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.
H&M Sales Decline in Second Quarter
The fast fashion retailer saw net sales fall by 50 percent in the three months to May 31, despite an uptick in online sales.
Following Mass Layoffs, Diane von Furstenberg Faces an Uncertain Future
As the company refocuses its prospects on China amid the pandemic, more than 75 percent of the 400-person staff has been let go, while 18 out of 19 stores are closing. But the contemporary brand's business model was challenged long before Covid-19.
Michael Kors Is the Latest Brand to Depart from the Fashion Calendar
The American fashion giant will move to producing two collections per year, and will sell its clothes to retailers before it reveals its product to the public. It also will skip New York Fashion Week this September.
Reformation Founder and CEO Steps Down After Accusations of Racism
Yael Aflalo, who founded the womenswear brand in 2009, will be replaced by current president Hali Borenstein.
CVS Joins Walmart in Keeping Black Beauty Products out of Locked Cabinets
The practice drew criticism after a Walmart customer complained it was a discriminatory double-standard.
Lululemon Revenue Falls Below Analyst Forecasts
Despite a 70 percent surge in online sales, the activewear company's temporarily shuttered stores impacted its performance.
What Happened to Brooks Brothers
The inside story of how the brand that invented the American suit found itself filing for bankruptcy.
Unilever Opts for Single UK Base in Bid to Boost Dealmaking
Eliminating dual legal structures will result in one class of shares and a single pool of liquidity for the Dove soap maker.
Report: JD to Raise $3.9 Billion in Hong Kong Listing
The e-commerce company priced 133 million new shares at HK$226 each, according to people familiar with the matter, making it the second-largest listing this year after Beijing-Shanghai High Speed Railway.
EssilorLuxottica Remains Committed to $8 Billion GrandVision Deal
Despite recent deals falling apart, EssilorLuxottica is committed to its acquisition of Netherlands-based optical retailer GrandVision.
Guess to Close 100 Stores Worldwide Over Next 18 Months
The fashion retailer suspended rent payments in April and is now in negotiations with landlords.
Inditex Posts Quarterly Loss Following Store Closures
The Zara owner reported a net loss of $465 million despite a 95 percent increase in online sales in April.
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.