Fashion Industry News Re-Cap – April 2nd, 2018
FASHION INDUSTRY NEWS RE-CAP
for the week ending, April 1st
Stay up-to-date on the fashion industry with StyleDispatch.com and the Fashion Industry News Re-Cap! This week we are covering data-breaches, unsold clothes, disappointing sales, etc…
The Saks Fifth Avenue and Lord & Taylor department-store chains have suffered a security breach that has compromised shoppers’ personal and financial information.
The scale of the problem illustrates H&M’s vast size – as one of the world’s largest clothing manufacturers, it produces hundreds of millions of items each year. There are so many that a power plant in Vasteras, the town where H&M founded its first store, relies partly on burning defective products the retailer cannot sell to create energy.
Manny Chirico, the CEO of PVH Corp-the parent company of Tommy Hilfiger and Calvin Klein-offered a frank assessment of Amazon’s role in fashion on a call with investors about his company’s latest earnings today (March 29). “It’s just not where it needs to be right now,” he said.
Hudson’s Bay Company failed to keep up with its department store peers in the last quarter of 2017, posting disappointing results on Wednesday for the period. “While we are not pleased with our recent operating performance, we took significant action during 2017 to continue to build a solid foundation for future growth,” said Richard Baker, HBC governor and executive chairman, on a conference call with analysts.
Xaume Olleros | Bloomberg | Getty Images Lululemon Athletica reported quarterly earnings and revenue that beat analysts’ expectations on Tuesday, as the athleisure brand reported success on a number of its key initiatives, including its expansion into menswear, online and internationally. The athleisure brand reported net revenue of $929 million, beating expectations of $912 million.
They were the investment banker and retail exec who rose to sit at the top of the fashion world. Now, Carol Lim and Humberto Leon share their experience of building LVMH brand Kenzo into the business darling of the French fashion conglomerate.