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New Look launches sale process as it prepares CVA

14 August 2020 | Beth Wright

UK fashion retailer New Look is seeking a buyer and is preparing to launch another company voluntary agreement (CVA) as it tries to restructure its business.... read more

Top stories this week on just-style...

14 August 2020 | Beth Wright

Top stories this week on just-style include an insight into new patterns of world textiles and apparel trade, and claims that garment workers might have been underpaid by almost US$6bn during the Covid-19 pandemic. Elsewhere, investors are being urged to mitigate risks regarding potential links to China's Xinjiang region, and Cambodia's benefits under the EU's Everything But Arms (EBA) trade scheme have been partially withdrawn.... read more

US Q2 in brief – Dillard’s, Iconix Brand Group, Foot Locker

14 August 2020 | just-style

In the latest second-quarter filings from US apparel and footwear brands and retailers, the impact of the global coronavirus pandemic and widespread store closures can be clearly seen. Iconix Brand Group saw sales slump by more than a third, while Kontoor Brands has reported a net loss of US$33.3m amid a sales fall of 43%. Elsewhere, Wolverine Worldwide has posted second-quarter results that CEO Blake Krueger said were much stronger than expected.... read more

Tapestry turnaround plans speed focus on digital growth

13 August 2020 | Beth Wright

Coach brand owner Tapestry Inc has embarked on a new multi-year turnaround plan to cut costs and focus on digital growth as shoppers continue to shift from stores to e-commerce.... read more

The Very Group upbeat despite fashion sales decline

13 August 2020 | Michelle Russell

Digital pureplay retailer The Very Group, formerly Shop Direct, expects to return to profit in the full-year after reporting strong fourth-quarter revenue growth as customers bought more online.... read more

Stein Mart could close all stores as files for Chapter 11

12 August 2020 | Beth Wright

Stein Mart has filed for Chapter 11 bankruptcy protection in a move that will see it likely to close most – if not all – of its 281 brick-and-mortar stores.... read more

Brooks Brothers seeks approval for US$325m sale bid

12 August 2020 | Beth Wright

Authentic Brands Group (ABG), owner of Aéropostale and Nautica, and Sparc Group have been selected as the winning bidders for bankrupt men's wear retailer Brooks Brothers after increasing their offer to US$325m.... read more

Asos ups FY guidance amid reduced returns rates

12 August 2020 | Beth Wright

Online fashion retailer Asos has raised its full-year sales and profit expectations on the back of stronger than anticipated underlying demand and a sustained reduction in returns rates.... read more

Debenhams to cut 2,500 store and distribution jobs

11 August 2020 | Michelle Russell

Struggling department store group Debenhams has announced plans to cut 2,500 jobs across its store network and distribution centre as part of its latest cost-cutting drive.... read more

Zalando sales surge by 19.6% in H1

11 August 2020 | Beth Wright

German fashion e-tailer Zalando has revealed plans to double down on its platform transition in the second half of the year after sales grew by more than 19% in the first six months.  ... read more

Superdry secures GBP70m in financing as Covid impact weighs

10 August 2020 | Hannah Abdulla

UK fashion retailer Superdry has secured GBP70m (US$91m) in financing as it continues to reel from the impact of coronavirus on its sales.... read more

Top stories on just-style in July...

10 August 2020 | Beth Wright

Top stories on just-style in July included an interview with Ranjan Mahtani, chairman and CEO at Epic Group, on why Covid-19 is the final straw for apparel industry players, and a look at how technology is key to the sector's emergence from the crisis. The list also includes a look at why manufacturers in India think coronavirus could be a force for good, and the latest bankruptcy filings from firms including Brooks Brothers and Ascena Retail Group.... read more

EU's Myanmar garment support fund pays out MMK4bn

7 August 2020 | Beth Wright

Myanmar's garment workers have now received more than MMK4bn (US$2.9bn) in payments through the EU funded Myan Ku 'Quick Assistance Fund'.... read more

JCPenney lenders ask bidders to up offers?

7 August 2020 | Hannah Abdulla

A group of lenders managing the bankruptcy process of US retail giant JCPenney are reportedly asking interested buyers to up their bids after offers made in July were deemed too low.... read more

Top stories this week on just-style...

7 August 2020 | Beth Wright

Top stories this week on just-style include an interview with Senol Sankaya, CEO of Yesim Tekstil, on how the company adapted to Covid-19 and why it is optimistic going forward. US textiles and apparel sales could shrink by more than 50% this year due to the pandemic, which is the biggest concern facing today's US fashion industry executives, and digital mapping technology has tracked garment factory closures in Bangladesh since the outbreak of coronavirus.... read more

Adidas moves to Q2 loss as sales slide by more than a third

6 August 2020 | Beth Wright

German sportswear group Adidas has reported a loss for the second quarter as net sales tumbled by more than a third amid temporary store closures related to the Covid-19 pandemic.... read more

US apparel sector boosts manufacturing economy in July

6 August 2020 | Michelle Russell

Economic activity in the US manufacturing sector grew in July, with the apparel sector reporting growth in employment and imports, new figures show.... read more

Joules moves to FY loss on stock and pandemic issues

6 August 2020 | Michelle Russell

British clothing retailer Joules has booked a drop in full-year sales and moved to a loss as the pandemic and e-commerce stock availability issues over the Christmas trading period weighed on results.... read more

Price pressures weigh on Lenzing H1 revenues

6 August 2020 | Michelle Russell

Austrian cellulosic fibre producer Lenzing has seen increased price pressure on textile fibres across its range as a result of the pandemic which weighed on sales and earnings in its first-half.... read more

RTW Retailwinds to offload online business for US$20m

5 August 2020 | Beth Wright

RTW Retailwinds Inc is to sell its e-commerce business and all related intellectual property to Sunrise Brands, LLC for a cash purchase price of US$20m.... read more

1,000 jobs to go as Designer Brands reorganises

5 August 2020 | Hannah Abdulla

Designer Brands Inc, formerly known as DSW, has confirmed it is cutting 1,000 positions including 380 at its corporate offices.... read more

Ralph Lauren Q1 sales down by almost two-thirds

5 August 2020 | Beth Wright

Ralph Lauren Corporation has seen sales tumble by almost two-thirds in the first quarter as the Covid-19 pandemic forced the majority of its stores to close for up to ten weeks in key markets.... read more

Delta Apparel posts 40% drop in Q3 sales

5 August 2020 | Beth Wright

Activewear and lifestyle apparel maker Delta Apparel has reported a near-40% drop in net sales for the three months to the end of June but CEO Robert Humphreys says the business is likely to return to profitability in the fourth quarter.... read more

Hugo Boss Q2 sales knocked by Covid store closures

4 August 2020 | Beth Wright

Temporary store closures as a result of the global Covid-19 pandemic weighed on German luxury fashion brand Hugo Boss in the second quarter where group sales more than halved on last year.... read more

Timeline – How coronavirus is impacting the global apparel industry – FREE TO READ

4 August 2020 | just-style

Since the coronavirus (Covid-19) outbreak began in China at the end of 2019, its impact has been felt across the global apparel and textile sector. just-style's timeline shows how the pandemic is evolving – and will be updated as developments unfold.... read more

Le Tote, Lord & Taylor file for Chapter 11

3 August 2020 | Michelle Russell

Fashion rental subscription service Le Tote has filed for Chapter 11 bankruptcy protection alongside Lord & Taylor, the department store chain it bought just last year.... read more

Tailored Brands files for Chapter 11 bankruptcy protection

3 August 2020 | Beth Wright

US menswear retailer Tailored Brands, owner of the Men's Wearhouse, Jos. A. Bank, Moores Clothing for Men and K&G, has filed for Chapter 11 bankruptcy protection. ... read more

Chico's Canada adds to raft of bankruptcy filings

3 August 2020 | Michelle Russell

The Canadian arm of fashion retailer Chico’s FAS has filed for bankruptcy, resulting in the closure of ten stores.... read more

Li & Fung secures US$100m investment from JD.com

31 July 2020 | Leonie Barrie

Hong Kong based sourcing giant Li & Fung has secured a US$100m investment from Chinese e-commerce leader JD.com to speed the development of its digital supply chain as well as new private label initiatives for the Chinese domestic market. ... read more

Deckers narrows Q1 net loss as sales edge up

31 July 2020 | Beth Wright

Ugg brand owner Deckers Brands has reported a rise in sales and narrowed its net loss for the first quarter but warned of possible supply chain disruptions in the future.... read more

Gildan Activewear second-quarter sales slump 71%

31 July 2020 | Michelle Russell

Canadian apparel maker Gildan Activewear has moved to a loss in its second-quarter weighed down by lower sales volumes during the Covid-19 pandemic.... read more

US Q1 in brief – VF Corp, J.Jill, Francesca's

31 July 2020 | just-style

In the latest first-quarter filings from US apparel and footwear brands and retailers, the impact of the global coronavirus pandemic and widespread store closures can be clearly seen. VF Corp has reported a net loss of US$285.6m, while Francesca's has seen a 50% drop in net sales. Elsewhere, Macy's, Inc said its net loss totalled $3.58bn and PVH Corp has posted an "unprecedented" decline in revenue and earnings.... read more

Top stories this week on just-style...

31 July 2020 | Beth Wright

Top stories this week on just-style include a look at the latest developments in antimicrobial, virus and bacteria killing fibres and fabrics, and why the fashion industry must tackle greenhouse gas emissions in global supply chains. Elsewhere, consumers are becoming increasingly wary of greenwashing, Nike backtracks on plans to invest in a footwear-making facility in Arizona, and VF Corp is to open its first multi-brand store.... read more

L Brands to slash corporate workforce by 15%

29 July 2020 | Beth Wright

L Brands is the latest retailer to outline workforce reductions as the industry has been left reeling from the Covid-19 pandemic, with the Victoria's Secret-owner planning to cut its home office headcount by about 850 associates.... read more

Next bouncing back after feeling full force of the pandemic

29 July 2020 | Michelle Russell

UK clothing and homewares retailer Next Plc has seen its sales stage a partial recovery in the second quarter after they were dealt a big blow during the coronavirus lockdown. Investment in online capabilities, warehouse capacity and a strong balance sheet have all helped, and the company is now confident of booking a full-year profit. Industry experts offer their views on today's (29 July) results.... read more