The News In Brief
Canadian Retailer Prepares to File for Bankruptcy
Hudson’s Bay is reportedly preparing to file for bankruptcy after failing to secure financing and delaying payments to suppliers, according to sources familiar with the matter.
E.l.f. Beauty Sued in Securities Claims Class-Action Lawsuit
The beauty company says the lawsuit based on a November 2024 short-seller report is “meritless.”
Gap Surges on Strong Sales Led by ‘Impressive’ Namesake Brand
Gap Inc. saw a 17 percent surge in shares following better-than-expected quarterly sales, with standout performances from its namesake brand, Old Navy, and Banana Republic, although Athleta posted an unexpected decline.
Space NK to Open New London Flagship
The premium British beauty store will open a new 4,600 square foot store on London’s busy Oxford Street, in a unit previously occupied by fashion retailer Topshop.
Walgreens Boots Alliance to Be Taken Private in $10 Billion Deal
Private equity firm Sycamore Partners announced on Thursday it will purchase the company, bringing an end to almost a century of trading on the public market — and at a fraction of its former value.
Trump Delays Tariffs on Many Products From Mexico and Canada
The US President temporarily delayed tariffs on goods from its neighbouring countries, shelving duties until April after facing pushback from businesses and warnings of significant price increases for US consumers.
JD.com Sales Rise Most in Years After China Consumers Awaken
The retailer reported its fastest revenue growth in nearly three years, driven by Beijing’s supportive policies, with a 13 percent increase in sales for the December quarter.
Macy’s Joins Retailers With Good Results, Dour Outlook
The retailer posted better-than-expected quarterly results but issued a downbeat annual sales and profit forecast, citing 'external uncertainties' and warning of weaker performance ahead.
Zalando Says Differs From Other Online Platforms, EU Tech Rules Should Not Apply
The retailer criticised EU tech regulators for grouping it with Amazon and AliExpress under the Digital Services Act, arguing that its hybrid business model should not subject it to the same stringent rules as the other platforms.
Zalando Sees Growth Helped by Loyalty Programme, Fewer Discounts
Revenue will likely grow between 4 percent to 9 percent, the company said Thursday as it reported full-year results.
Walmart Asks Chinese Suppliers for Major Price Cuts on Trump Tariffs
Some suppliers, including clothing producers, have been asked to lower prices by as much as 10 percent per round of tariffs, essentially shouldering the full cost of duties.
Victoria’s Secret Abandons DEI Goal for Focus on ‘Belonging’
Chief executive officer Hillary Super told workers in a recent memo that Victoria’s Secret will “ensure our global team is inclusive of a wide range of backgrounds, experiences and perspectives.”