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.
The Holiday Season Is Already Looking Grim
Disrupted supply chains and high unemployment do not bode well for the all-important Christmas shopping period.
Victoria’s Secret Owner and Sycamore Cancel Deal
The agreement brings an abrupt end to one of the highest-profile deals this year in the retail world and charts an uncertain path for a storied American brand.
J.C. Penney Sues to Block Sephora From Closing In-Store Boutiques
Sephora has complained about boutique employees being furloughed during the pandemic and is demanding that all hard surfaces be cleaned with a special electrostatic spray.
J.Crew Says Bankruptcy Is the Reset it Needs. But There Actually Has to Be a Reset.
Just because consumers love the brand doesn't mean they want to buy the clothes.
Lenders Offer Breathing Room for UK Stores
Struggling retailers are unlikely to see much demand once lockdowns are lifted.
J. Crew Files for Chapter 11, Becoming US Fashion's First Major Pandemic Casualty
The preppy American brand is unlikely to be the last retailer to seek bankruptcy protection in the wake of the Covid-19 crisis.
How to Go From Wholesale to Direct-To-Consumer
For apparel labels reliant on multi-brand retailers for sales, developing a direct business has never been more important. But how can you go DTC in the middle of the pandemic? Here’s BoF’s guide to pivoting online during a time – and cash – crunch.
The Big Keep Getting Bigger in the Pandemic-Rearranged Economy
Antitrust experts fear that as the largest companies increase market shares, decimated firms might disappear or have little choice but to sell out at fire-sale prices — and that lawmakers will be under pressure not to stand in the way as the economy struggles to recover.
America’s Retailers Return to Lure Virus-Weary Shoppers to Malls
States including Texas, Georgia and South Carolina are allowing stores to resume business. But no one knows if shoppers will even want to come back — much less spend money on clothing.
Gap Inc. Lays Off 10% of Its Corporate Workforce
The cuts include jobs at Gap, Old Navy and Banana Republic, as the American retail giant scrambles to weather the crisis of Covid-19.
Brooks Brothers Looks for a Buyer as Wall Street Works From Home
Even though its affluent clientele has little need for new suits at the moment, the brand’s history and cachet have elicited interest.
Jeff Bezos Called to Testify Before House Panel on Amazon Private Label Products
Independent merchants have long complained that the company’s AmazonBasics line copies popular products that they sell.
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.