Each week, Just Style’s journalists pick out insights from company filings that highlight sentiments in our sector. These filings signals are based on GlobalData’s analysis of earnings statements, call transcripts, investor presentations and sustainability reports. They tell us about key topics on the minds of business leaders and investors, and the themes driving a company’s activities.
This new, thematic filings coverage is powered by our underlying Disruptor data which tracks all major deals, patents, company filings, hiring patterns and social media buzz across our sectors.
The winning fashion brands based on GlobalData’s quarterly filings data
Data compiled by GlobalData suggests Indian sportswear and textile manufacturer Reliance Industries Ltd had the best fashion sentiment score (0.91) for its most recent quarterly filing compared to its previous one.
Similarly, Indian department store chain Shoppers Stop Ltd and US discount store Ross Stores Inc both had an impressive quarterly filing performance with a joint sentiment score of 0.67.
The losing fashion brands based on GlobalData’s quarterly filings data
On the flipside, GlobalData claims UK online retailer ASOS is the biggest loser based on quarterly filings over the past 90 days with a sentiment score of 0.61.
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She claimed its future was looking bleak with constant currency revenue excluding Russia expected to decline by low double-digits in H2.
However, the brand hailed a return to profitability for three months to 31 May and attributed the win to its Driving Change agenda, despite sales for the third quarter slipping 10.9% on a reported basis to £858.9m ($1.087bn).
Menswear brand Raymond Ltd was also listed in GlobalData’s so-called ‘top losers’ list with a sentiment score of 0.5 and US footwear brand Foot Locker joined with a 0.41 score.
In May Foot Locker released its first quarter financial results which showed a revenue plunge of 11%.
Foot Locker president and chief executive officer Mary Dillon said at the time that sales had softened given the tough macroeconomic backdrop. As a result the retailer reduced its guidance for the year and planned to take more aggressive markdowns to both drive demand and manage inventory.
Another footwear retailer sits fourth place on the top losers list – Genesco Inc. – had a sentiment score of 0.52.
Finally, the parent company of UK fast fashion retailer Primark, Associated British Foods Plc sits in fifth place with a 0.57 sentiment score.
However, at the end of last month Primark’s future was looking bright with Associated British Foods revising its profit forecast for the 2022/23 fiscal year, citing the positive impact of robust consumer demand for Primark’s summer clothing ranges.