Updating its outlook for 2018, Under Armour, Inc. has said that it has identified approximately 10 million dollars of cash severance charges related to an approximate 3 percent reduction in its global workforce. Accordingly, it now expects approximately 200 million dollars to 220 million dollars of […]

Alibaba founder Jack Ma said his ambitious pledge to create one million jobs in the US had been scuppered by the trade row between Beijing and Washington, Chinese state news reported Thursday. The billionaire owner of China's largest online shopping portal made the headline-grabbing promise to Donald […]

Rocket Internet SE in H1 2018 reported 24 million euros (28 million dollars) of consolidated revenue and a consolidated profit of 297 million euros (347 million dollars) or 1.84 euros (2.15 dollars) earnings per share compared to a loss of 0.15 dollars in H1 2017. As of August 31, 2018, Rocket Internet […]

The Competition and Markets Authority (CMA) in the United Kingdom confirmed Wednesday that the proposed merger between J Sainsbury plc and Asda Group Ltd. is being referred for an in-depth Phase 2 investigation. CMA noted that the deal raises sufficient concerns through its Phase 1 investigation for […]

L-Gam Advisors Sarl, a Luxembourg-based investment company established in partnership with the Princely Family of Liechtenstein, has acquired majority stake in Woolrich International. The company said in a statement that this new agreement with L-Gam, a long-term oriented investment company, gives further […]

Zalando SE has announced that as extended and unusually hot summer period and a delayed switch to the fall/winter season weigh on revenue growth and adjusted EBIT, the company is revising its guidance for 2018. For the fiscal year 2018, Zalando now expects revenue growth around the low end of its 20-25 […]

The leading payment provider Klarna Bank AB has confirmed that it is acquiring Close Brothers Retail Finance (CBRF) to “significantly strengthen” its position in the UK market for retail financing and to enable it to accelerated growth and expansion of its consumer offering. Michael Rouse, chief commercial […]

Esprit Holdings Limited in its annual financial results for the year ended June 30, 2018, said that revenue of the group amounted to 15,455 million Hong Kong dollars (1,970 million dollars) representing a decline of 11.1 percent in local currency. The company said, decline in Hong Kong dollar terms […]

When Nike cast former NFL quarterback Colin Kaepernick in their recent campaign, the controversy couldn't have followed any faster with people burning their Nike sneakers and apparel. Kaepernick's activism both on and off the field regarding civil rights and ending police brutality made him a point […]

When Swedish clothing giant H&M opened its first store in Ukraine earlier this month, thousands of high-street fashion lovers rushed in to buy jeggings, flares and jersey dresses. But the excitement wasn't just about the affordable, colourful clothes. The store's arrival was also a sign that better […]