Farfetch Introduces Fashion Footprint Tool

Gregory P. Daily

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LONDON — Farfetch is forging ahead with its sustainability commitments and introducing a “fashion footprint” tool to help customers better understand the environmental impact of their purchases — and to highlight the benefits of buying pre-owned. The aim is to ensure that sustainability remains top-of-mind for the consumer.

The introduction of the online tool, which will allow consumers to see the impact of specific materials in their purchases and the savings they are making if they choose to buy secondhand merchandise, was informed by a report examining the pre-owned market that was published by Farfetch in partnership with the London Waste and Recycling Board.

The report looks at the growth of the pre-owned market in the U.K., the U.S. and China., key consumer behaviors, as well as “displacement rates,” or the extent to which shopping pre-owned reduces the demand for new-season items.

“The

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German online fashion retailer Zalando raises full year guidance

(Reuters) – German online fashion retailer Zalando SE increased its full year earnings guidance on Wednesday, as the coronavirus pandemic prompts more people to shop online.

The company said it expects to grow gross merchandise volume (GMV) by 20% to 25% and revenue by 15% to 20% in 2020, up from its guidance from May 6 when the company had expected GMV and revenue growth of 10% to 20%.

Europe’s biggest online-only fashion retailer said it expects adjusted earnings before interest and tax (EBIT) of 250-300 million euros for the full year.

The company said that based on preliminary figures for the second quarter, it has grown GMV by 32% to 34% to 2.67-2.71 billion euros and group revenues by 26% to 28% to 2.01-2.05 billion euros, adding it expects a second quarter adjusted EBIT in the range of 200-220 million euros.

The company’s financial results for the second quarter

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Busy Shopping Scenes Only Part of the Picture

Gregory P. Daily

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Monday saw throngs of shoppers in England’s high streets, but it’s a stark reality from the distant supply chain workers and factory owners — many still holding out for payment from those same retailers, perhaps on declining hopes.

With stores permitted to reopen on Monday, lines gathered in locations like Oxford Circus outside Apple, Nike, Cos, Kiko and Zara. In another part of town, Westfield London in Hammersmith, teenagers sipped iced drinks and Primark bags, lounging in the sun.

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Eager for sales and anything that didn’t resemble the confines of their living rooms, H&M, Zara, Apple and the clearance stalls at Foot Locker also drew pools of shoppers.

Despite Western retailers sliding up their gates and opening doors to shoppers, things are far from “normal” for apparel manufacturers in Bangladesh, which attributes 80 percent of its exports to the sector.

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Macy’s Black Friday in July

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Slashing prices on homeware, kitchen items, clothing and beauty products, Macy’s is hosting a Black Friday in July sale with huge discounts that match those you would normally see around Thanksgiving. Brands like KitchenAid, Tommy Hilfiger and Martha Stewart Collection are participating, giving shoppers the opportunity to purchase thousands of high quality products at low prices. The sale is active through July 13.

While Macy’s typically holds a clearance event towards the end of the summer, Michael Bonebright, consumer analyst for DealNews.com, said this year’s sale is earlier and filled with “unusually good” discounts. He attributes the sale to Macy’s

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