British consumer price inflation jumped to 10.1% in July, its highest since February 1982, up from an annual rate of 9.4% in June, intensifying the squeeze on households, official figures showed on Wednesday.
Walmart nudged up its annual profit forecast on August 16, partly reversing a hefty recent cut, as discounts to clear excess merchandise and lower fuel prices helped it beat expectations for quarterly sales.
Wolverine Worldwide posted revenue of $713.6 million in the second quarter for growth of 12.9 per cent versus the prior year. Excluding Sweaty Betty, revenue was $666.2 million, a record for the period.
The UK has launched the Developing Countries Trading Scheme to extend tariff cuts to hundreds of more products exported from developing countries, going further than the EU's Generalised Scheme of Preferences.
Swedish fashion giant H&M's official store on Alibaba's Tmall e-commerce platform has re-opened, 16 months after the Chinese site took it down following the brand's criticisms of human rights abuses in Xinjiang.
Ted Baker and Authentic Brands Group announced on August 16 that ABG will be buying the British fashion retailer for an agreed price of around £211m ($254m). It will mean a major push into North America for the label.
Frasers Group may have brought Missguided founder Nitin pass back to run that business after it acquired it out of administration, but it’s not gone for continuity with another buy, that of I Saw It First.
Ranra has walked away with the fourth Zalando Sustainability Award during Copenhagen Fashion Week. Its genderless collection “focused on longevity and used exciting techniques with textiles and dyes”.
Lifestyle retailer Joules said it has found a new CEO to replace Nick Jones. Jonathon Brown will join on 7 September 2022 and will take over fully at the end of next month “following a short handover period”.
Activist hedge fund Starboard Value, which had offered to buy Kohl's Corp for roughly $9bn early this year, slashed its stake in the department store by more than 80% in Q2, according to a regulatory filing.
Net sales of US-based HanesBrands from continuing operations were $1.51bn, a decline of 14% in the second quarter of fiscal 2022. This was caused by was driven by a ransomware attack and softer-than-expected POS trends.