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Walmart sees smaller profit drop as discounts draw shoppers, but clothing struggles
Walmart nudged up its annual profit forecast on August 16, partly reversing a hefty recent cut, as discounts to clear excess merchandise and lower fuel prices helped it beat expectations for quarterly sales.
Fashion
Business
Wolverine Worldwide’s revenue up 12.9% in Q2
Wolverine Worldwide posted revenue of $713.6 million in the second quarter for growth of 12.9 per cent versus the prior year. Excluding Sweaty Betty, revenue was $666.2 million, a record for the period.
Fashion
Business
Burberry receives SBTi approval for net-zero emissions target
British luxury brand Burberry has received approval from the Science Based Targets initiative (SBTi) for its net-zero emissions target.
Luxury
Business
H&M returns to Alibaba's Tmall, 16 months after Xinjiang controversy
Swedish fashion giant H&M's official store on Alibaba's Tmall e-commerce platform has re-opened, 16 months after the Chinese site took it down following the brand's criticisms of human rights abuses in Xinjiang.
Fashion
Retail
Design
Fashion innovator Issey Miyake dies at 84
Japanese fashion designer Issey Miyake, whose global career spanned more than half a century, has died aged 84 of cancer, it emerged on August 9.
Fashion
Design
Finland’s Marimekko to launch marketplace for second-hand goods
Finnish lifestyle design company Marimekko is planning to launch a community-driven marketplace for its vintage and second-hand goods, Marimekko Pre-loved, on August 25.
Fashion
Design
Dolce & Gabbana champions promising young British designer Matty Bovan
Domenico Dolce and Stefano Gabbana, with their luxury label's style department, are working with Bovan to develop his Spring/Summer 2023 collection, which will première on the Milanese runways next September.
Luxury
Design
The Lycra Company partners with Browzwear
Sustainable fiber and technology solutions firm the Lycra Company announced on Tuesday a partnership with Browzwear, the industry's leading 3D software for apparel design and development.
Fashion
Industry
Appointments
I Saw It First founder exits after Frasers buy, CEO stays on
Frasers Group may have brought Missguided founder Nitin pass back to run that business after it acquired it out of administration, but it’s not gone for continuity with another buy, that of I Saw It First.
Fashion
Appointments
Joules names Jonathon Brown as new CEO
Lifestyle retailer Joules said it has found a new CEO to replace Nick Jones. Jonathon Brown will join on 7 September 2022 and will take over fully at the end of next month “following a short handover period”.
Fashion
Appointments
Primark creates customer chief role, names Michelle McEttrick to post
Primark has named Michelle McEttrick to the new Chief Customer Officer role, “to develop the Primark brand and customer strategy as the business continues its expansion across new markets, channels and products”.
Fashion
Appointments
Tapestry names Scott Roe to dual role of CFO and COO
Tapestry, the owner of Coach, Kate Spade, and Stuart Weitzman, has given Scott Roe, its current chief financial officer (CFO), additional responsibility as chief operating officer (COO) of the company.
Luxury
Appointments
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