Michael Kors Owner Capri Soars After Raising Annual Forecasts
Shares jumped after the group raised its annual revenue and profit forecasts and said it expected sales to return to growth.
Retail
Analysis and advice from the front lines of the retail transformation.
New Look Is Said to Sign Over London Office Lease to Google
The value fashion brand had planned to occupy the building in the King’s Cross district this year and will now keep workers at their existing office in the West End, it told staff in a memo.
New Neiman Marcus CEO Faces Steep Challenge of Billions in Debt
Geoffroy van Raemdonck, who becomes chief executive officer next month, is taking over a retailer facing heavy losses, an industrywide traffic slowdown and nearly $5 billion in debt.
Shopping Malls May Be in Deeper Trouble Says New Report
As embattled retailers announce store closures at a record pace, some tenants are shrinking their footprints more quietly by choosing not to renew expiring leases, according to a new report.
UK Consumer Pullback Sees Worst Year for Spending Since 2012
According to Visa’s UK consumer spending index, shoppers curbed their spending for the first time in five years in 2017 as surging inflation and falling real wages took their toll on high street retailers.
Neiman Marcus Names Geoffroy van Raemdonck Chief Executive
The Ralph Lauren executive replaces Karen Katz, chief executive of the luxury department store group for the last seven years.
Marc Jacobs to Close London Store and Other European Outposts
As other luxury brands scale up their direct-to-consumer channels, the struggling LVMH-owned fashion house will significantly shrink its European retail presence.
British Retailers' December Sales Fall for Fifth Year Running
A survey by accountancy and business advisory firm BDO showed a 2.3 percent fall in like-for-like high street sales in December, adding to evidence consumers are tightening their belts.
Another Retail Bankruptcy Wave Is on the Way, Credit Suisse Says
The retail business’s “large and undeniable transformation” will crimp rents and vacancy rates this year.
Victoria’s Secret Owner Drops on Disappointing Holiday Sales
L Brands reported disappointing same-store sales for December, renewing concerns about its turnaround efforts, which have been hampered by shifting consumer preferences and falling foot traffic at stores.
Op-Ed | Even Macy's and JC Penney Enjoy a Rising Retail Tide
NEW YORK, United States — Call it a Christmas miracle. Macy's Inc. and J.C. Penney Co. Inc. — two troubled department-store chains that have been
Macy's to Close Stores and Cut Jobs
Despite a rise in Holiday same-store sales, the company said it would close 11 stores, cut jobs and further streamline non-store functions to save about $300 million in costs in 2018.
Op-Ed | What Gap and J. Crew Can Learn From the Grocery Aisle
The giants of the packaged-food sector are adding new concepts to their stables to adapt to today's shoppers — and specialty apparel chains could benefit from the same approach.
THE NEWS IN BRIEF
Uniqlo Scraps Price Rise on $2 Socks After Japanese Shopper Outcry
The decision underscores the challenge Japanese retailers face as persistent inflation squeezes household budgets.
Aritzia Seeks to More Than Double Sales by 2032
New categories and brick-and-mortar expansion beyond North America are set to drive Aritzia’s quest to hit $10.5 billion CAD ($7.5 billion).
Pop Mart Quarterly Sales Fall Up to 50% as Labubu Fad Cools
Sales in the Americas fell 70 to 75 percent.
Mike Ashley’s Frasers Says It’s Taken Control of Hugo Boss
The British retail group has pushed its stake in the German apparel brand above 50 percent in a move that will turn Hugo Boss into a subsidiary of Frasers.
Shein Agrees to Pay $100 Million to Settle US FTC Probe
The settlement, equivalent to 44 percent of the ultra fast-fashion company’s second-quarter profit, is the latest blow amid regulatory and tax crackdowns in Europe and the US that have hampered Shein’s growth.
UK Retail Sales Fall 0.4% in September, More Than Forecast
Sales fell in September as above-average temperatures hit demand for autumn clothing.
David’s Bridal Plans Spinoff and IPO of AI Wedding Planning Platform Pearl
Pearl, a subsidiary of David’s Bridal, will own David’s Bridal and license its intellectual property back to the bridalwear brand. David’s Bridal CEO Kelly Cook will serve as Pearl’s CEO.