Chanel expects to be riding high again this year after a tough 2020, with sales forecast to rise in double-digits. That’s according to the company’s CFO on Tuesday after it released its pandemic-hit 2020 figures.
The American lifestyle retailer achieved a “record” $927.4 million in total net sales in the first quarter ended April 30, 2021, representing increases of 57.6% from the prior-year period, and 7.3% from two years ago.
The trading environment may have been volatile but luxury giant Richemont still managed to see net profit rising almost 40% in the financial year to the end of March, beating forecasts by a wide margin.
Walmart Inc on Tuesday raised its full-year earnings forecast after shoppers armed with government stimulus checks ventured back into stores, driving demand that is expected to continue through the year.
In a surprise move, one of the UK's most successful fashion retail giants, Next, said it would be buying a minority stake in one of the most respected mid-sized names, Reiss. And it could take a majority stake as well.