EBay Will Lay Off 9% of Workforce
The online marketplace is looking to simplify operations and shift resources to its fastest-growing areas, Reuters reported.
Retail
Analysis and advice from the front lines of the retail transformation.
L.K. Bennett Finds Buyer for Most of UK Stores
The womenswear retailer said on Friday they had completed the sale of most of its UK stores and assets for an undisclosed sum.
Live Event Debrief: How to Get Your Customers to Pay Full Price
Listen to Imran Amed in conversation with BoF’s chief New York correspondent Lauren Sherman, as she outlines how fashion retailers can shake the industry’s addiction to discounting.
J.Crew Floats Potential Madewell IPO
The company also named an interim CEO from within the organisation.
Uniqlo Owner Fast Retailing Cuts Full-Year Outlook
For the full year through August, the retail group forecast an operating profit 10 billion yen below its previous estimate.
H&M Limits Free Deliveries for Low-Spending Loyalty Club Members
After seeing profits fall and inventory pile up, the world's second-biggest clothing retailer is investing heavily in adapting to changing consumer habits.
Selling with the Enemy: Why Rival Retailers Embrace Amazon.com
Major brands are opting to distribute clothing and accessories directly through Amazon.com, thanks to its advanced delivery network and more than 100 million Prime members.
Debenhams Set for Administration After Rejecting New Ashley Plan
Despite its long history, Debenhams has been battling for survival after a consumer shift online and to cheaper outlets destroyed 90 percent of its share value in the past year.
Mike Ashley Floats New Plan for Debenhams
The British retail mogul has made a fresh bid to stave off a looming debt restructuring at Debenhams that would wipe out his equity.
Target Raises Minimum Wage to $13 an Hour
The retailer is increasing its payroll costs and putting new pressure on rivals like Walmart to attract retail workers in a tight labour market.
Jumia Founder Rocket Internet Set to Found More Companies in 2019
Founder of Global Fashion Group and Jumia (potentially valued at over $1.6 billion in recent IPO), the German e-commerce investor plans to set up even more companies this year.
Hudson's Bay Profit Beats Estimates as Saks Fifth Avenue Sales Rise
Comparable sales at Saks rose almost 4 percent, while total comparable digital sales rose 8.7 percent in the quarter.
Superdry Shares Slump Following Founder's Return
The return of Julian Dunkerton sparked the exit of most of its board members, including top executives.
THE NEWS IN BRIEF
Vinted Faces Influx of Suspected Looted Goods After French Riots
The company has ‘taken immediate action to identify and remove listings linked to the looting,’ and has ‘stepped up monitoring of suspicious listings,’ a Vinted spokesperson said in a statement. ‘When our rules are breached, we act against the accounts involved, up to permanent bans.’
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.
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.