“Amazon realized early on that if you don’t change the underlying condition that created a problem, you should expect the problem to recur.”
– Colin Bryar and Bill Carr, authors (Working Backwards: Insights, Stories, and Secrets from Inside Amazon)
FINANCE
Uniqlo (Japan) reported Q1 2024 operating profit rose 25%. Revenue rose 13% to ¥810 billion ($5.2 billion), profit increased 26.7% to $1 billion.
Hugo Boss (Germany) reported Q4 sales grew 13% to €1,177 million ($1,283 million). EBIT increased 17% to €121 million ($132 million) on a preliminary basis. Revenues in Asia/Pacific increased by 33%.
Macy’s (USA) plans to cut roughly 2,350 jobs (3.5% of its workforce) and close five stores in an effort to streamline costs and stem slowing sales.
Access Inside Fashion’s January Earnings Report
MARKET INSIGHTS
Average Order Size is Establishing a New Benchmark
The good news is that brands and retailers are ordering again. The not-so-good news (at least for suppliers) is that order sizes are low – and look set to stay that way for a while.
After facing a year of overstock, made worse by a surge in interest rates, it is not surprising that buyers are looking to minimize risk.
That’s left suppliers scrambling to figure out how to cope in an environment where the typical ‘1000 meter MOQ’ is being replaced by requests for orders of half that amount – or less.
PODCAST
Creating Profitable ESG Companies
The pressure to be more sustainable saw companies announcing ambitious goals with target dates that are now frighteningly near!
That’s left more than a few scrambling to revise their strategies and find ways to green up that will make an impact, but are more achievable.
The question is how do we do this?
In this podcast, Christopher Caldwell, a former investment banker and corporate lawyer, and founder of United Renewables, sorts out the overwhelming amount of noise around sustainability and discusses solutions that are practical and actionable.
You’ll Learn:
- The right way for companies to get started or get smarter about sustainability.
- How companies can ethically drive business valuation through ESG initiatives.
- Some of the myths and misunderstandings around implementing sustainable solutions.
EXECUTIVE APPOINTMENTS
Perry Ellis International (USA) has named Michael Miille as the Creative Director. He will spearhead the design and creative vision for the company’s Perry Ellis and Original Penguin by Munsingwear brands. Read more
MARKETS
In the US, the Michigan Consumer Sentiment Index jumped to 78.8 in January, surging 13% from the previous month. After hitting an all-time low in June 2022, sentiment has risen nearly 60% and is now just 7% lower than the historical average, per Investopedia.
Spain’s business sentiment saw a notable uptick, rising by 2% compared to the last quarter of 2023, per Spanish statistical office INE.
The European Sentiment Indicator improved in its latest release, rising 2.4 points in December.
YOU MIGHT HAVE MISSED THESE ARTICLES
- How Primark Continues to Lead the Market
- How Five Below Keeps Customers Coming Back
- Shein and Temu Square Off in Global Markets
- Pakistan: A Vertical Supply Chain Backed By Product R&D
- SE Asian Markets: Growing Fast, Spending More
- Why Consumers are Giving Canada Goose the Cold Shoulder
- Why Fortune Might Be Favoring Mainstream Brands
- Supermarkets Seize the Fashion Market
- Why Mango is Beating Other Fast Fashion Brands
- A New Toolkit for Winning in a Tough Retail Market
