Clothing | GlobalPost

Zara owner Inditex raises profit on global expansion

Agence France-PresseJune 12, 2013 07:41

Spanish textile giant Inditex, owner of the Zara brand, announced Wednesday a rise in quarterly profit as it pursued a global expansion with a string of new stores including in Japan, China and Russia. The spread of Inditex's worldwide reach boosted sales by 5.2 percent from the level a year earlier to 3.59 billion euros ($4.8 billion) in the three months to April 30, the first quarter of the firm's 2013 business year. Net profit climbed 1.4 percent to 438 million euros in the same period.

Sun shines on ASOS as Inditex and H&M feel the chill

Thomson ReutersJune 12, 2013 07:35

By Sarah Morris and Anna Ringstrom MADRID/STOCKHOLM (Reuters) - Cold weather in recession-weary Europe left spring collections on the racks of the world's biggest clothing retailers, Inditex and H&M, while small British rival ASOS beat the seasons with soaring demand for its cost-conscious online offering.

Marois backs Quebec soccer body on turbans, calls suspended group 'autonomous'

The Canadian PressJune 11, 2013 17:34

MONTREAL - Pauline Marois came out kicking in defence of the Quebec Soccer Federation's refusal to let turban-wearing kids play the sport, a position that has lobbed the controversial debate into the province's political arena. The Canadian Soccer Association suspended the provincial association on Monday after the Quebec body showed no sign of overturning its decision to uphold a ban on Sikh religious headwear on the pitch. It says the suspension will remain in place until the Quebec organization lifts its restriction on turbans, patkas and keskis in organized soccer.

Investors lose faith in Lululemon after CEO Christine Day says she's leaving

The Canadian PressJune 11, 2013 19:35

NEW YORK, N.Y. - Lululemon Athletica's CEO Christine Day may not be a household name to the athletic wear company's legions of loyal shoppers. But for investors, she's the face of the chain. Lululemon's shares plunged 17 per cent and several Wall Street analysts downgraded their ratings on the stock on Tuesday, a day after the company announced that Day, 51, planned to step down. Under Day's leadership over the past five years, Lululemon has achieved meteoric growth by attracting yogis and others willing to shell out $100 for yoga pants.

Lululemon dealt setback as CEO plans to exit amid clothing problems

The Canadian PressJune 11, 2013 11:30

TORONTO - The fallout from the latest wardrobe malfunction at Lululemon Athletica Inc. (TSX:LLL) continued Tuesday as the stock plunged following news that the woman who helped build the company's reputation plans to depart. Chief executive Christine Day's announcement late Monday came as a surprise to most and overshadowed better-than-expected earnings at the athletic clothing retailer.

Dole Food, Lululemon, LDK Solar, Diamond Foods are big market movers on Tuesday

The Canadian PressJune 11, 2013 18:32

NEW YORK, N.Y. - Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Dole Food Co. Inc., up $2.26 at $12.46 The fresh fruit and vegetable company's CEO and his family are offering to buy Dole with a bid that values it at $1.07 billion. LDK Solar Co. Ltd., down 18 cents at $1.46 The Chinese solar company said that its first-quarter loss increased slightly, hurt by a nearly 50 per cent drop in revenue. Annie's Inc., down $1.70 at $39.98

A look at recent struggles for yoga retailer Lululemon as its popularity soared

The Canadian PressJune 11, 2013 17:30

Yoga-wear retailer Lululemon Athletica Inc. (TSX:LLL) has grown by leaps and bounds since its first store opened in Vancouver in 1998, but the company has hit several quality control snags as it struggles to keep shelves stocked. Meanwhile, skyrocketing demand for Lululemon clothing in the past five years has produce quarterly earnings that consistently impress investors, but has also left some customers empty-handed.

Football: Quebec federation suspended over turban ban

Agence France-PresseJune 11, 2013 16:40

The Canadian Soccer Association has suspended its Quebec affiliate over the province's decision to ban turbans on the football pitch -- a move that has angered Sikh groups. In a statement, the sport's national governing body said it acted after a June 6 request to the Quebec Soccer Federation to reverse its position on players wearing the head garments was ignored. Quebec is the only province to institute such a ban on turbans, which are worn by many Canadian Sikhs. A few hundred Sikh players are estimated to be affected by the measure.

Lululemon CEO search sparks concern, market jitters

Thomson ReutersJune 11, 2013 12:34

By Susan Taylor and Solarina Ho TORONTO (Reuters) - Shares of Lululemon Athletica Inc <LLL.TO> <LULU.O> plunged on Tuesday on worries that it will not be easy for the high-end yogawear maker and retailer to replace outgoing Chief Executive Christine Day, the company's very public face.

Hundreds of strikers fired from Nike factory

Agence France-PresseJune 11, 2013 11:39

Hundreds of workers have been fired from a Cambodian factory making sportswear for US giant Nike following a series of protests over pay, unionists said on Tuesday, denouncing the move as "unacceptable" and illegal. "They have been forced to resign from their jobs without any compensation. This act is illegal," said Mann Seng Hak, a leader of the Free Trade Union. He said nearly 300 workers had been sacked.