Zara Billionaire Owner Ortega Buys $550 Million Chicago Tower
Pontegadea Inversiones SL acquired the 51-story One North Wacker in the city’s business district in one of the biggest US office deals this year.
Retail
Analysis and advice from the front lines of the retail transformation.
National Retail Group Speaks On China Tariffs
The US National Retail Federation said on Friday it is 'unrealistic' for American retailers to move out of China.
Department Stores Bring Down Retail Results
J.C. Penney Co., Macy’s Inc. and Kohl’s Corp. all reported declines in revenue from a year earlier.
Dick’s Sporting Goods Shares See Biggest Jump Since 2018
The athletic and outdoor retailer expects full-year earnings of $3.30 to $3.45 a share, higher than its previous projection and analyst expectations.
Victoria’s Secret Considers a Change in Marketing
L Brands' admission that Victoria’s Secret needs change marks a key shift for a company that hasn’t much strayed from its push-up-bra aesthetic, despite consumer values moving towards themes such as female empowerment and body positivity.
Laura Ashley Posts £10 Million Loss as Furniture Sales Sag
The clothing and furnishing retailer swung to an almost £10 million pretax loss for the year, hit by poor performance of its home furnishings business and a fall in online sales.
Victoria's Secret Slumps Again as Bath & Body Works Keeps Growing
L Brands' profit beat estimates in the latest quarter but Victoria’s Secret continues to struggle amid shifting consumer demands and the group's ties to disgraced financier Jeffrey Epstein.
Hit by Tariffs and Discounting, Kohl's Cuts Profit Margin Forecast
With the cost of more aggressive promotions and a potential hit from new tariffs on Chinese imports, the department store chain has forecast a steeper decline in full-year profit margin despite better-than-expected quarterly earnings.
TJX Same-Store Sales Miss Estimates as Competition Stiffens
With traditional retailers such as Macy's and Nordstrom foraying into discounts, off-price stores like T.J. Maxx and Burlington Stores are struggling to boost sales.
Worried About Tariffs and a Recession? It's Not Time to Panic. Yet.
Investors are worried about a toxic mix of problems, from upcoming tariffs on Chinese imports to a potential recession. Analysts see these fears as premature — especially if retailers take the right steps to protect themselves.
Hudson’s Bay Soars After Private Equity Firm Catalyst Buys Stake
Catalyst’s purchase of a minority stake adds to pressure on Chairman Richard Baker to boost his bid, which also faces opposition from activist investor Jonathan Litt.
Amazon Tests ‘Top Brand’ Label for Some Big-Name Fashion Sellers
The move could ease tensions between the online retail giant and big-name companies used to favourable positioning at brick-and-mortar retailers.
Next to Replace Debenhams as Ted Baker's Kidswear License Partner
Debenhams will remain the fashion brand's license partner for lingerie and nightwear.
THE NEWS IN BRIEF
Joe Corré’s Light House Club Launches Pop-Up Spaces for Emerging Designers
Independent creatives can apply to utilise pop-up spaces at Light House to sell merchandise and meet with clientele.
Shein Outsells British Rival Asos as UK Revenue Hits $3.41 Billion
The ultra-fast fashion company said sales had been bolstered by marketing partnerships with music festivals, a pop-up shop on London’s Oxford Street and local Christmas gift events.
Gap to Use Athleta Leader’s Exit to Rebuild Slumping Brand
The departure of Athleta’s CEO for Lululemon is a chance to ‘reimagine the brand’s path forward,’ Gap Inc. CEO Richard Dickson wrote in an internal memo viewed by Bloomberg.
Harvey Nichols’ Birmingham Store Will Close in January
The department store’s Leeds and Bristol outlets will be converted to the Flannels brand in a shake-up under Mike Ashley’s Frasers Group, which purchased the chain when it was put into administration in mid-August.
Lululemon Hires Athleta Head in Management Shakeup
Maggie Gauger is joining Lululemon as chief product officer as new CEO Heidi O’Neill looks to revive sales.
Levi’s Growth Slows After Marketing Misstep
The company lost out in its third quarter because of a decision to market baggy jeans over low rise, but still raised its sales outlook for the year.
Fast Retailing Annual Profit Jumps 32%, Beats Expectations
The Uniqlo owner hit a new record annual profit for the fifth year in a row, boosted by strong results in all regions.