Business Brief: American Apparel Director Resigns, ‘Lucky’ Mag Is Going Out Of Print
Net-a-Porter Announces Record Sales
The Fashion e-tail giant reported an profit of ($2.9 million) after tax and ($17.1 million) before tax in the 12 months ending March 2015.[Financial Times]
H&m’s Growth Slowed This Spring (But It Beat Forecasts)
The Swedish fashion retailer posted a bigger-than expected jump in sales in May, helped by weakness of the Swedish crown against other international currencies.[Reuters]
‘Lucky’ Is Going Out Of Print For Now
Lucky magazine will cease printing, but that the digital arm of the brand will continue.[New York Magazine]
Michael Kors Agrees To Pay $4.8 Million To Settle Lawsuit Over ‘deceptive’ Price Tags
Michael Kors Holdings Ltd has agreed to pay $4.88 million and and change its sales practices to settle a lawsuit which claims Kors outlet shops created a false illusion of big discounts.[Business Insider]
American Apparel Director Resigns
American Apparel board member David Danziger Monday abruptly left his position, which he had held since 2011. CEO Paula Schneider will take his post. [WSJ]
