The New York-based brand management group published its results for the first quarter of 2018 on Friday, reporting net income of $32.7 million, up from $4.4 million in the prior year period, despite revenue slipping 17%.
The Italian beauty retailer plans to invest €90 million to fuel growth in the next 3 years, and is in advanced talks with an investment fund interested in buying a stake. It will also close its US subsidiary.
Alibaba Group Holding Ltd reported better than expected top line results on Friday, driven by strong sales in its commerce and cloud computing units, even as margins were squeezed by flurry of investments.
Indian e-commerce firm Flipkart's board is yet to finalise a deal to sell a stake to Walmart Inc, two sources with direct knowledge of the matter said on Friday, adding that a deal could just be days away.
Flipkart has bought back $350 million worth of shares from its investors as it seeks to convert its Singapore-incorporated company to a private limited firm, in a move that could make a way for a new strategic investor.
Brazil’s largest apparel retailer will maintain its aggressive growth plans this year and strategy of developing both its online and physical footprint, an executive said after the company posted an unexpected quarter.
In what has become a familiar scenario in the UK, Jacques Vert will be the latest fashion name set to go under with the womenswear group preparing to call in administrators less than 12 months after it was last rescued.