Shein’s Purchase of Everlane Faces US National Security Review
A review by an interagency panel led by the US Treasury Department began after the $80 million transaction was completed in May, according to the people familiar with the matter.
earnings
Retail
Nordstrom Bumps Up Annual Outlook, Sidestepping Retail Weakness
The Seattle-based department-store chain is forecasting that annual sales, including credit-card revenues, will be flat to up 1 percent versus last year.
Nordstrom Bumps Up Annual Outlook, Sidestepping Retail Weakness
The Seattle-based department-store chain is forecasting that annual sales, including credit-card revenues, will be flat to up 1 percent versus last year.
Global Markets
Africa’s Top Clothing Retailer Pepkor Rallies as It Plans Growth Push
Pepkor Holdings soared to a three-year high as it announced a dividend that exceeded expectations and outlined plans for up to 300 new stores.
Africa’s Top Clothing Retailer Pepkor Rallies as It Plans Growth Push
Pepkor Holdings soared to a three-year high as it announced a dividend that exceeded expectations and outlined plans for up to 300 new stores.
Retail
Abercrombie & Fitch Sales Fall Short of Wall Street Expectations
The retailer reported record net sales of $1.2 billion but saw its shares fall as growth fell short of investor expectations, despite raising its full-year outlook and strong same-store sales.
Abercrombie & Fitch Sales Fall Short of Wall Street Expectations
The retailer reported record net sales of $1.2 billion but saw its shares fall as growth fell short of investor expectations, despite raising its full-year outlook and strong same-store sales.
Retail
Mytheresa Reports Sales, Profit Growth in Latest Quarter
The German e-tailer’s consistent financial performance puts it in a solid position as it awaits regulatory approval of its merger with Yoox-Net-a-Porter.
Mytheresa Reports Sales, Profit Growth in Latest Quarter
The German e-tailer’s consistent financial performance puts it in a solid position as it awaits regulatory approval of its merger with Yoox-Net-a-Porter.
Beauty
Revolution Beauty Sales, Profits Slide in First-Half Results
The embattled British cosmetics company reported a 20 percent slide in revenue, but says turnaround efforts will start to pay off in the second half.
Revolution Beauty Sales, Profits Slide in First-Half Results
The embattled British cosmetics company reported a 20 percent slide in revenue, but says turnaround efforts will start to pay off in the second half.
Retail
JD’s Results Fail to Impress as Chinese Economic Fears Persist
The company’s revenue grew by 5.1 percent in Q3, reflecting cautious consumer spending in China as the government’s stimulus measures begin to take effect.
JD’s Results Fail to Impress as Chinese Economic Fears Persist
The company’s revenue grew by 5.1 percent in Q3, reflecting cautious consumer spending in China as the government’s stimulus measures begin to take effect.
Luxury
Burberry ‘Acting with Urgency to Course Correct’
The loss-making British megabrand is putting focus back on outerwear, adjusting pricing for bags and shoes and underscoring its heritage as part of a turnaround plan outlined by new chief executive Joshua Schulman on Thursday.
Burberry ‘Acting with Urgency to Course Correct’
The loss-making British megabrand is putting focus back on outerwear, adjusting pricing for bags and shoes and underscoring its heritage as part of a turnaround plan outlined by new chief executive Joshua Schulman on Thursday.
Retail
On Boosts Outlook on Record Sales for Sneaker Upstart
CEO Martin Hoffmann said the company, which sells $160 sneakers and $130 hoodies, isn’t planning on widespread discounts during the year-end holiday season.
On Boosts Outlook on Record Sales for Sneaker Upstart
CEO Martin Hoffmann said the company, which sells $160 sneakers and $130 hoodies, isn’t planning on widespread discounts during the year-end holiday season.
Retail
Shopify Surges After Third Quarter Revenue Beats Estimates
The company saw its stock jump nearly 14 percent after reporting stronger-than-expected third-quarter sales, signalling growing momentum as more consumers shift spending from brick-and-mortar stores to e-commerce.
Shopify Surges After Third Quarter Revenue Beats Estimates
The company saw its stock jump nearly 14 percent after reporting stronger-than-expected third-quarter sales, signalling growing momentum as more consumers shift spending from brick-and-mortar stores to e-commerce.
Luxury
This Week: Burberry Goes Back to Basics, Again
When times get tough, the British brand tends to lean more heavily on its heritage. A traditionalist makeover is expected to be announced alongside what are expected to be bleak earnings on Nov. 14.
This Week: Burberry Goes Back to Basics, Again
When times get tough, the British brand tends to lean more heavily on its heritage. A traditionalist makeover is expected to be announced alongside what are expected to be bleak earnings on Nov. 14.
Beauty
Kenvue’s Weak Sales Give Power to Activist Push
The company reported weaker-than-expected sales growth, primarily due to a slowdown in its skin health and beauty segment.
Kenvue’s Weak Sales Give Power to Activist Push
The company reported weaker-than-expected sales growth, primarily due to a slowdown in its skin health and beauty segment.
Luxury
Ralph Lauren Raises Outlook, Bucking Broader Luxury Slowdown
Ralph Lauren raised its annual revenue outlook to 3-4 percent, driven by strong sales in Europe, Asia, and robust growth in China, while forecasting a solid holiday season.
Ralph Lauren Raises Outlook, Bucking Broader Luxury Slowdown
Ralph Lauren raised its annual revenue outlook to 3-4 percent, driven by strong sales in Europe, Asia, and robust growth in China, while forecasting a solid holiday season.
The News in Brief
Shein Sets IPO Date, Targets Up to $27 Billion Valuation
The company is set to debut on the Hong Kong stock exchange on Sept. 1 and is seeking to raise as much as $1.8 billion in its long-awaited IPO, according to a filing.
Marquee Brands to Acquire Roots in Go-Private Deal
The brand management company will add the Canadian lifestyle label to a growing portfolio that includes Roberto Cavalli and BCBG.
UK Retail Sales Drop for the First Time in Three Months
Scorching weather and fewer discounts discouraged shoppers and ended a recent rebound in consumer spending as retail sales fell for the first time since April.
Fashion CEO Hunsicker Gets Five Years for $300 Million Fraud
Christine Hunsicker, founder of the fashion-rental and technology company CaaStle Inc., was sentenced to five years in prison for defrauding investors out of $300 million.
Boohoo Fined $2.7 Million by French Watchdog Over Deceptive Discounts
Nearly half of the examined promotions were revealed to be price increases. The Debenhams-owned fast-fashion brand also used terms like ‘leather’ to sell synthetic products.
Report: Shein Postpones IPO to September
Shein has pushed back its market debut following a delay in taking investor orders for its Hong Kong IPO at a reduced valuation, the South China Morning Post reported.
Lululemon Senior Executive Exits in Third Recent Departure
The top communications officer at the company is leaving, adding to the list of executives departing ahead of CEO Heidi O’Neill’s arrival.