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British Retailer Mothercare's CEO Steps Down

Baby products retailer Mothercare Plc said on Friday Chief Executive Officer Daniel Le Vesconte has stepped down, effective immediately, after just five months at the helm. The departure comes a month after the London-listed company said it had begun discussions with its lender to change, renegotiate, or refinance its debt facility due to higher interest rates, warning that it may need waivers to future covenant tests.
United States Societe Generale Massimo Dutti Anne Critchlow Pull Bear Saudi Arabia
Source: aawsat.com

Zara-Owner Inditex Enjoys Strong Start to Summer

Zara owner Inditex (ITX.MC) said on Wednesday sales of its spring-summer collection gathered pace to jump 16% in May, as the retailer mitigates higher wage costs and keeps customers onside during a cost of living crisis. The world's biggest fast fashion company reported a better-than-expected 54% rise in net profit of 1.2 billion euros ($1.24 billion) for the first quarter that ended in April, exceeding analysts' average expectations of 980 million euros in a Refinitiv poll.
United States Massimo Dutti Societe Generale Anne Critchlow Pull Bear Saudi Arabia
Source: aawsat.com

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