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1. Fashion retailer H&M’s sales jump, but investors fret over margins: March to May sales were not only lower than before the pandemic began, but investors also voiced concerns over profit margins ahead of H&M’s full quarterly earnings report due on June 29. – Read More on Reuters

2. What Happened to the Fashion Industry Reset? Not swearing off runway shows, brands are staging stand-alone shows in far-flung destinations around the world, in addition to the traditional Cruise and Resort events that we had pre-pandemic. – Read More on British Vogue

3. Luxury brands say China’s latest Covid wave has whacked consumer demand: Premium consumer and luxury goods brands now only expect 3% year-on-year growth in their mainland China business this year, down sharply from an 18% surge they forecast a few months ago. – Read More on CNBC

4. U.S. Retail Sales Declined in May as Inflation Stings Consumers: Consumer spending, buoyed by strong job growth and stimulus measures, was the backbone of the country’s economic recovery since a brief recession occurred in early 2020. That strength is fading. – Read More on the WSJ

5. Russia’s Wildberries selling Zara clothes online despite Inditex halting operations: Inditex is one of many Western brands to shutter stores and suspend operations in Russia, but the continued sale of some of its products highlights the difficulties companies face in keeping control of their brands. – Read More on Reuters