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Around 90 stores are set to shut by the end of March 2027, with the remainder closing by March 2028.
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For the quarter ended 3 May 2026, net revenue reached $2.47bn, while net income declined to $195m from $314.5m in Q1 FY25.
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The two companies plan to launch easyShop.com later this year in 21 European markets.
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The owner of Calvin Klein and Tommy Hilfiger reported a 2% increase in revenue to $2.03bn for the period.
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Investigators found the company had breached withdrawal rights rules by failing to provide customers with the legally required means to cancel orders.
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