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News
Amazon Sued by FTC Over Claims It Misled Advertisers on Pricing
1+ week, 6+ day ago (100+ words) The US Federal Trade Commission and 22 US states sued Existing investors in the fast-fashion giant who participated in the offer include billionaire Michael Bloomberg's family office Willett Advisors, French billionaire entrepreneur and investor Xavier Niel and Microsoft Corp. The FTC…...
Abercrombie Sees Record Shares Jump After Guidance Lift
2+ week, 4+ day ago (119+ words) Shares rose as much as 33 Kohl’s turnaround attempt showed some progress after the retailer raised its annual earnings outlook, but it still doesn’t see sales growth this year. Abercrombie & Fitch Co. shares rallied after revenue topped estimates and the retailer…...
Shein’s IPO Won’t Mask Its Sustainability Challenges
2+ week, 5+ day ago (134+ words) Shein is finally going public, but in a far more hostile world than when the Chinese online retail giant’s IPO journey began five years ago. Skims’ hire of former Supreme executive Erin Magee and promotion of Yeezy alum Kim Schraub…...
Dick’s Sporting Goods Cuts Annual Forecasts as Demand Weakens
2+ week, 5+ day ago (148+ words) Dick’s Sporting Goods cut its full-year sales and profit forecasts on Tuesday, as pressured discretionary spending amid a cautious consumer environment weighed on demand for sporting goods and athletic apparel, sending its shares down 13 percent in premarket trading. Skims’ hire…...
Shein Sets IPO Date, Targets Up to $27 Billion Valuation
2+ week, 6+ day ago (142+ words) Shein is seeking to raise as much as HK$13.9 billion ($1.8 billion) in its Hong Kong initial public offering, as it enters the final stretch of an arduous journey to go public. Check out this week’s new partner and openings on…...
Luxury Sales Plunge in China as Tax Measures Hit Wealthy Shoppers
3+ week, 3+ day ago (122+ words) Global luxury brands are facing a deepening sales slump in China, as the country’s campaign to tax offshore wealth sends ripples from stock markets to casino floors and dampens spending by the country’s richest consumers. The US president chose an…...
JD Sports Cuts Outlook as Shoppers Curb Spending on Sneakers
3+ week, 3+ day ago (107+ words) JD Sports cut its profit outlook after weaker-than-expected sales of sneakers in the second quarter, as its customers grapple with cost-of-living pressures and pull back on discretionary spending. The retailer cut its profit outlook after weaker-than-expected sales in the quarter,…...
Coty Beats Quarterly Revenue, Calls Fiscal 2027 ‘Transition Year’ on Business Overhaul
3+ week, 4+ day ago (147+ words) The Business of Fashion Agenda-setting intelligence, analysis and advice for the global fashion community. Coty Beats Quarterly Revenue, Calls Fiscal 2027 âTransition Yearâ on Business Overhaul Opinion: The âTarget Runâ Is Making a Comeback New CEO Michael Fiddelkeâs…...