Shein Discloses FTC Probe in US, Warns of Significant Payments
According to documents the ultra-fast-fashion company filed in connection with its planned Hong Kong IPO, Shein is cooperating with the investigation and could face significant fines.
business-slowdown
News & Analysis
Ralph Lauren to Cut Jobs, Shops and Real Estate
Ralph Lauren Corp said it would cut jobs, close stores and reduce its real estate as part of a sweeping plan to lower costs and revive sales growth.
Ralph Lauren to Cut Jobs, Shops and Real Estate
Ralph Lauren Corp said it would cut jobs, close stores and reduce its real estate as part of a sweeping plan to lower costs and revive sales growth.
News & Analysis
Burberry CEO Gets 75 Percent Pay Cut Amid Struggle for Growth
Christopher Bailey’s remuneration fell to £1.9 million in the year through March from £7.5 million a year earlier.
Burberry CEO Gets 75 Percent Pay Cut Amid Struggle for Growth
Christopher Bailey’s remuneration fell to £1.9 million in the year through March from £7.5 million a year earlier.
Retail
Gap Says Key Sales Measure Slides 6 Percent in May
Gap says sales at established stores fell 6 percent in May. That was better than the 7 percent decline forecast by Thomson Reuters.
Gap Says Key Sales Measure Slides 6 Percent in May
Gap says sales at established stores fell 6 percent in May. That was better than the 7 percent decline forecast by Thomson Reuters.
Financial Markets
Zumiez Reports 1Q Loss
Zumiez Inc. has reported a fiscal first-quarter loss of $2.1 million, after reporting a profit in the same period a year earlier.
Zumiez Reports 1Q Loss
Zumiez Inc. has reported a fiscal first-quarter loss of $2.1 million, after reporting a profit in the same period a year earlier.
News & Analysis
Under Armour Cuts Outlook, Cites Sports Authority Closing
Under Armour is cutting its full-year revenue guidance, saying that the closure of Sports Authority stores will hurt its sales.
Under Armour Cuts Outlook, Cites Sports Authority Closing
Under Armour is cutting its full-year revenue guidance, saying that the closure of Sports Authority stores will hurt its sales.
News & Analysis
UK Fashion Retailer Austin Reed to Wind Down
British fashion retailer Austin Reed Ltd will start winding down as no viable offer was received for the company over a five-week sale process, its joint administrators has announced.
UK Fashion Retailer Austin Reed to Wind Down
British fashion retailer Austin Reed Ltd will start winding down as no viable offer was received for the company over a five-week sale process, its joint administrators has announced.
News & Analysis
Tiffany's 'Old-World Luxury' Fails to Charm Millennials
Tiffany's jewellery, long considered a status symbol and synonymous with weddings and anniversaries, is failing to charm millennials.
Tiffany's 'Old-World Luxury' Fails to Charm Millennials
Tiffany's jewellery, long considered a status symbol and synonymous with weddings and anniversaries, is failing to charm millennials.
Retail
Gap to Close 75 Old Navy, Banana Republic Stores Outside North America
Gap Inc said it would shut 75 Old Navy and Banana Republic stores overseas markets, as the struggling apparel retailer focuses on its North American market to revive its fortunes.
Gap to Close 75 Old Navy, Banana Republic Stores Outside North America
Gap Inc said it would shut 75 Old Navy and Banana Republic stores overseas markets, as the struggling apparel retailer focuses on its North American market to revive its fortunes.
Retail
Middle East Luxury Sales Fading as Oil Falls and Tourism Slows
Falling crude prices have crimped the spending power of luxury-goods consumers in the Middle East, while a weak ruble means fewer free-spending Russians have visited the region.
Middle East Luxury Sales Fading as Oil Falls and Tourism Slows
Falling crude prices have crimped the spending power of luxury-goods consumers in the Middle East, while a weak ruble means fewer free-spending Russians have visited the region.
The News in Brief
Frasers Group Takes a Position in Burberry
The billionaire Mike Ashley’s investment arm disclosed Tuesday it holds an interest worth a potential 4.2 percent of the voting rights in Burberry.
EssilorLuxottica Beats Forecasts, AI Glasses and Myopia Products Drive Growth
The Franco-Italian eyewear maker reported a 15 percent rise in first-half profit, beating expectations, while revenue growth was driven by strong demand for AI-enabled glasses myopia products.
Whoop Names Kyle Leahy Chief Commercial Officer
Leahy joins the wearables brand from Glossier, where she was chief executive for three years.
Chinese Jeweller Laopu Gold’s Shares Drop on Growth Outlook
The jeweller lost $2.1 billion in market value after forecasting first-half 2026 revenue growth of up to 66 percent, a sharp slowdown from last year that unsettled investors in one of China’s most viral consumer brands.
Unilever Lifts Outlook on Strongest Volume Growth in Over A Decade
Unilever upgraded its annual forecast on Tuesday, as consumers reached for brands like Vaseline and Dove despite household budget concerns stemming from the Iran war.
J&J to Pay $5.5 Billion to Settle Talc-Related Cancer Claims
Johnson & Johnson on Monday said it agreed to a $5.5 billion commitment to resolve years of litigation related to claims that its talc products caused ovarian cancer.
Lenzing Closes UK, Austria Sites in Turnaround Bid
The closures are the latest in a series of cost-cutting and refinancing measures at the textile maker, which has faced headwinds from competition in China and India.