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.
Target's Online Sales Surge Eases Coronavirus Pain
Despite an online comparable sales jump of 141 percent, net profit fell 64.3 percent in the first quarter.
Marks & Spencer Outperforming Worst-Case Coronavirus Fears
The UK retailer reacted quickly to the pandemic, cancelling about £100 million ($122 million) of clothing and home orders and scrapping its 2019 dividend.
The Kooples Seeks Fresh Momentum With New Team
The brand emerged as part of a wave of contemporary French fashion brands in the wake of the last recession. Now it is eyeing growth in the aftermath of Covid-19 under a new management team, including recently appointed Artistic Director Tom Van Dorpe.
Kohl's Cuts Jennifer Lopez Brand and Other Women's Labels
Kohl's had been struggling in women's apparel even before the pandemic as consumers shifted to online shopping and fast-fashion brands.
Facebook Reboots Its Shop Feature
As more consumers turn to online shopping during the pandemic, the tech giant is hoping this time around it gains traction on the site.
Post-Lockdowns, Very Few People Are Venturing Into US Stores
In mid-May, foot traffic to shops was 92 percent below the same period a year ago, compared with a 95 percent falloff in the previous seven days.
French Connection Warns It Could Run out of Cash Within Months
The British retailer is holding talks with investors in a bid to secure new funding after the company said it has struggled to access government support schemes.
Nordstrom Closes Jeffrey Boutiques Amid Luxury Spending Slump
The department store operator said the decision would ensure it had the ‘right footprint’ of physical locations as it weathers the coronavirus pandemic.
Amazon’s French Warehouses to Reopen with 30% Staff
The the e-commerce giant temporarily shuttered its six fulfilment centres in France after a court ruling on April 16 restricted deliveries to essential items amid mounting concern over working conditions of warehouse staff.
J.C. Penney Post-Bankruptcy Plan Includes Closing 29% of Stores
The retailer, which recently filed for Chapter 11 bankruptcy, expects net sales of $7.5 billion with its smaller fleet of 604 stores.
Michael Jordan's First Air Jordan Sneakers Sold for Record $560,000 at Sotheby's
The auction coincided with the 35th anniversary of the Air Jordan brand.
Retailers to Reopen in Italy as Lockdown Eases Further
Shops, restaurants and hair salons are preparing to reopen in Italy on Monday, as the government takes a "calculated risk" to put the country back on its feet.
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.