Fashion
Additional US tariff to unevenly hit Indian corporations: S&P Global
The tariff effects on rated APAC corporations have been modest so far.
US tariff-related hits to credit quality in APAC will become more pronounced, and the tariffs pose downside risk to the 12 per cent of rated APAC corporate and infrastructure issuers S&P Global Ratings views as exposed to material tariff-related effects.
S&P Global expects the tariff will unevenly hit Indian corporations.
US tariff actions on APAC nations will remain fluid, with varying effects, it noted.
US tariff actions on APAC nations will remain fluid, with varying effects across countries and sectors. This creates uncertainty—and risk—for bondholders, the rating agency said recently in a report.
The indirect impact of potential weaker macroeconomic conditions poses a greater risk than the direct effect of tariffs levied on countries and sectors.
The auto sector in the region faces the most direct tariff impact. The chemicals and metals & mining sectors are most exposed to indirect effects, as these sectors are already facing structural and cyclical pressures.
About 80 per cent of the corporations S&P Global Ratings rates in APAC are investment-grade. They carry quite a bit of financial flexibility against immediate tariff impacts.
However, the indirect (or second order) effects could be pervasive. These include a global or regional slowdown, the report noted.
Tariffs may also amplify existing cyclical and structural pressures, such as overcapacity in China.
The risk of a sudden influx of cheap goods in regional markets to offset a loss of access to the US market also poses a significant threat to the region’s steel, textile, apparel and chemicals sectors.
Additional import duties and measures by several countries in the region will further escalate risks for exporters.
“While the latest US tariff differential among Asia-Pacific countries has narrowed, we believe trade flows and supply chains will continue to reshape, and this presents a category of risk in itself,” said the report.
S&P Global expects the additional US tariff will unevenly hit Indian corporations. Exporters of capital goods, chemicals, automobiles and food and beverages will face the toughest adjustment. Pharmaceuticals and smartphones are insulated because of exemptions. But uncertainty remains especially for pharmaceuticals.
Fibre2Fashion News Desk (DS)
Guess?, Inc has reported results for the second quarter (Q2) of fiscal 2026 (FY26) ended August 2, 2025, returning to profit with GAAP net earnings of $6.2 million compared to a loss of $10.6 million a year earlier, largely due to a $1.1 million unrealised derivative gain against a $40.5 million loss last year on its 2028 convertible notes.
Guess?, returned to profit in Q2 FY26 with GAAP net earnings of $6.2 million versus a $10.6 million loss last year.
Revenue rose 6 per cent to $772.9 million, driven by Europe, but Americas retail, wholesale and Asia weakened.
Operating margins shrank sharply, and H1 showed a $26.7 million loss, highlighting ongoing cost and demand pressures.
GAAP diluted earnings per share stood at $0.12 versus a loss of $0.28 in the same prior-year quarter, with share buybacks and currency providing a combined $0.05 benefit. On an adjusted basis, net earnings fell 40 per cent to $13.8 million, with adjusted diluted EPS dropping to $0.26 from $0.42.
Total net revenue grew 6 per cent to $772.9 million from $732.6 million a year earlier, reflecting strong growth in Europe where revenues advanced 14 per cent in dollars and 9 per cent in constant currency. Europe also delivered an 11 per cent rise in retail comparable sales. The Americas Retail business slipped 1 per cent with comparable sales down 5 per cent, while Americas Wholesale dropped 11 per cent. Asia rose 3 per cent but comparable sales declined 2 per cent, and licensing fell 10 per cent.
Operating income declined sharply as GAAP earnings from operations fell 62.1 per cent to $18.1 million, taking margins down to 2.3 per cent from 6.5 per cent a year ago, mainly due to higher store and advertising expenses, markdowns, a weaker business mix and the absence of a gain on asset sales booked last year, the company said in a release.
Adjusted operating income slid 25 per cent to $28.5 million with margins narrowing to 3.7 per cent from 5.2 per cent. By segment, Europe margins improved to 10.6 per cent, Americas Retail plunged to negative 3.7 per cent, Americas Wholesale improved slightly to 19.6 per cent, Asia weakened to negative 6.8 per cent, and Licensing rose to 95.4 per cent.
“We are pleased with our second quarter performance, as we delivered revenues ahead of our expectations for the period. Our improved revenues were mainly driven by stronger than expected comparable store sales in our European business and in our Americas Retail segment, which showed continued improvement in same store sales versus the prior quarter. During the period we managed margins and expenses well, which, coupled with the revenue growth, led to GAAP earnings per share within our range of expectations and better than expected adjusted earnings per share.” Carlos Alberini, chief executive officer, commented.
For the six months ended August 2, 2025, the company posted a GAAP net loss of $26.7 million compared with net earnings of $2.4 million in the prior-year period, reflecting a $3.2 million unrealised derivative loss versus a $2 million gain last year. Diluted loss per share was $0.53 compared with EPS of $0.04, with buybacks reducing EPS by $0.02 but currency adding $0.12. Adjusted net results showed a loss of $8.5 million against earnings of $9.1 million last year, with adjusted diluted EPS at negative $0.17 versus positive $0.16. Revenues for the half rose 7 per cent to $1.42 billion, supported by growth in Europe and Americas Wholesale but weighed down by a 10 per cent decline in Asia and a 12 per cent fall in licensing.
GAAP operating results swung to a $15.2 million loss from earnings of $27.9 million last year, with margins slipping to negative 1.1 per cent from 2.1 per cent. Adjusted operating income dropped to $2.7 million from $30.3 million, with margin reduced to just 0.2 per cent from 2.3 per cent.
Despite top-line growth in Europe and Wholesale, Guess’s profitability remains under pressure from higher costs, weak Americas retail demand, and significant losses in Asia, signalling a challenging path ahead for restoring margin strength.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (HU)
Cotton yarn prices dropped by ₹2-3 per kg in Mumbai due to US tariffs, weak demand, and GST restructuring uncertainty, while Tiruppur markets remained steady with discounts.
Mills in Tamil Nadu may cut rates further.
In Gujarat, cotton prices fell ₹1,000 per candy as CCI reduced auction rates and mills slowed buying.
Traders face liquidity strain as unsold stocks pile up.
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Translated by
Nazia BIBI KEENOO
Published
August 29, 2025
Mango is expanding its fashion offer for younger consumers — and for its first Mango Teen location in France, the brand has chosen Lyon over Paris. The new store opens on Aug. 29 at the Westfield La Part-Dieu shopping center, a high-footfall retail destination, and becomes the fourth country where this format is being rolled out in Europe.
Spanning nearly 250 square meters, the Mango Teen boutique offers a wide range of clothing, footwear, and accessories. It sits in the same center where the brand recently revamped its flagship Mango store, which now covers 700 square meters and features dedicated spaces for womenswear, menswear, and childrenswear.
Launched in 2021 as an online concept, Mango Teen targets consumers aged 12 to 20 with a mix of wardrobe essentials and trend-forward pieces positioned in the mid-range segment. The line aims to fill what Mango calls “a gap in the market” between childhood and adulthood.
“France is both a historic and strategic market for Mango, and the opening of this store is a major step in the international expansion of our youth line. It illustrates our desire to continue inspiring and sharing our passion for fashion with a younger audience. It’s an important step forward in building a global brand that appeals to all generations,” said Berta Moral, director of Mango Kids and Teen.
Mango Teen first launched its brick-and-mortar format in the United Kingdom and has recently announced further expansion there, including the opening of a third UK store in Glasgow this August.
In France, no additional Mango Teen locations have been confirmed so far. However, the brand currently operates more than 40 Mango Teen stores worldwide and plans to open around 15 new locations by 2025. These include a first store in Portugal, launched in Lisbon earlier this year, as well as another in Andorra. The collection is also available for sale online in 95 countries.
While exact sales figures for Mango Teen were not disclosed, the company confirmed that both its Kids and Teen divisions recorded double-digit growth in fiscal 2024. That same year, the Mango Group generated global revenues of €3.34 billion — up 7.6% from 2023. And the new year is off to a promising start: for the first half of 2025, Mango reported a 12% year-over-year increase in turnover, reaching €1.73 billion. The brand’s global retail network now comprises 2,700 stores, with over 250 located in France.
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