As the Texas-based department store retailer continues on its path out of bankruptcy, it has received court approval for a restructuring plan involving the creation of separate property holding companies.
On Monday, the luxury giant set a new Paris Stock Exchange record by topping a market capitalisation of €250 billion for the first time, its share price having surged by nearly 20% since the start of the year.
The Fort Myers, Florida-based fashion retailer announced a year-over-year decline of 27.5% in its third-quarter revenues on Tuesday, as the Covid-19 pandemic continues to negatively affect the company’s in-store sales.
Faced with consumers who are increasingly demanding in terms of brand values, luxury labels are undergoing a sea change, extending their vision beyond products. Gucci more than others, through its unique initiatives.
Abercrombie & Fitch is to close a selection of major flagship stores, including London, Paris and Munich, it announced with its latest set of results on Tuesday. The stores have been a major drag on its performance.
MeUndies will use the funds to expand its capabilities in product design, production and distribution, build its e-customer community, and expand omnichannel operations to new international markets and store locations.