Canada Goose Beats Estimates on China Strength; Shares Surge
The Toronto-based company reported revenue of C$358 million ($263 million) for the fiscal fourth quarter.
Chinese fashion and beauty customers — long pivotal for the global luxury market — are reshaping how and where they shop, according to BoF Insights’ new report.
Fast fashion giant Shein will strengthen its presence in Europe and Mexico, including selling more locally made products, in a bid to diversify its China-centric supply chain.
Western brands shifting supply chains away from China hope to reduce disruptions caused by geopolitical tensions but ‘friendlier’ sourcing hubs aren’t always feasible.
This week, US lawmakers ratcheted up pressure on some of the industry’s biggest names as the relationship with Beijing and Washington continues to deteriorate.
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The country is reporting its highest caseloads since the start of the pandemic, and whole regions are locked down, sending shudders through a still fragile global supply chain.
Further volatility in the property sector could dampen consumer appetite for fashion and luxury goods in some quarters, but it is unclear how big the impact might be.
Blackouts and power shortages at Chinese factories are adding to the growing list of supply chain challenges facing the global fashion industry.
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The Toronto-based company reported revenue of C$358 million ($263 million) for the fiscal fourth quarter.
The likelihood of a successful Burberry turnaround is limited in the near term, UBS Group AG analyst Zuzanna Pusz wrote in note.
The collaboration includes collections designed and curated by David Beckham for both formal and casual menswear.
The seven-piece collection has been created with the perfumers Anne Flipo, Fanny Bal and Quentin Bisch.
The Chinese online retailer reported first-quarter revenue that beat market estimates, as price cuts and discount coupons helped boost sales that have been hit by cautious customer sentiment.
Under the European Union’s Digital Services Act, online marketplaces and intermediaries are required to fight illegal and harmful content as well as counterfeit products on their platforms.
In a step-change from previous Olympic advertisements, the consumer goods giant plans to focus on promoting individual brands rather than its overall corporate values.
In an Instagram post, the intimates retailer said the show will “reflect who we are today, plus everything you know and love.”