For the fifth consecutive financial year, Desigual has recorded a slump in revenue. In 2019, the label generated a turnover of €589 million, but in 2020 sales plummeted and the group’s losses increased to €83 million.
Hugo Boss on Thursday reported an operating profit for Q4 and said it expects a “gradual business recovery” this year. But the company said the negative implications of the pandemic had a “significant impact” last year.
The headline news may have been about John Lewis's pre-tax loss of £517m in the year to January. But more newsworthy was that it said “we do not expect to reopen all our John Lewis shops at the end of lockdown”.
The apparel manufacturer reported net sales of $459.7 million for the fourth quarter ended December 31, 2020, on Wednesday, a year-over-year decrease of 9% that also led the company’s bottom line to slip.
Prada’s sales and profits rebounded at the end of last year from a first-half slump due to the coronavirus pandemic, boosted by a strong performance in China and elsewhere in Asia, a positive trend that has continued.
Ruffini Partecipazioni, the investment vehicle of Moncler CEO Remo Ruffini, said on Wednesday it had completed the accelerated bookbuilding for the placement of a 3.2% stake at a price of 48.80 euros per share.
German sportswear maker Adidas predicted a strong rebound in sales in 2021, particularly in Asia and Latin America, although its operating profit will be trimmed by costs associated with divesting the Reebok brand.
There’s been an enthusiast response to In The Style’s initial public offering (IPO). In fact, demand for buying in to its listing on the Alternative Investment Market (AIM) has been "significantly oversubscribed”.
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.