In what has become a familiar scenario in the UK, Jacques Vert will be the latest fashion name set to go under with the womenswear group preparing to call in administrators less than 12 months after it was last rescued.
Times are tough at Denmark’s IC Group with the Tiger of Sweden and By Malene Birger owner reporting weak sales. And while consolidated operating profits are rising, gross profit is down and it faces huge challenges.
XPO Logistics, one of the largest global freight transportation and warehousing companies, reported a rise in quarterly profit on Wednesday, fuelled by strong demand for deliveries of online purchases.
The fashion group said on Thursday it plans to shutter all retail stores in Australia and New Zealand, as the region continues to prove loss-making for the Hong Kong-listed company. Some 350 staff will lose their jobs.
The Australian Olympic Committee has announced that Japanese sportswear corporation Asics will be the Australian team’s official apparel partner for all Olympic competitions up to the Tokyo 2020 Summer Games.