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.
Can Fashion Trade Shows Survive the Pandemic?
With large in-person events facing an uncertain future due to changing coronavirus restrictions, trade shows have had to sharply adapt to serve their audiences. But with a changing format, will the business model have to change too?
J.C. Penney's Bankruptcy Attracts New Potential Bidders
The hedge funds that hold the retailer's loans would become co-owners of a business they never planned to run, in partnership with a third party that could include one of the potential buyers they’ve been wooing.
UK Retailers Increased Discounts and Promotions to Boost Sales
Average shop prices in August were 1.6 percent lower than a year before, compared with a fall of 1.3 percent in July.
The End of Need Supply and Totokaelo: ‘There Just Wasn’t a Model That Worked’
As yet another fashion retailer closes its doors, NSTO Chief Executive Chris Bossola breaks down the challenges facing the indie group and what they say about the state of the market.
Amazon Receives US Regulatory Approval to Start Drone Delivery Trials
The e-commerce giant joins Alphabet Inc.'s unit Wing and United Parcel Service Inc. in receiving approval for drone delivery, while other smaller companies are still seeking approval.
J.C. Penney Lenders Plan Takeover After Sales Talks Hit Impasse
The company will continue exploring outside bids, but the retailer’s advisers will now work with lenders to negotiate a debt-for-equity swap in the next 10 days.
Boohoo Shares Plunge After Suspending Business With Suppliers
Shares dropped as much as 17 percent in afternoon trading in London after the Guardian cited auditors’ findings that more than a dozen UK suppliers may be paying substandard wages.
Amazon Buys 1,800 Electric Vans in Latest Green Effort
Electric vehicles are a major piece of Amazon’s bid to become a net-zero carbon emitter by 2040, an ambitious goal for a company that historically had lagged behind its retail and technology peers on the environment.
Retailers Respond to Consumer Interest in Black-Owned Businesses
Many businesses report a continuous influx of offers from prospective stockists following on from Black Lives Matter protests in late May and early June.
US Consumer Spending Rebound Cools, Hinting at More Risk Ahead
The deceleration in spending — which accounts for about two-thirds of the national economy — marks a tempering in the economic recovery following two months of stronger gains.
Gap Reports Surprise Rise in Comparable Sales Fueled by Online Demand
Analysts had forecast a 20.97 percent fall in comparable sales, but the company reported a 13 percent rise.
Neiman Marcus Seeks $55 Million From Nemesis Marble Ridge
The retailer is seeking a temporary restraining order and compensation for alleged damages caused by the firm after Marble Ridge’s money manager Dan Kamensky was accused of trying to manipulate the bidding process in its bankruptcy case.
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.