Italian fashion house Valentino aims to sell around a quarter of the company in an initial public offering (IPO) which will not take place before the second half of 2018, a source close to the matter said.
UK fashion e-tailer Missguided saw a sales surge in its latest year but that didn’t help profits and the firm, which recently moved into physical stores, swung to a pre-tax loss on investment spending.
“Lower sales as competition toughens”. That was the headline statement in Nordics fashion retailer KappAhl’s latest sales and earnings report and it underlined how tough Northern Europe’s fashion market is at present.
US styling service Stitch Fix reported stronger-than-expected quarterly earnings on Tuesday, despite a 71% decline on last year. It was the first financial report since its $120 million IPO launch at the end of November.
Steinhoff said on Tuesday it had started to lose credit lines from lenders and was still unable to determine the scale of accounting irregularities which have wiped more than $10 billion off its market value.
Victoria Beckham’s brand may have lost over £8m last year but the firm is upbeat and said in accounts filed this week that it “continued to perform well in all its markets, despite a difficult trading environment”.
John Lewis struggled to find sales growth in the latest week as the hugely successful retailer showed that even the biggest names aren’t immune to the cautious spending environment in the UK at present.
Koovs reported a better set of results for the first half as it sold more full-price product and boosted brand awareness. But profits remain elusive and the company must close a funding round to generate marketing cash.