Nordstrom announces the expansion of its pickup option to make shopping more convenient for its customers. With this the company will now be offering order pickup at Nordstrom Rack stores along with the curbside pickup at Nordstrom locations.Image Courtesy: www.sandiegouniontribune.comThe customers shopping on the company’s brands–Nordstrom, Nordstrom Rack and HauteLook–will now be able to opt for store pickup at Nordstrom Rack locations.The service will start later this month.“Our Nordstrom Rac

Fast Retailing, a Japanese manufacturer and retailer company, posted 12.3 per cent decline in its revenue to ¥2,008.8 billion (Japanese Yen) during the fiscal 2020 that ended on August 31, 2020 compared to the revenue of ¥22,90.5 billion in previous year. Business profit for the year dropped 35.9 per cent to ¥170.0 billion (FY19: ¥265.0 billion).Pic: ShutterstockGross profit for the year fell 12.8 per cent to ¥975.8 billion (¥1,119.5 billion). Selling, general and administrative expenses were do

British e-commerce fashion retailer Asos has recorded a pre-tax profit of £142.1 million for the year that ended 31 August 2020.Image Courtesy: internetretailing.netThat’s an extraordinary jump of 329 per cent on last year’s £33.1 million.The retailer has attributed the terrific growth in profits to the huge demand for casualwear and sportswear in last 6 months – expectedly so with ‘work from home’ now being the new normal across the globe.The sales too grew by 19 per cent to clock £3.3 billion.

The same-store apparel sales in 10,806 stores of 56 firms associated with Japan Chain Stores Association (JCSA) have gone down in July ’20 and August ’20 both on M-o-M basis and Y-o-Y basis.After rising 40.11 per cent in June ’20 over May ’20, the apparel sales dropped by 17.75 per cent in July ’20 from June ’20 and by 13.40 per cent as compared to July ’19 to clock just 65,275 million yen revenue.The drop continued even in August ’20 as revenues further plunged by 12.88 per cent as compared to

Stoll, leader in flat knitting technology, unveils its latest trend collection FASTER: From (CONCEPT) – To (STORE), which is driven by the motto of its Fashion & Technology department ‘Design to Inspire’.Image Courtesy: textilevaluechain.inThe knitting tech supplier motivates the fashion industry to copy details and integrate them to their design work, focusing on style groups and price points.The company mentions that though the industry works on protecting themselves from being copied, Sto

All We Wear Group (AWWG), originally known as Pepe Jeans, has announced the closure of 50 stores worldwide as well as some international offices as part of its ‘Re:set’ transformation strategy.Image Courtesy: stores.pepejeans.comNotably, “AWWG Group had launched the ‘Re:set’ transformation plan in January.This programme has now been accelerated and adapted due to COVID-19 to address the company’s new needs,” read a statement released by AWWG.As part of the transformation plan, the retailer will

H&M is at an up-to-date stage for potential development as it has earned better than expected positive reviews on new collections. Combined with high-cost management, Full Price revenue allowed the business to turn a profit before tax to SEK 2 billion in the third quarter.In the third quarter, H&M decreased its revenue to 16%. The brand’s profits fell to SEK50.870 billion in Swedish currency by 19%. At the height of the pandemic, the company closed about 900 of its 5,000 stores. While se

Dick's Sporting Goods, a US-based full-line omni-channel sporting goods retailer, posted 20 per cent sales growth to $2.71 billion in its second quarter (Q2) FY20 ended on August 1, 2020, compared to the sales of $2.25 billion in the same period previous fiscal. Company’s net income for the quarter jumped to $276.84 million (Q2 FY19: $112.53 million).Pic: Shutterstock“We had an exceptionally strong Q2 in which we delivered our highest ever quarterly sales and earnings,” Edward Stack, chairma

The global export of clothing accessories declined 5.89 per cent from $21,188.61 million in the year 2017 to $19,941.08 million in 2019. Total exports declined 10.07 per cent in 2019 over the previous year, according to data from TexPro. Further, the trade is expected to move up to $21,731.69 million in 2022 with a rate of 8.98 per cent from 2019.Pic: ShutterstockThe global import value of clothing accessories was $14,199.99 million in 2017, which dropped marginally 1.29 per cent to $14,382.55 m

The H&M Group, a Swedish multinational clothing-retail company, has reported 16 per cent sales decline to SEK 50,870 million (Swedish krona) in its third quarter (Q3) fiscal 2020 ended on August 31, compared to the sales of SEK 62,572 million in the same period previous year. Profit for the period fell to SEK 1,821 million (Q3 FY19: SEK 3,859 million).Pic: Shutterstock“Through much-appreciated collections and rapid, decisive actions, we returned to profit already in the third quarter. Our em