Shein Shares Sink to Record Low After Profit Plunge
The ultra-fast-fashion giant’s share price fell 12 percent after it reported a steep drop in first-half operating income in its inaugural earnings as a public company.
Retail
Analysis and advice from the front lines of the retail transformation.
Consumer Confidence in US Posts Biggest Gain in 17 Years
Even with the outsize improvement in September, Americans remain downbeat about the current state of the job market and the coronavirus.
Retail Reborn Episode 3: The Future of Digital Commerce
Doug Stephens speaks with innovators about the technologies and business models driving a new era of online retail — with guests including Shopify President Harley Finkelstein, Christina Fontana, head of Tmall’s fashion and luxury division in Europe and Neha Singh, founder of Obsess.
Target to Start Holiday Discounts in October
The retailer said it will expand Black Friday pricing for the whole of November, promising shoppers nearly 1 million more deals than last year.
New York Sees 40% Bankruptcy Surge, Braces for More
The pandemic could permanently close as many as a third of the city's 230,000 businesses.
Are Online Marketplaces the New Department Stores?
Brands are increasingly turning to platforms, from Farfetch to new entrants like Behold and The Yes, for the exposure multi-brand retailers used to provide.
Neiman Marcus Emerges from Bankruptcy
Its restructuring plan eliminated more than $4 billion of debt and $200 million of annual interest expense.
Sycamore Partners Bids for Ascena-Owned Ann Taylor
The retail group was struggling with dated brands and declining revenue even before the coronavirus crisis.
Boohoo Review Finds ‘Unacceptable Issues’ in Leicester Supply Chain
The review found that some workers had not always been properly compensated for their work and that many were not fully aware of their rights.
Amazon Wants You To Know What Products Are Sustainable
The e-commerce giant will start labelling products that meet select sustainability certifications on its US website, joining a growing list of companies seeking to target conscious consumers.
Shopify Says ‘Rogue’ Employees Stole Data From Merchants
Two employees stole data from more than 100 merchants, potentially exposing the personal information of consumers who shopped on web stores that use the company’s e-commerce software.
Brookfield Properties to Cut 20% of Employees in Retail Unit
The mall owner has been hit hard by the pandemic and lockdowns while consumers have embraced e-commerce.
Nike Smashes Sales Estimates Thanks to Rebound in China
Sales in China rose 6 percent while in North America, the company's biggest market, sales fell 2 percent.
THE NEWS IN BRIEF
H&M Profit Rises on Tariff Refunds as Sales Remain Sluggish
US tariff refunds drove an increase operating profit, even as the fast-fashion retailer has struggled to deliver consistent sales growth.
Asos Names Law Roach ‘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.
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.’
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.
Authentic Brands Targets Creator Economy, Eyes Public Offering
The licensor could pursue an IPO as early as the first half of next year.
JD Sports Names New North America CEO, Chief Marketing Officer
The sneaker retailer is shaking up its North American leadership as it looks to reverse soft sales and an extended slump in the stock market.
Top Africa Clothes Retailer Pepkor Sinks on Earnings Outlook
Shares in the South African discount clothing retailer fell the most in more than three years, as an expansion into banking weighed on profit forecasts.