Peak Trading

Gucci and Balenciaga owner Kering saw a 17% year-on-year decline in net profit for the 12 months ended 31 December 2023 as golden quarter trade suffered.

VF Corporation, which owns Vans, The North Face and Timberland, has reported a 16% year-on-year decline in revenue to $2.96bn (£2.34bn) for the 12 weeks ended 30 December 2023 and announced the exit of CFO Matt Puckett.

Online clothing retailer Freemans has appointed Susie Calvert, former trading director at Debenhams, as chief merchandising officer.

Fashion retailer Superdry's sales have fallen for the 26-week period to 28 October 2023 amid “unseasonal weather conditions” and “macroeconomic uncertainty” challenges – and has announced that its CFO is stepping down.

Luxury giant LVMH, which owns labels including Louis Vuitton, Christian Dior and Celine, reported profit from recurring operations rose 8% in 2023 to €22.8bn (£19.4bn), while group share of net profit also rose 8% to €15.2bn (£12.9bn).

Dr Martens reported a year-on-year drop in revenue for the three months to 31 December 2023 caused by a "weak" US performance. 

Primark reported a 7.3% rise in sales to £3.4bn for the 16 weeks to 6 January year on year, driven by strong Christmas trading.

Retail sales volumes fell by 3.2% in December 2023 from an increase of 1.4% in November, new data from the Office for National Statistics (ONS) shows.

Peak trading revenue at British luxury brand Mulberry has fallen 8.4% year on year for the 13 weeks ended 30 December 2023.

German fashion giant Hugo Boss reported that currency-adjusted group sales grew by 13% in the final quarter of 2023 compared with the same period in the previous year, to €1.18bn (£1.02bn), and now expects full-year profits to grow by 22%.