The owner of brands including Umbro and Lee Cooper announced Q1 revenue of $23.6 million on Thursday, representing a 15% year-over-year decline, largely due to a 41% decrease in the company’s women’s segment.
Global Fashion Group saw a strong Q1 as it attracted more customers to its websites and enjoyed a solid recovery in repeat customers. It also attracted more brands and marketplace net merchandise value almost doubled.
E-tail giant Zalando swung to a profit in Q1 and is expecting general merchandise value growth of up to 36% this financial year after a stellar start to 2021 in which GMV grew as much as 55.6% to €3.2 billion.
Online sales accounted for nearly a fifth of total retail turnover last year as lockdowns to combat the spread of the coronavirus pandemic fuelled a boom in e-commerce, a United Nations study released on Monday showed.
The owner of Lee and Wrangler announced on Tuesday that it has expanded its collaboration with industrial hemp producer Panda Biotech in order to accelerate the commercialization of U.S.-grown and processed hemp.