Fast-fashion retailer Shein found two cases of child labour at its suppliers last year, the same number as in 2023, following more audits of its mostly China-based third-party manufacturers, the company told British lawmakers in a letter.
Reuters
The disclosure by Shein, which is planning an initial public offering in London, was in a February 7 response to questions from a British parliamentary committee. It was written by Yinan Zhu, Shein’s general counsel for Europe, Middle East and Africa, and published late Tuesday.
Shein has faced allegations of worker abuses in its supply chain, and the cross-party Business and Trade Committee questioned Zhu in person in January, following up with letters asking for additional information.
In the letter, Zhu said one of the incidents involved a child aged 11 years and 8 months, whom the audit found spent time during the summer holiday at a factory where her father was the general manager and her mother worked, and “helped with tasks”.
“Nonetheless, and irrespective of these details, we took the issue extremely seriously, including designating the incident as child labour and immediately terminating our relationship with the supplier,” Zhu said in the letter.
The second case was 15 years and 3 months. Zhu also gave the ages of the children Shein previously said it found working at suppliers in 2023 as 15 years and 11 months, and 15 years and 9 months.
Shein conducted around 4,300 audits in 2024, covering about 317,000 workers, up from 4,000 audits in 2023 covering 285,000 workers, according to the letter.
“We take a strict zero tolerance approach to child labour,” Zhu wrote. “We will continue to work tirelessly to ensure that these isolated cases are removed from our supply chain entirely in future, bringing our network of third-party suppliers globally, including in China, Brazil and Turkey, along with us.”
Off-price retailer TJX Cos on Wednesday forecast annual comparable sales growth and profit below Wall Street estimates amid concerns of muted consumer spending, even as it beat expectations for the crucial holiday quarter.
TK Maxx
TJX’s tepid forecast follows cautious annual projections from retailers, including behemoth Walmart and home improvement chains Home Depot and Lowe’s.
“Per usual, (TJX) followed up the (quarterly) beat with what we expect will be conservative guidance,” said BMO Capital Market analyst Simeon Siegel.
“We continue to believe TJX wins because they are becoming an increasingly important value option for consumers.”
U.S. customer spending has taken a hit from high interest rates and persistent inflation for two years. The uncertainties in the economy are exacerbated by President Donald Trump‘s new tariff on Chinese goods and proposed levies on some other countries.
However, executives at TJX — which sources its products globally, particularly from China, India and southeastern Asia — said direct imports from China are an “extremely small percentage” of its business, with a possibility for higher costs only in the short or medium term.
“Fiscal 2026 guidance assumes a small negative impact on the first half of the year from the current China tariffs on merchandise that we were committed to,” Chief Financial Officer John Klinger said on a post-earnings call.
Shares of the TJ Maxx parent were up nearly 4%, after it also announced a plan to repurchase shares worth $2 billion to $2.5 billion during fiscal 2026.
TJX expects comparable store sales to grow between 2% and 3% during fiscal 2026, compared with analysts’ average estimate of a 3.4% rise, according to data compiled by LSEG.
It forecast annual earnings per share of $4.34 to $4.43, compared with the estimate of $4.59.
Net sales of $16.35 billion for the quarter ended February 1 beat the estimate of $16.20 billion.
Its per-share profit of $1.23 was also above analysts’ expectation of $1.16.
Fendi feted its century of existence in style Wednesday with a great and often beguiling collection designed by Silvia Fendi, a granddaughter of the brand’s founders.
Though launched and still based in Rome, the show was staged in Milan, in Fendi’s north Italian headquarters with considerable style.
Sarah Jessica Parker, Hailee Steinfeld, Ashley Park and Philippine Leroy-Beaulieu sat front row, joining Sean Paul who later performed a set inside the soaring south Milan space. Redone in thick pile banquettes to host this collection, which smartly riffed on some Fendi classics even as it broke new ground.
Founded in 1925 by Adele and Edoardo Fendi as a fur and leather shop, which quickly became a destination for sophisticated shoppers. All the way to the post-war Dolce Vita era when international movie stars shooting in Rome’s Cinecittà film studios began discovering the brand.
A second generation of Fendi five sisters, each with 20%, owned and skillfully developed the brand, hiring Karl Lagerfeld to guide its fashion creation in 1965.
Fendi is most celebrated for its remarkable exotic fur, though Silvia turned a new page with a series of great shearling coats and stoles made to look like fox, mink and sable, but were not.
The cast appearing out of a towering double door – made to resemble the entrance to the brand’s historic boutique and salon on Via Borgognona. The first look, a flawless flared coat worn as a dress – with funnel collar and waist cinched with a gold belt. Silvia also showed some marvelous tubular leather coats and beautiful double face cashmere redingotes.
Worn by a cast of young hopefuls and famed veterans: Eva Herzigova in an accordion pleat silk cocktail; Edie Campbell in a strass-encrusted tweed cocoon coat; or Natasha Poly in a dazzling metallic skirt and cashmere cardigan. Before Silvia sent the atelier into overdrive with chevron and zig zag mink coats that reeked rich.
Today, Fendi is part of the luxury empire of LVMH, though its creation is still family driven by the third generation Silvia.
“I didn’t want to spend too much time dwelling on the physical archives. For me, Fendi 100 is more about my personal memories – real or imagined – of what Fendi was and what Fendi means today,” explained Silvia.
While the fourth generation Delfina Delettrez Fendi dreamed up the jewelry for this show – fur-like textures, from snake chain collars to chandelier ‘fountain’ earrings. With sterling silver obelisk pendants and FF ball chain necklaces for men in a co-ed show. Delfina’s two seven-year-old twins Dardo and Tarzio even kicked off the action by opening the huge doors, a fifth generation playing a charming role.
The pair dressed in replicas of an equestrian look originally designed by Karl. Talk about blending the past with the present.
There is no more fertile fashion imagination in Milanese fashion than Francesco Risso, whose latest collection for Marni was the fruit of an intense artistic collaboration with Olaolu Slawn and Soldier Boyfriend.
Marni fall/winter 2025 collection in Milan – Courtesy
A collaboration that began with all three of them “locked together in a studio in London for a month,” in Risso’s words, and ended with their paintings displayed on the show-space walls and printed onto many outfits. Large images of wolves, fox tails, dark birds, flying pigs; the fruit of a residency he dubbed “The Pink Sun”.
All presented inside a surreal mock jazz club, where every item of furniture was draped into hand-painted black and white tablecloths or chair covers. Though this fall 2025 collection, on the other hand, was an explosion of color.
“For me, this collection is the Marni Preservation Hall,” added Risso. Pre-show, waiters served Martini vermouth spritzes, as guests admired the art.
Marni fall/winter 2025 collection in Milan – Courtesy
Showing composite cool fashion: Crombie coats that become cocoons, tube skirts that had plenty of kick, and shirt dresses morphed into gowns. “Deconstructed or reconstructed, where I wanted to show my love of Marni. And where every piece was ‘a seed vault’,” explained the ever-philosophical Francesco.
Pragmatism mixed with practicality, he claimed where embroidered flowers bloomed from satin dresses, and gowns had fantastical biomorphic shapes.
Risso even indulged in several cool inside witticisms, like using his close friend and fellow designer Laurence Steele as a model, in an Edwardian top coat trimmed with fox tails. Or attiring his pal Aymeline Valade in a Victorian falling-off-the-shoulders red satin gown, finished with black wool shoulders, from which drooped fabric flowers. Its back finished with the same print of a pumpkin head seen as the show backdrop.
Slawn and Soldier are Nigerian artists living in London, whom Francesco met in a random encounter. “Slawn an instinctive artist. Soldier is a Renaissance style creator. I sculpt with color,” expounded the very thrilled Risso, who later Wednesday night hosted an opening in his Milan home of their art.