increased to 109.1 million dollars. The company...

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Nike struggles amid sales slump and layoffs, forecasts margin pressure

Nike, a leading sports maker, is facing challenges in a year marked by declining sales and corporate layoffs, as it strives to regain momentum. The company's third-quarter results revealed a 9 percent revenue decrease to 11.3 billion dollars. The gross margin dropped by 330 basis points to 41.5 percent, net income fell 32 percent to 0.8 billion...

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J.Crew enters into multiyear partnership with US Ski & Snowboard

J.Crew has become the official lifestyle apparel partner for US Ski & Snowboard, as it signs the first partnership of its kind to collaborate on the development of exclusive product lines, high-profile campaigns with top American athletes, and initiatives that uplift the wider ski community. Embarking on a three-year partnership, J.Crew's...

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Cato Corp. to close stores and cut jobs in response to financial struggles

The Cato Corporation reported a net loss of 14.1 million dollars or 74 cents per diluted share for the fourth quarter ended February 1, 2025. Sales for the quarter of 155.3 million dollars, decreased 10 percent and comparable sales also decreased 5.1 percent. "Our fiscal 2024 sales trend was negatively impacted by continued pressure on our...

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Concept store Sprmrkt returns to Amsterdam

Concept store Sprmrkt, founded by entrepreneurs Nelleke Strijkers and Annika Beekmans, is reopening in the Dutch capital Amsterdam. The store is set to relaunch in July 2025, according to a press release. Sprmrkt will be an “innovative, multidisciplinary space” where “creativity and social impact converge.” The store concept will continue to...