Inditex’s Primark Competitor Lefties Lands in the UK
The low-cost clothing brand opened its first UK store in Liverpool on Thursday, with shops in Newcastle and Essex due to follow later this year.
earnings
Luxury
Victoria Beckham Losses Shrink as Sales Soar 50% at Fashion Brand
The fashion and beauty business reduced losses to £200,000 with a 52 percent sales surge to £89 million last year, driven by online growth and expansion into new product areas.
Victoria Beckham Losses Shrink as Sales Soar 50% at Fashion Brand
The fashion and beauty business reduced losses to £200,000 with a 52 percent sales surge to £89 million last year, driven by online growth and expansion into new product areas.
Retail
Abercrombie Sales Beat Underwhelms After Big Run-Up in Stock
The company surpassed analysts’ sales expectations for the sixth straight quarter, with a notable 18 percent rise in comparable sales driven by Hollister, though gross margins fell slightly short.
Abercrombie Sales Beat Underwhelms After Big Run-Up in Stock
The company surpassed analysts’ sales expectations for the sixth straight quarter, with a notable 18 percent rise in comparable sales driven by Hollister, though gross margins fell slightly short.
Beauty
Milk Makeup Owner Waldencast Reports 25.7% Q2 Growth
Both TikTok virality and dermatologists both helped boost Waldencast’s growth in the second quarter of 2024.
Milk Makeup Owner Waldencast Reports 25.7% Q2 Growth
Both TikTok virality and dermatologists both helped boost Waldencast’s growth in the second quarter of 2024.
Retail
PVH Corp. Reports 6 Percent Sales Drop, Driven By Weak International Segment
The owner of Tommy Hilfiger and Calvin Klein saw a modest increase in North America sales for its two major brands
PVH Corp. Reports 6 Percent Sales Drop, Driven By Weak International Segment
The owner of Tommy Hilfiger and Calvin Klein saw a modest increase in North America sales for its two major brands
Retail
Nordstrom Q2 Revenue Rises on Boost From Sales Event, Shares Surge
The upmarket department store chain also slightly revised its annual comparable sales forecast, raising the lower end to a range of flat to 2 percent growth.
Nordstrom Q2 Revenue Rises on Boost From Sales Event, Shares Surge
The upmarket department store chain also slightly revised its annual comparable sales forecast, raising the lower end to a range of flat to 2 percent growth.
Luxury
Lanvin Group Posts 20% Drop in Sales Amid Luxury Slowdown
The Lanvin and Sergio Rossi owner expects the year to remain challenging but is betting on a creative overhaul to reignite sales growth at the company.
Lanvin Group Posts 20% Drop in Sales Amid Luxury Slowdown
The Lanvin and Sergio Rossi owner expects the year to remain challenging but is betting on a creative overhaul to reignite sales growth at the company.
Retail
Temu Owner PDD Plunges 18% After Revenue, Outlook Disappoint
The company reported second-quarter revenue of 97.1 billion yuan, below estimates, and highlighted intensified competition and potential profitability challenges.
Temu Owner PDD Plunges 18% After Revenue, Outlook Disappoint
The company reported second-quarter revenue of 97.1 billion yuan, below estimates, and highlighted intensified competition and potential profitability challenges.
Retail
This Week: Retail Earnings Get Messy
Gap, Abercrombie, Lululemon and others report results this week, amid growing concerns about a pullback in consumer spending.
This Week: Retail Earnings Get Messy
Gap, Abercrombie, Lululemon and others report results this week, amid growing concerns about a pullback in consumer spending.
Retail
Urban Outfitters Shares Sink on Disappointing Sales Growth
The company’s shares dropped up to 12 percent in premarket trading after reporting quarterly sales growth that fell short of Wall Street’s expectations.
Urban Outfitters Shares Sink on Disappointing Sales Growth
The company’s shares dropped up to 12 percent in premarket trading after reporting quarterly sales growth that fell short of Wall Street’s expectations.
Retail
TJ Maxx Parent Raises Annual Profit Forecast After Strong Second Quarter
Over the past six quarters, TJX has kept prices low to attract shoppers who are worried about spending in an inflationary environment.
TJ Maxx Parent Raises Annual Profit Forecast After Strong Second Quarter
Over the past six quarters, TJX has kept prices low to attract shoppers who are worried about spending in an inflationary environment.
Retail
Macy’s Tempers Annual Revenue View on Weak Demand for Pricier Goods
Undermining cost-saving efforts under new CEO Tony Spring, Macy’s has been forced to offer more discounts in some categories to attract lower and middle-income consumers struggling with high borrowing costs.
Macy’s Tempers Annual Revenue View on Weak Demand for Pricier Goods
Undermining cost-saving efforts under new CEO Tony Spring, Macy’s has been forced to offer more discounts in some categories to attract lower and middle-income consumers struggling with high borrowing costs.
Beauty
Coty Misses Revenue Estimates on Cautious Retail Orders, Lacoste License Sale
Coty’s fourth-quarter net revenue rose nearly 1 percent to $1.36 billion, missing LSEG estimates of $1.38 billion.
Coty Misses Revenue Estimates on Cautious Retail Orders, Lacoste License Sale
Coty’s fourth-quarter net revenue rose nearly 1 percent to $1.36 billion, missing LSEG estimates of $1.38 billion.
The News in Brief
David Pemsel to Step Down as British Fashion Council Chairman
The UK fashion trade body has yet to name a successor.
Samsung Ordered to Pay Swatch $11.6 Million Over Copied Smartwatch Apps
The Swiss watchmaker initially sought about $170 million from the Korean technology giant for failing to prevent apps that mimicked its luxury brands on its smartwatch displays.
Kohl’s Turnaround Stalls as Sales Growth Stagnates
Kohl’s turnaround attempt showed some progress after the retailer raised its annual earnings outlook, but it still doesn’t see sales growth this year.
Abercrombie Sees Record Shares Jump After Guidance Lift
Abercrombie & Fitch Co. shares rallied after revenue topped estimates and the retailer raised its annual earnings guidance, suggesting the preppy apparel company is regaining momentum.
Dolce & Gabbana Seeks to Raise Cash in Exchange for Debt Waiver
Dolce & Gabbana is seeking to raise cash using transactions outside the Italian fashion house’s day-to-day business after banks agreed to waive terms governing its debt as demand for luxury goods stays weak.
Mexican Makeup Label Sarelly Raises $3 Million
The funding will be used to power the brand’s expansion into the US, including a nationwide rollout in Target’s Beauty Studio.
Bath & Body Works Lifts Annual Profit Forecast on Digital Demand
The US fragrance giant raised its full-year profit forecast and beat estimates for second-quarter results, benefiting from demand for its products on digital channels, despite a decline in store traffic.