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UK Retailer Superdry Downbeat on Recovery after Weak Christmas

FILE PHOTO: A woman walks past a window display at a Superdry store in London, Britain, March 1, 2019. REUTERS/Toby Melville/File Photo
FILE PHOTO: A woman walks past a window display at a Superdry store in London, Britain, March 1, 2019. REUTERS/Toby Melville/File Photo
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UK Retailer Superdry Downbeat on Recovery after Weak Christmas

FILE PHOTO: A woman walks past a window display at a Superdry store in London, Britain, March 1, 2019. REUTERS/Toby Melville/File Photo
FILE PHOTO: A woman walks past a window display at a Superdry store in London, Britain, March 1, 2019. REUTERS/Toby Melville/File Photo

Britain's fashion retailer Superdry said on Friday it does not expect market conditions to improve in the near term after a tough Christmas season, and added that Chief Financial Officer Shaun Wills will leave the company by the end of March.
"A challenging consumer retail market, set against a backdrop of macro-economic uncertainty and some remarkably unseasonal weather conditions have all combined to weaken the financial performance of the Group," CEO Julian Dunkerton said in a statement.
The struggling fashion retailer, known for its jackets and clothing inspired by American vintage styles and Japanese graphics, reported a 13.7% drop in group sales for the 12-week period ended Jan. 20.
The company reiterated its expectations for full-year profitability to be dented by a weak trading environment.
Superdry named Giles David as its interim CFO, effective Jan. 29.
The London-listed company recorded an adjusted loss before tax for the six-month period ended Oct. 28 of 25.3 million pounds ($32.1 million) from 13.6 million pounds last year.

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Fashion

Seoul Authorities Find Toxic Substances in Shein and Temu Products

This photo taken on July 26, 2018 shows founder of e-commerce company Temu, also known as Pinduoduo, Colin Huang delivering a speech during the launch of the company's initial public offering in Shanghai. (Photo by CNS / AFP) / China OUT
This photo taken on July 26, 2018 shows founder of e-commerce company Temu, also known as Pinduoduo, Colin Huang delivering a speech during the launch of the company's initial public offering in Shanghai. (Photo by CNS / AFP) / China OUT
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Seoul Authorities Find Toxic Substances in Shein and Temu Products

This photo taken on July 26, 2018 shows founder of e-commerce company Temu, also known as Pinduoduo, Colin Huang delivering a speech during the launch of the company's initial public offering in Shanghai. (Photo by CNS / AFP) / China OUT
This photo taken on July 26, 2018 shows founder of e-commerce company Temu, also known as Pinduoduo, Colin Huang delivering a speech during the launch of the company's initial public offering in Shanghai. (Photo by CNS / AFP) / China OUT

Women's accessories sold by some of the world's most popular online shopping firms contained toxic substances sometimes hundreds of times above acceptable levels, authorities in Seoul said Wednesday.

Chinese giants including Shein, Temu and AliExpress have skyrocketed in popularity around the world in recent years, offering a vast selection of trendy clothes and accessories at stunningly low prices.

The explosive growth has led to increased scrutiny of their business practices and safety standards, including in the European Union and South Korea, where Seoul officials have been conducting weekly inspections of items sold by online platforms.

In the most recent inspection, 144 products from Shein, AliExpress and Temu were tested, and multiple products from all companies failed to meet legal standards.

Shoes from Shein were found to contain significantly high levels of phthalates -- chemicals used to make plastics more flexible -- with one pair 229 times above the legal limit.

"Phthalate-based plasticizers affect reproductive functions such as sperm count reduction, and can cause infertility and even premature birth," an official from Seoul's environmental health team told AFP.

One such chemical "is classified as a human carcinogen by the International Cancer Institute, so special care should be taken to avoid long-term contact with the human body", they added.

Formaldehyde, a chemical commonly used in home building products, was detected in Shein's caps at double the allowable threshold.

Two bottles of nail polish from Shein were found to have dioxane -- a possible human carcinogen that can cause liver poisoning -- at levels more than 3.6 times the allowed limit and methanol concentrations 1.4 times above the acceptable level.

Shein told AFP that they "work closely with international third-party testing agencies... to regularly carry out risk-based sampling tests to ensure that products provided by suppliers meet Shein's product safety standards".

"Our suppliers are required to comply with the controls and standards we have put in place as well as the product safety laws and regulations in the countries we operate in," the company added.

Seoul authorities found sandals from Temu contained lead in the insoles at levels more than 11 times the permissible limit.

Temu did not immediately respond to an AFP request for comment.

Seoul officials have asked for the products to be removed from sale, according to a government statement.

"Products that exceed the legal limit are products that directly contact the body, such as leather sandals and hats, so citizens should pay special attention," said Kim Tae-hee, an official in the capital.

"The Seoul Metropolitan Government will continue to conduct safety tests periodically and disclose the results."

In April, the European Union added Shein to its list of digital firms that are big enough to come under stricter safety rules -- including measures to protect customers from unsafe products, especially those that could be harmful to minors.

Shein and Temu have followed Chinese e-commerce titan Alibaba in challenging Amazon, especially by making inroads in the US market.