Asos Announces Law Roach as Stylist in Residence
Online fashion retailer Asos has brought on celebrity stylist Law Roach to bring his creative lens and styling approach to its campaigns and recently relaunched magazine.
earnings
Retail
Superdry Expects Little Revenue Growth After Reporting Annual Loss
“This has been a difficult year for the business and the market conditions have been extremely challenging, especially in wholesale,” founder and CEO Julian Dunkerton said in a statement.
Superdry Expects Little Revenue Growth After Reporting Annual Loss
“This has been a difficult year for the business and the market conditions have been extremely challenging, especially in wholesale,” founder and CEO Julian Dunkerton said in a statement.
Retail
Lululemon Raises Sales Forecast for Second Time on Buoyant Demand
The company now expects full-year 2023 revenue between $9.51 billion and $9.570 billion, compared with its prior estimate of $9.44 billion to $9.51 billion.
Lululemon Raises Sales Forecast for Second Time on Buoyant Demand
The company now expects full-year 2023 revenue between $9.51 billion and $9.570 billion, compared with its prior estimate of $9.44 billion to $9.51 billion.
Financial Markets
US Consumer Spending Accelerates; Declining Savings a Red Flag
Consumer spending increased just 0.8 percent last month as the labour market cools.
US Consumer Spending Accelerates; Declining Savings a Red Flag
Consumer spending increased just 0.8 percent last month as the labour market cools.
Global Markets
Hong Kong July Retail Sales up 16.5%, Boosted by Tourism Revival
Sales increased to HK$33 billion ($4.21 billion). That compared with a revised 19.5 percent rise in June and 18.5 percent growth in May.
Hong Kong July Retail Sales up 16.5%, Boosted by Tourism Revival
Sales increased to HK$33 billion ($4.21 billion). That compared with a revised 19.5 percent rise in June and 18.5 percent growth in May.
Financial Markets
US Economic Growth Trimmed But Retains Underlying Momentum
The US economy grew at a slightly less brisk pace than initially thought in the second quarter as businesses liquidated inventory, but momentum appears to have picked up early this quarter as a tight labour market underpins consumer spending.
US Economic Growth Trimmed But Retains Underlying Momentum
The US economy grew at a slightly less brisk pace than initially thought in the second quarter as businesses liquidated inventory, but momentum appears to have picked up early this quarter as a tight labour market underpins consumer spending.
Beauty
J&J Lowers Annual Profit Outlook After Kenvue Separation
Johnson & Johnson cut its guidance for 2023 adjusted profit after separating the Kenvue Inc. consumer health company.
J&J Lowers Annual Profit Outlook After Kenvue Separation
Johnson & Johnson cut its guidance for 2023 adjusted profit after separating the Kenvue Inc. consumer health company.
Luxury
Brunello Cucinelli Lifts Full Year Sales Guidance Once Again
Italian luxury group Brunello Cucinelli nudged up its 2023 sales guidance, the third increase this year, after posting a 31.9 percent jump in net profit for the first half of the year.
Brunello Cucinelli Lifts Full Year Sales Guidance Once Again
Italian luxury group Brunello Cucinelli nudged up its 2023 sales guidance, the third increase this year, after posting a 31.9 percent jump in net profit for the first half of the year.
Retail
Temu-Owner PDD Soars After Strong Sales Defy Chinese Gloom
PDD Holdings Inc. revenue rose a stronger-than-expected 66 percent after the company behind hit shopping app Temu spent to boost growth at home and abroad to counter a bumpy post-pandemic recovery.
Temu-Owner PDD Soars After Strong Sales Defy Chinese Gloom
PDD Holdings Inc. revenue rose a stronger-than-expected 66 percent after the company behind hit shopping app Temu spent to boost growth at home and abroad to counter a bumpy post-pandemic recovery.
Retail
Retail’s Two-Track Approach to the Holiday Shopping Season
The end of back-to-school season puts the focus on all-important holiday sales. Mixed signals on consumer spending make forecasters’ jobs even more complicated than usual. That, plus what else to watch for in the coming week.
Retail’s Two-Track Approach to the Holiday Shopping Season
The end of back-to-school season puts the focus on all-important holiday sales. Mixed signals on consumer spending make forecasters’ jobs even more complicated than usual. That, plus what else to watch for in the coming week.
Beauty
Ulta Beauty Rides on Resilient Cosmetics Demand to Post Beat-and-Raise Quarter
Ulta Beauty on Thursday raised its annual earnings and revenue forecast, bolstered by resilient demand for its premium cosmetics and fragrances despite a broader decline in discretionary spending, and posted a better-than-expected quarterly profit.
Ulta Beauty Rides on Resilient Cosmetics Demand to Post Beat-and-Raise Quarter
Ulta Beauty on Thursday raised its annual earnings and revenue forecast, bolstered by resilient demand for its premium cosmetics and fragrances despite a broader decline in discretionary spending, and posted a better-than-expected quarterly profit.
Retail
Gap Eyes Weak Third-Quarter Sales as Consumer Spending Weakens
Gap Inc. on Thursday forecast a steeper-than-expected decline in current-quarter sales after missing expectations in the second quarter, hit by slowing demand for its accessories and apparel as budget-strained American customers cut back on spending.
Gap Eyes Weak Third-Quarter Sales as Consumer Spending Weakens
Gap Inc. on Thursday forecast a steeper-than-expected decline in current-quarter sales after missing expectations in the second quarter, hit by slowing demand for its accessories and apparel as budget-strained American customers cut back on spending.
Beauty
Bath & Body Works Sees Steeper Sales Drop on Slowing Demand
Bath & Body Works on Wednesday warned of a steeper decline in annual sales as Americans deferred purchasing its pricier home fragrances and personal care products amid still-high inflation pinching household budgets.
Bath & Body Works Sees Steeper Sales Drop on Slowing Demand
Bath & Body Works on Wednesday warned of a steeper decline in annual sales as Americans deferred purchasing its pricier home fragrances and personal care products amid still-high inflation pinching household budgets.
The News in Brief
Boohoo’s New Chairman Stirs Controversy as Broker Drops Coverage
The online clothing retailer, which rebranded as Debenhams Group last year, said Friday that Iain McDonald had taken over from Tim Morris with immediate effect in a move aimed at ‘rebuilding equity value.’
Luxury Perfume Line Roja London Acquired by Extravaganza Beauty
Master perfumer and founder Roja Dove will remain with the brand in a new consultancy role.
UK Retail Sales Bounce Back With 0.5% Gain in August
Warm weather and a brighter national mood helped lift spending on clothing and household goods despite rising energy bills.
EssilorLuxottica Gets Rare Sell Call Amid Stock Slump, AI Glasses Concerns
Shares in the eyewear giant, one of Europe's best-rated blue chips, have dropped 55 percent since November, while concerns are mounting over slowing growth and privacy issues for its AI glasses with Meta.
Olaplex Names New CEO
Christoph Kaul will succeed Amanda Baldwin, who led the hair care label through its acquisition by Henkel earlier this year.
Perelel Expands C-Suite, Tapping Rare Beauty’s CMO
Known for its prenatal vitamins, the wellness label has hired Rare Beauty's Ashley Murphy as its chief marketing officer, while Anjelika Temple moves into the chief creative officer role.
Swiss Watch Exports Grow for Fourth Month, Overcoming US Slump
Exports in August were buoyed by China and Japan, despite a sharp decline in shipments to the US.