Retail

Bloomberg Hugo Boss reported a plunge in first-quarter earnings amid a weak US market, a stumble as the German clothing retailer aims for growth this year. Operating profit fell 22 percent on higher costs related to marketing, online operations and reorganisation. Still, the company maintained its forecast for growth at a high-single-digit percentage rate for the full year. The shares …

Bloomberg Apparel giant Gildan Activewear Inc is building a new manufacturing hub in Bangladesh, aiming to supply both Europe and a Chinese market that it described as “on fire.” The Montreal-based manufacturer of T-shirts and innerwear spent $45 million to buy land in the South Asian country, where it’s been since 2010 and currently employs 3,500 people. Gildan expects the …

Bloomberg Neiman Marcus Group Inc is working with Lazard Ltd on the sale of luxury apparel platform MyTheresa, which may fetch more than 500 million euros ($560 million), people familiar with the matter said. Neiman said that it was evaluating options for MyTheresa, which has been at the centre of a dispute with creditors since the unit was effectively transferred …

Bloomberg One of the last vestiges of traditional shopping habits is being laid to rest. Swedish fashion giant Hennes & Mauritz AB said it ceased publication of its print catalogue after 39 years with immediate effect. The move follows dwindling interest from customers in flipping through glossy pages of inventory when they can find the latest deals with their mobile …

Bloomberg Under Armour delivered first-quarter earnings that topped analysts’ estimates, another indication that its three-year transformation is getting the athletic brand back on track. Earnings amounted to 5 cents a share, Under Armour said, compared with estimates of break-even. Sales were $1.2 billion, just a slight gain from a year earlier, but above the projected $1.18 billion. Shares jumped in …

Bloomberg Tyson Foods Inc will expand a voluntary recall of frozen, ready-to-eat chicken strips after more consumers reported fragments of metal in “a small number of products,” the company said in statement. It originally issued a recall of 69,093 pounds of strip products in March and now the expansion includes an additional 11.8 million pounds, the US Department of Agriculture …

Bloomberg Watches of Switzerland Group, the UK’s biggest seller of luxury timepieces, said it’s considering an initial public offering in London that could help fuel expansion into the US market. The move would allow private-equity company Apollo Global Management to reduce its stake in the retailer, which handles about half of Rolex’s UK sales. It also could give impetus to …

Bloomberg J Sainsbury Plc got some breathing space from better-than-expected profit after the collapse of a 7.3 billion-pound ($9.5 billion) deal to acquire Walmart Inc’s Asda. The grocer’s shares rose as much as 6.4 percent as the company laid out its Plan B for fighting the UK’s supermarket wars alone. Sainsbury said it will invest in improving its stores, where …

Dubai / Emirates Business Italy’s leading apparel fashion brand is set to release its Spring/Summer 2019 collection for men, women as well as kids across its stores in the UAE. For women, making a big comeback this summer from OVS are suits with oversized jackets, the new trench in both traditional beige gabardine and in bright check prints. When it …

Bloomberg Amid all the precariousness of Brexit and talk of the death of the high street, a humble clothing seller counters the pessimism as one of the UK’s best-performing blue chips of 2019. Next Plc shares are up 44 percent year-to-date, the second-biggest gainer on the benchmark FTSE 100 index. The stock held onto those gains as the company said …