Selected Financial Indicators Summarized selected financial indicators of the Group for 09 months of 2025 compared to 09 months of 2024 and 30.09.2025 compared to 31.12.2024 were as follows: in thousands of EUR09m 202509m 2024Change Revenue44 37946 489-4.5%Gross Profit24 23027 232-11.0%Operating profit10 25814 452-29.0%EBITDA12 81016 724-23.4%Net profit for the period8 98510 705-16.1%Net profit attributable equity holders of the Parent company8 2819 711-14.7%Earnings per share (EUR)0,230,27<td style="width: ...

Core Insights - Black Friday in India has evolved into a major shopping event, characterized by significant discounts and a surge in consumer engagement, transforming it into a spectacle rather than just a sale [2][30] - E-commerce platforms are leveraging the momentum from Diwali sales, with a record Gross Merchandise Value (GMV) of Rs 1.24 lakh crore, to boost their earnings during Black Friday [3][30] - The event has seen a 25% annual increase in demand for fashion items, particularly driven by consumers from Tier 2 and Tier 3 cities [6][30] E-commerce Trends - Major players like Amazon, Flipkart, Myntra, Nykaa, and Tata Cliq are leading the Black Friday trend in India, launching special deals days in advance [7][30] - Amazon's Black Friday Sale, set to go live on November 28, offers discounts of up to 80% along with cashback and credit card offers, showcasing a strong collaboration with sellers and brands [8][30] - Nykaa's 'Pink Friday Sale' offers discounts of up to 60% on beauty products and up to 80% on fashion items, reflecting a significant growth in customer acquisition and GMV [11][12][30] Marketing Strategies - Retailers are employing extensive pre-sale marketing strategies, including influencer collaborations and digital teasers, to create buzz around Black Friday [13][15][30] - Myntra's marketing approach includes performance-led campaigns and influencer-driven content to enhance customer engagement and purchase intent [16][30] - Brands are utilizing celebrity endorsements and influencer hype to attract consumers, with Nykaa partnering with notable figures for its campaigns [14][30] Retail Experience - Shopping malls are preparing for increased footfall during Black Friday, enhancing the shopping experience with festive decor and extended hours [20][24][30] - Malls are implementing pre-sale strategies to build anticipation, including loyalty member updates and immersive digital content [22][24][30] - The event is expected to deepen customer loyalty and enhance tenant performance, with a focus on premium products and family-oriented outings [25][26][30] Consumer Behavior - Black Friday has become a highly anticipated shopping week in India, with consumers planning big-ticket purchases and seeking attractive deals across various categories [18][31][30] - The ongoing wedding season and early winter have spurred demand for premium and luxury items, indicating a shift in consumer preferences [28][31]

Core Insights - Brooke Rodd, a retail brand founded by Brooke Lanier Rodd, has filed for Chapter 11 bankruptcy protection, seeking to restructure its debt while keeping its Santa Monica store operational [5][6]. Company Background - Brooke Lanier Rodd began her career in the music industry, working with notable figures and artists at The Hit Factory Recording Studio and Arista Records [1][2]. - Transitioning from music to fashion photography, Rodd eventually established her retail brand in Los Angeles, inspired by her appreciation for vintage style and unique treasures [3][4]. Bankruptcy Filing - The bankruptcy filing is categorized as a Chapter 11 Subchapter V petition, which is a streamlined reorganization option for small businesses [6]. - The company cited a significant imbalance between its assets and liabilities as the reason for the bankruptcy [6]. - The filing includes a request for court approval of a reorganization plan that would allow the business to pay creditors while remaining operational during the restructuring process [7].

Core Insights - Citi Trends (CTRN) is valued at $364 million and primarily serves African-American and Latino families in the U.S. with fashion apparel, accessories, and home goods [1] - The stock has shown strong technical momentum, gaining 23.84% since a new "Buy" signal was issued on October 9 [2] - Over the past year, CTRN shares have increased by more than 130%, indicating significant growth [6] Technical Indicators - Citi Trends recently hit a three-year high of $45.25 on November 25 [4] - The stock has a Weighted Alpha of +116.14 and a Relative Strength Index (RSI) of 77.01, suggesting strong performance [7] - There is a technical support level around $41.82, with a 50-day moving average of $36 [7] Financial Projections - Revenue is projected to grow by 6.04% this year and an additional 5.38% next year [7] - Earnings are estimated to increase by 77.81% this year and an additional 160.20% next year [8] - Positive sentiment from Wall Street analysts and retail investors supports the improving fundamentals of the company [6]

Core Insights - Gap Inc. reported a net income of $236 million, down from $274 million a year earlier, with a diluted share of 62 cents compared to 72 cents previously, attributed to a slight decline in margin and timing of SG&A expenses [1] - The company’s gross margin was 42.4 percent, a decrease of 30 basis points year-over-year, with merchandise margin down 70 basis points, impacted by an estimated net tariff effect of approximately 190 basis points [1][6] - Gap Inc. raised its annual net sales growth guidance to 1.7 percent to 2 percent, up from the previous forecast of 1 percent to 2 percent, with an expected operating margin rate of 7.2 percent for the year [7] Financial Performance - Gap Inc. reported third-quarter net sales of $3.9 billion, a 3 percent increase from the previous year, with comparable sales rising 5 percent, marking the seventh consecutive quarter of positive comparable sales [4][5] - Banana Republic's third-quarter net sales slipped 1 percent to $464 million, while comparable sales increased by 4 percent [2] - Old Navy's third-quarter sales reached $2.3 billion, up 5 percent year-over-year, with comparable sales rising 6 percent [2] Market Position and Strategy - The company experienced growth across all income cohorts, with strong consumer response to its price, value, and style offerings, leading to confidence heading into the holiday season [5] - Gap Inc. reported less discounting compared to the previous year, contributing to better regular price sell-throughs and overall margin performance [6] - The company ended the quarter with nearly 3,500 store locations in 35 countries, with 2,497 being company-operated [10] Online Sales and Future Outlook - Online sales increased by 2 percent year-over-year, representing 40 percent of total net sales [11] - The company is optimistic about the holiday season, with strong product presentations and marketing strategies in place [8]

Core Insights - Walmart's executives are enthusiastic about the growth of its fashion business, which has shown over 5% growth in the last quarter, contributing positively to the company's overall performance [2] - The company is transitioning to a more tech-oriented profile, moving to the Nasdaq stock exchange, which reflects its competitive stance against Amazon [3] - Following the positive financial results, Walmart's stock price increased by 6.5%, raising its market capitalization by over $50 billion to $855 billion, nearing its all-time high [4] Company Strategy - Walmart is focusing on building significant fashion brands rather than just item-driven sales, indicating a shift in its retail strategy [5][6] - The hiring of experienced professionals from high-end retail backgrounds, such as Denise Incandela and Brandon Maxwell, highlights Walmart's commitment to enhancing its fashion offerings [5] - The online marketplace is being leveraged to connect third-party sellers with customers, providing a new avenue for fashion sales [6]

Core Viewpoint - French fashion and retail groups are intensifying legal actions against Shein to address unfair competition and ensure compliance with European product safety standards, aiming to protect local retailers and set a legal precedent for regulating global e-commerce platforms [1][2]. Group 1: Legal Action and Objectives - Twelve French retail federations and several major brands have initiated legal proceedings against Shein's European subsidiary to halt unfair competition [1][2]. - The legal action seeks to ensure compliance with European product safety standards and aims to recover damages for economic harm caused to the sector [2]. Group 2: Economic Impact - Coalition estimates suggest that Shein's practices may have resulted in economic losses of up to 3 billion euros for French companies, highlighting a systemic issue affecting the domestic retail industry [4]. - The aggressive pricing and rapid product turnover of Shein, along with its noncompliance with safety standards, have created an uneven competitive landscape for French fashion brands [3][4]. Group 3: Market Dynamics - The number of parcels arriving in France from Chinese platforms, including Shein, has reached 2 million per day, quadrupling over the past three years [5]. - The commercial vacancy rate in the fashion sector is currently at 11%, with 23,000 jobs lost in the sector over the past five years due to the influx of low-cost clothing available online [6][7].

Core Viewpoint - Alpha Modus, Corp. has filed a patent infringement lawsuit against Inditex and Zara USA, claiming unauthorized use of its patented retail technologies [1][2] Group 1: Patent Infringement Details - The lawsuit asserts infringement of four U.S. patents related to real-time retail analytics, personalized shopper engagement, inventory intelligence, and automated in-store purchase technologies [1] - The complaint alleges that Zara's retail environment utilizes Alpha Modus's patented methods without authorization, including RFID garment tracking systems and digital surveillance technologies [2] Group 2: Technology Foundation - Alpha Modus emphasizes that its patented technologies were developed through extensive engineering and real-world testing in retail environments [3] - The company has a growing network of reseller and ecosystem partnerships that integrate its patented methods into retail infrastructure, showcasing active commercial implementations [4] Group 3: Importance of Enforcement - The technologies covered by the patents are essential for modern retail operations, including product-interaction analysis and automated checkout workflows [5] - Alpha Modus typically licenses its intellectual property and pursues enforcement actions only when unlicensed use provides competitive advantages to infringing parties [5] Group 4: Case Information - The lawsuit, titled Alpha Modus, Corp. v. Industria de Diseño Textil, S.A. & Zara USA, Inc., seeks monetary damages, enhanced damages for willful infringement, and injunctive relief [6][9] Group 5: Company Overview - Alpha Modus is a vertical AI company focused on real-time in-store shopper engagement, utilizing a patented "closed-loop" retail AI framework [7] - The company is actively deploying technologies that merge AI, retail media, and financial access across the retail landscape [7]

Core Viewpoint - Marks & Spencer (M&S) has launched RE:Spark, a supply chain decarbonization program in partnership with Schneider Electric, aimed at accelerating renewable electricity adoption across its global supply chain as part of its Plan A sustainability strategy to achieve net zero emissions by 2040 [1][2]. Group 1: Program Overview - RE:Spark is designed to facilitate change across M&S's supply chain, focusing initially on high-impact regions within its fashion supply chain, with plans for expansion over the next three years [2]. - The program aims to provide support and resources to suppliers, helping them build networks and resilience for long-term sustainability [3]. Group 2: Strategic Initiatives - A digital hub powered by Schneider Electric's Zeigo Hub will be launched, allowing suppliers to submit emissions data, track decarbonization efforts, and access specialized learning resources [5]. - M&S will host regional market briefs and webinars to educate suppliers on renewable electricity procurement in five key regions: Vietnam, Turkey, India, China, and Bangladesh [5]. - Strategic advisory services will be provided to help suppliers assess and implement clean energy solutions, including onsite solar, energy attribute certificates, green tariffs, and power purchase agreements (PPAs) [5]. - The program will enable suppliers to aggregate demand for PPAs, allowing smaller suppliers to participate in multi-buyer cohorts and access renewable electricity at scale [5].

Core Insights - Manhattan Associates Inc. announced the successful deployment of its Manhattan Active® Point of Sale (POS) solution at Pacsun, a prominent youth fashion retailer [1] - The implementation of the POS solution took place across over 300 stores within an eight-week timeframe following a five-month pilot project [1] - The cloud-native POS solution enhances in-store sales and service by integrating digital convenience with personalized retailing [1] Company Summary - Pacsun is recognized as a leading retailer in the youth fashion sector [1] - The collaboration with Manhattan Associates aims to modernize Pacsun's retail operations through advanced technology [1] Industry Impact - The deployment of cloud-native solutions like Manhattan's POS is indicative of a broader trend in the retail industry towards digital transformation and enhanced customer experience [1] - The rapid rollout of the POS system reflects the increasing demand for efficient and flexible retail solutions in a competitive market [1]