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Helmersson - 1 Helena Helmersson - 1 Inditex - 1 Cedric Rossi - 1 Bryan Garnier - 1 Rossi - 1
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☆ H&M shares jump 11% as summer collection boosts profit
  + stars: | 2023-06-29 | by ( ) www.cnbc.com   time to read: +3 min
Sales from June 1-27 were up 10% from a year earlier, a good sign for the start of H&M's third quarter. The womenswear collection drove the boost in sales, Helmersson told a news conference. Shares in the world's second-biggest fashion retailer jumped 11% to hit their highest level since February 2022. The stronger-than-expected profit and inventory position helped investors digest a weaker margin of 8.2% for the second quarter, down from 9.2% a year earlier. H&M last year announced layoffs and other cost cuts that it said would help it reduce costs from the second half of 2023 onwards.
Persons: Helmersson, Helena Helmersson, Inditex, Cedric Rossi, Bryan Garnier, Rossi Organizations: Oxford Locations: London, Europe, Zara, Paris, Swedish
☆ As sales decline, Adidas faces pressure to find Yeezy fix
  + stars: | 2023-05-04 | by ( Helen Reid | ) www.reuters.com   time to read: +3 min
Gulden in March said the company could donate the proceeds of the Yeezy sale to charities, but Adidas has given no updates since. The Anti-Defamation League, an international Jewish non-governmental organisation based in New York, told Reuters it "stands ready and prepared to work with Adidas". The American Jewish Committee met with Adidas executives in December to discuss their commitment to reject antisemitism. Shareholders want Adidas to draw a line under the Yeezy episode and develop ways to reboot the brand. "Being successful with Yeezy probably made Adidas lazy on finding other growth drivers," said Cedric Rossi, nextgen consumer analyst at Bryan Garnier in Paris.
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