Apparel Retail
Nearly all Us residents slice back again on paying out owing to inflation, CNBC study finds
Nearly all Us citizens are reducing again on their investing in some way, according to a new CNBC and Early morning Seek the advice of survey. The study observed 92% of Us residents are pulling again, further evidence of what stores like Walmart, Concentrate on, Residence Depot and Finest Obtain named out as careful shopper […]
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Lululemon shares surge after reporting 24% sales growth, raising full-year guidance
Lululemon reported earnings that beat Wall Street’s estimates on the top and bottom lines Thursday and raised its full-year guidance, bolstered by improvements in China and freight costs. Shares of the company surged more than 12% in extended trading. Here’s how the retailer did in its fiscal first quarter compared with what Wall Street was […]
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This startup wants to curb fast fashion by helping you rent out your closet
By Rotation, a U.K.-based clothing rental app, hopes to eliminate the need for fast fashion by making peer-to-peer clothing rental mainstream in the United States. The startup expanded to the United States in May. By Rotation aims to grow usage in New York City this year before expanding to two other major U.S. cities next […]
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Gap shares jump 14% after retailer reports big improvement in margins
The Gap logo is displayed at a Gap store on April 25, 2023 in Los Angeles, California. Mario Tama | Getty Images Gap reported another quarter of net losses and declining sales across its four brands but the retailer insisted it’s making progress – and has managed to significantly improve its margins. Here’s how the […]
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Abercrombie & Fitch surges 18% after reporting surprise profit
Pedestrians pass in front of an Abercrombie & Fitch Co. store in San Francisco. David Paul Morris | Bloomberg | Getty Images Shares of Abercrombie & Fitch soared 18% in premarket trading Wednesday after the mall retailer beat estimates, raised its guidance and reported a surprise profit. Here’s how Abercrombie did in its fiscal first […]
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Temu accused of info threats just after sister app was suspended for malware
In just 17 days after start, Temu surpassed Instagram, WhatsApp, Snapchat and Shein on the Apple App Store in the U.S., in accordance to Apptopia knowledge shared with CNBC. Stefani Reynolds | Afp | Getty Illustrations or photos The U.S. has accused price reduction browsing internet site Temu of possible details risks right after its […]
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These retailers are most at risk for a margin squeeze this earnings season thanks to cautious consumers, heavy promotions
Shoppers are at the Citadel Outlets in Los Angeles. Jonathan Alcorn | Reuters Affordability is the number one concern for consumers globally, new data released Tuesday by EY shows. The price worries could suggest trouble for retailers that are relying on promotions to win over cost-conscious customers. Those companies could see their margins under pressure […]
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ThredUp to list on alternative stock exchange: ‘We’re here to make a difference,’ CEO says
ThredUp, the clothing-consignment company, announced Tuesday that it’s dual listing its stock on the Long Term Stock Exchange, or LTSE, a national securities exchange designed to promote sustainable principles and a long-term focus among investors and businesses. “This is another indication of ThredUp’s commitment to the long term,” CEO James Reinhart told CNBC. “We’re here […]
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Walmart sells plus-size clothing brand Eloquii, offloading its third digital brand this year
Fashions featured on Eloquii Source: Eloquii Walmart is selling online apparel brand Eloquii to FullBeauty Brands, marking the retailer’s third divestiture of a direct-to-consumer brand this year. The big-box retailer sold Bonobos to WHP Global and Express earlier this month and offloaded Moosejaw to Dick’s Sporting Goods in February. The sales are a reversal of a […]
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Lululemon has approached Hydrow about a possible sale of Mirror
A Lululemon sign is seen at a shopping mall in San Diego, California, November, 23, 2022. Mike Blake | Reuters Lululemon is looking to sell its at-home fitness business Mirror and has approached competitor Hydrow as a potential buyer, CNBC has learned. Multiple parties have reached out to Hydrow to gauge its interest in Mirror, […]
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