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.
L Brands Sells Majority Stake in Victoria's Secret's UK Business
Under a newly formed joint venture, British clothing retailer Next Plc will acquire a majority stake in the lingerie giant.
Pandemic May Permanently Replace Retail Jobs With Machines
A new study shows layoffs have been higher among workers in industries that can be automated, which increases the risk those jobs will become permanently obsolete.
Amazon Set To Hire 100,000 More Workers Amid Rise in Online Shopping
The news marks the e-commerce giant's fourth hiring spree this year after reporting a 40 percent revenue rise last quarter and the biggest profit in the retailer's 26-year-history.
Will This Time Be Different for Neiman Marcus and J.C. Penney?
This week, everyone will be talking about fashion weeks in New York and London, the post-bankruptcy futures of Neiman Marcus and J.C. Penney, and sales updates from the owners of Zara and H&M. Get your BoF Professional Cheat Sheet.
J.C. Penney Posts Steep Sales Decline for Second Quarter
The American retailer reported sales of $1.39 billion in the period ended August 1, down from $2.51 billion a year earlier.
Amidst Tumult, Everlane Raises $85 Million
The direct-to-consumer brand known for its promise of radical transparency has come under fire this year, but a new cash infusion led by LVMH-linked L Catterton is a stabilising endorsement.
J.C. Penney Nears Rescue Deal with Simon Property Group and Brookfield
If the deal falls apart, J.C. Penney would be on course for liquidation.
American Eagle Posts Smaller Than Expected Loss as Loungewear Demand Surges
The US-based retailer's total revenue fell 15 percent to $883.5 million in the three months ended August 1, beating expectations of $847.8 million.
New Look Faces Administration Risk If Restructuring Blocked
The UK retailer has asked landlords to agree new turnover-based leases at 402 stores to help get it through the crisis.
Under Armour to Lay Off 600 Employees Globally
The sportswear maker expects to incur $235 million in charges, including up to $135 million for contract termination.
How to Win the Pandemic's Activewear Boom
Workout clothes have been a bright spot in the struggling apparel sector this year, but independent brands need to play smart to turn the current bump into long-term success.
Retail Reborn: A New Podcast Series Investigating the Future of Retail
In an exclusive new series, Doug Stephens and BoF investigate the seismic shifts transforming the retail ecosystem. From the post-pandemic consumer psyche to increased risk and growing calls for responsibility, we identify the new fundamentals of a reborn retail industry.
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.