So-called "ultra-fast fashion" has won legions of young trend-setting fans who snap up relatively cheap clothes online amid surging inflation, but the booming genre masks darker environmental problems.
While millions are fretting whether they can afford another $1,000 on energy this year, others are still splashing out on $10,000 Hermes handbags as soaring prices leave wealthier people relatively unscathed.
The Italian fashion group, owner of Alberta Ferretti, Moschino and Pollini, closed H1 2022 with a gross operating margin (EBITDA) of €20.9 million and a net profit of €2.9 million, down from €13.3 million in 2021.
VF Corporation announced on Thursday revenues for the first quarter increased by 3%, on the back of double-digit growth its The North Face brand, offsetting a dip in its Vans business and plunging APAC sales.
Amazon.com Inc beat Wall Street estimates for quarterly sales on Thursday, as it raked in more fees from its Prime loyalty subscribers as well as from merchants using it services to sell and ship goods.