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Abercrombie & Fitch to open on Oxford Street and in Covent Garden

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January 10, 2025

This month will see Abercrombie & Fitch opening new stores in two of central London’s key shopping districts. The new spaces are located on the city’s busiest shopping thoroughfare, Oxford Street (at number 325), and in the lively tourist magnet Covent Garden, at 132 Long Acre. 

The stores will open their doors on 31 January and “will showcase updated, engaging spaces, integrated with omnichannel shopping capabilities, connecting both digital and in-person shopping for an enhanced customer experience,” we’re told. 

And borrowing a feature from the luxury end of the market, the Oxford Street location will also have a bookable, private mezzanine lounge with a personal fitting room, seating area and more. 

The company said that for an “even more personalised touch, the stores will feature bespoke, local artwork, representative of the city of London”.

Product-wise, the spaces will offer key product categories including styles from the Best Dressed collection with dresses, shirting and tailoring such as the Collins suit collection. And the company said “an introduction to” Abercrombie’s athleisure brand, Your Personal Best (YPB), will also be available for purchase.

“Establishing an elevated presence at these iconic shopping destinations is a great way to engage with our customer as we continue to grow Abercrombie in London,” said the retailer’s EMEA MD Scott Clarke-Bryan. “With these stores being pinnacle experiences in such famous shopping areas, we’re looking forward to showcasing our latest product offering and connecting with both new and existing customers in 2025.”

The Oxford Street stores is particularly important given that it comes as the street is recovering from the bruising aftermath of the pandemic that saw its footfall plummeting and numerous major brands vacating spaces. 

Before its redevelopment, this particular space — which is also on the corner of New Bond Street — was home to Next. The store in its previous incarnation was quite dark, but the new store looks likely to be much lighter. And Next itself is now housed in a larger and much brighter flagship further up Oxford Street.

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Fashion

Hoka-parent Deckers Outdoor’s forecast disappoints despite solid holiday quarter

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January 31, 2025

Deckers Outdoor on Thursday beat third-quarter sales estimates on robust holiday demand for its Hoka running shoes, but an in-line annual forecast caused the footwear maker’s shares to tumble 17% in extended trading.

Ugg

Hoka shoes with their oversized soles have been gaining market share from brands such as Nike in the sportswear category. The brand, which retails for up to $300 in the United States, have also enjoyed full-price sales.

This drove up the company’s third-quarter revenue by 17% to $1.83 billion, beating analysts’ average estimate of $1.73 billion, according to data compiled by LSEG. Deckers also raised its annual net sales forecast for a second time this year.

“The guidance looks pretty conservative and considering the beat, it’s bit of a negative read into the out quarter,” said Drake MacFarlane, analyst at MScience.

The popularity of the Hoka shoes and the success of the company’s Ugg boots and sandals has helped it post double-digit revenue growth for nearly seven quarters.

The company now expects annual net sales to increase about 15% to $4.9 billion, compared with its prior expectation of about 12% growth to $4.8 billion. Analysts estimated an increase of 14.9% to $4.93 billion.

Deckers expects annual earnings per share of $5.75 to $5.80, compared with its prior forecast of $5.15 to $5.25.

© Thomson Reuters 2025 All rights reserved.



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Amazon ramps up ad spending on Elon Musk’s X, WSJ reports

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January 31, 2025

Amazon.com is increasing its advertising on billionaire Elon Musk’s social media platform X, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

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The major shift comes after the e-commerce giant withdrew much of its advertising from the platform more than a year ago due to concerns over hate speech.

In 2023, Apple also pulled all of its advertising from X and has recently been in discussions about testing ads on the platform, the report said.

Several ad agencies, tech and media companies had also suspended advertising on X following Musk’s endorsement of an antisemitic post that falsely accused members of the Jewish community of inciting hatred against white people.

Monthly U.S. ad revenue at social media platform X has declined by at least 55% year-over-year each month since Musk bought the company, formerly known as Twitter, in October 2022. He had acknowledged that an extended boycott by advertisers could bankrupt X.

Musk has become one of the most influential figures following President Donald Trump‘s re-election. He now leads the Department of Government Efficiency, which aims to cut $2 trillion in government spending.

© Thomson Reuters 2025 All rights reserved.



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Ferragamo’s sales down 4% in fourth quarter, sees “encouraging results”

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January 31, 2025

Italian luxury goods group Salvatore Ferragamo said on Thursday its revenue dropped by 4% at constant currencies in the fourth quarter, flagging “encouraging results” from its direct-to-consumer sales which were overall flat in the last three months of the year.

Ferragamo – Spring-Summer2025 – Womenswear – Italie – Milan – ©Launchmetrics/spotlight

Sales in the North American region, which accounted for 29% of total revenue, were up 6.3% in the quarter.
However, the Asia Pacific area saw a 25% drop in revenue at constant exchange rates.

The slowdown in global demand for luxury goods, especially in China, has made the group’s turnaround harder.
Overall preliminary revenues reached 1.03 billion euros in 2024, in line with analysts’ estimates, according to an LSEG consensus.

“January shows an acceleration in our DTC channel’s growth, albeit supported by the different timing of the Chinese New Year and a favourable comparison base versus last year”, Chief Executive Marco Gobbetti said in a statement.
 

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