Lululemon Hires Athleta Head in Management Shakeup
Maggie Gauger is joining Lululemon as chief product officer as new CEO Heidi O’Neill looks to revive sales.
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The News in Brief
Levi’s Growth Slows After Marketing Misstep
The company lost out in its third quarter because of a decision to market baggy jeans over low rise, but still raised its sales outlook for the year.
Fast Retailing Annual Profit Jumps 32%, Beats Expectations
The Uniqlo owner hit a new record annual profit for the fifth year in a row, boosted by strong results in all regions.
Boots Acquired by Canada’s Weston Family for $8.9 Billion
The Westons agreed on Wednesday to buy the UK's Boots from Sycamore Partners and the Pessina family, pledging to invest in the retailer's stores and online and expand healthcare services.
Vogue Arabia to Launch Annual Ball
The magazine’s inaugural ball will take place in November, the latest in a growing portfolio of live events hosted by publisher Condé Nast.
Lacoste Fired CEO Ahead of Paris Runway Show, Sources Say
The French tennis and lifestyle brand quietly fired its chief executive, Eric Vallat, shortly before the brand’s latest Paris fashion show, sources told Reuters.
Frasers Group Acquires 8.8% Stake in Under Armour
The move extends British company’s push into sports brands following a recent purchase of Puma stock.
US Luxury Spending Slows, Citi Data Shows
US credit card spending on luxury brands fell for a third consecutive month in September, according to data from Citi.