Frasers Group Acquires 8.8% Stake in Under Armour
The move extends British company’s push into sports brands following a recent purchase of Puma stock.
Retail
Analysis and advice from the front lines of the retail transformation.
Laura Ashley Files for Administration as Coronavirus Hits
The outbreak had an immediate impact on the already-struggling UK retailer, sending shares down more than 64 percent.
Nike's Sales Expected to Drop $3.5 Billion
The sportswear giant’s revenue could fall by a third in the fourth quarter due to store closures, supply chain disruptions and the NBA suspension caused by the coronavirus pandemic.
H&M Group Reports Dramatic Sales Decline in China as It Closes More Stores in Europe
The fast fashion giant is grappling with a significant business slowdown in China and has temporarily shuttered stores in Italy, France and Spain, as governments act to contain the spread of Covid-19.
Fashion on Lockdown: What's Closed, What's Cancelled
BoF is keeping tabs on the cancellations and closures sweeping the industry as brands, retailers and event producers grapple with how to manage the Covid-19 pandemic.
Fashion's New Normal: Quarantines and Empty Stores
This week, Covid-19 is almost certain to dominate discussion and headlines again. Get your BoF Professional Cheat Sheet.
Patagonia Is Closing Its Doors for at Least Two Weeks
The outdoor apparel retailer said offices and stores — and even its website — will be closed in order to protect employees and customers from the coronavirus. Will others follow suit?
Gap Sees 2020 Profit Above Estimates
Despite beating market expectations, the American retailer flagged a $100 million sales hit in Asia and Europe from the coronavirus.
Ulta's Fourth-Quarter Sales Beat Estimates
The cosmetics company's net income rose to $222.7 million as shoppers spent more at its stores during the holiday season.
Why Neiman Marcus Is Getting Rid of Its Off-Price Stores
The Dallas-based department store chain is hoping that focusing on wealthy repeat customers will boost profits.
Danielle Bernstein Made Macy’s Millions in Just a Day — Will the Magic Last?
The influencer’s new brand for the department store chain did over $2.5 million in sales in its first day, the retailer told BoF. It’s a good sign for Macy’s, which needs to attract younger customers, and Bernstein, who wants to expand beyond contemporary and into the mass market.
UK Government Scraps Business Rates for Small Companies
The taxes, charged on most commercial properties in the UK, have long burdened brick-and-mortar retailers amid an ailing high street economy and the rise of online competitors.
Adidas and Puma Forecast Sales Decline in China Amid Coronavirus Outbreak
Shares in Adidas and Puma, already pummelled in the last few weeks, declined 6 percent and 4.4 percent respectively.
THE NEWS IN BRIEF
Asos Customers Receive ‘Hack’ Notification Threatening Leak
The retailer is investigating after users of its mobile app received a notification claiming hackers had ‘fully compromised’ company data.
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.
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.