The News In Brief
Christian Dior Couture Client Data Breached in Cyber Attack
LVMH’s second biggest fashion label said an “unauthorised external party” accessed some customers’ data, but not financial information.
CVS Bids for Rite Aid Stores in Pacific Northwest
The largest US retail pharmacy chain is trying to buy Rite Aid stores in Washington, Oregon and Idaho, in addition to patient prescription information, CEO Matthew Schroeder told employees.
Cassandra Grey Launches Perfume Label With $1,100 Fragrance
The month before its new Madison Avenue outpost opens to the public, the luxury beauty retailer has quietly launched Madame Grey, with a hair mist and a perfume.
Yoox Net-a-Porter’s New Owner Reveals Plan for Profitability
The newly-combined company, LuxExperience, which brings Mytheresa and Yoox Net-a-Porter under one roof, announced a €250 million strategy to create a profitable €4 billion luxury group.
Alibaba’s Growth Fails to Impress in Dour Note for China Tech
The e-commerce company’s quarterly revenue growth slowed to just 7 percent, possibly hindering plans to focus on its AI infrastructure.
Birkenstock Plans Price Hikes to Offset Tariffs, Sees Strong Demand
Birkenstock will globally increase prices to counter the 10% US tariff on EU goods, following better-than-expected sales and an improved financial outlook.
Dick’s Sporting Goods to Buy Foot Locker for $2.4 Billion
Dick’s largest deal in the sporting goods industry will help the company expand to international markets for the first time.
Retailers Rush to Save US Summer Shopping Season
Following a temporary US tariff cut on Chinese imports, US retailers are accelerating efforts to import summer merchandise from China, reversing a previous slowdown in orders.
Shein Lowers Prices to Lure Back US Shoppers After Tariff Cut
Shein reduced its US retail prices after a temporary cut in US tariffs on Chinese imports, aiming to regain customers who were deterred by previous price increases.
Dick’s Sporting Goods is Nearing $2.3 Billion Deal for Foot Locker
Under the current deal, which could be announced as soon as Thursday, Dick’s will pay $24 per share for Foot Locker.
Luxury Sector Faces More Gloom as Bain Cuts Sales Forecast
Consultancy Bain & Co forecast global sales of luxury goods to fall between 2 and 5 percent this year, sharply downgraded from previous estimates.
Ferragamo’s Revenues Fell 1% in First Quarter, Dragged by Weak Sales in Asia
The luxury group, currently without a CEO, missed analyst expectations.