The owner of Vans, The North Face and Timberland managed an impressive transformation in the fiscal year ended March 28, 2020, achieving a 2% increase in revenue despite a strong downturn in sales in Q4 due to Covid-19.
Fashion and luxury brands worldwide have launched a wide ranging array of sustainable initiatives, timed to coincide with the 50th anniversary of the day dedicated to environmental reform on Wednesday, April 22.
The owner of Vans and Timberland announced on Tuesday that it now expects its full-year revenues to total between $11.3 billion and $11.4 billion in fiscal 2020, down from $13.85 billion in the previous year.
A number of fashion and beauty industry players announced initiatives to support Covid-19 relief on Wednesday, with Estée Lauder and PVH both pledging $2 million, while VF revealed a donation of $1.5 million.
As Covid-19 continues to spread, Monday saw a number of North American retailers moving to protect consumers and employees by implementing store closures, including Nordstrom, Guess, Canada Goose, VF, PVH and Ulta.
As the outbreak continues in China, the American company has announced that it has closed 60% of its stores in the country, but is yet to provide a prediction of the impact the crisis will have on its financial results.
The Denver-based apparel, footwear and accessories company has announced that it has begun a review of alternatives for the occupational portion of its work segment, as it continues with its transformation plans.
The US brand no longer wants to be identified with the Yellow Boots alone, and has worked on a lifestyle range for many years. Its apparel design director introduced FashionNetwork to the brand’s new line segmentation.