Apparel Retail
Adidas shares tank after it issues warning over unsold Yeezy stock
“The numbers speak for themselves. We are currently not performing the way we should”, Adidas CEO Bjørn Gulden said in a press release. Jeremy Moeller / Contributor / Getty Images Adidas could lose around 1.2 billion euros ($1.3 billion) in revenue in 2023 if it is unable to sell its existing Yeezy stock. The German […]
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Under Armour raises outlook as earnings and revenue beat expectations
Under Armour shoes are seen inside of a store on November 03, 2021 in Houston, Texas. Brandon Bell | Getty Images Under Armour reported holiday quarter earnings Wednesday that beat Wall Street’s expectations, but the retailer is contending with a growing inventory glut that heavy promotions and discounting failed to alleviate. The company’s stock rose […]
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Luxury shares rally from China reopening, but world’s most significant luxurious market may well select to shop ‘in-house’
A salesperson exhibiting the restricted edition introduced by Emporio Armani to welcome the Calendar year of the Tiger at a responsibility-free of charge retail outlet in Haikou, south China’s Hainan Province, January 15, 2022. Zhou Huimin | Xinhua Information Company | Getty Photographs Shares of numerous luxurious manner houses reliant on Chinese shoppers rallied on […]
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Cowen upgrades Skechers, says footwear stock could rally nearly 40% as brand gains momentum
Skechers has upside potential that Wall Street could be missing, Cowen said. Analyst John Kernan upgraded the stock to outperform from market perform. He also raised the price target to $65 from $48. The new target implies upside of 39.4%. Kernan said Skechers remains the second most-liked casual sneaker brand in the U.S. with about […]
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Gen Z is driving luxury sales as wealthy shoppers get younger
Peter Cade | Stone | Getty Images Luxury shoppers are getting wealthier and younger, with purchases by some of the newest consumers expected to grow three times faster than older generations over the next decade, according to a new report. Generation Y, also known as millennials, and Generation Z accounted for all of the luxury […]
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South Koreans are the world’s greatest spenders on luxury goods
Purses displayed in a Chanel SA retail outlet window at the Avenuel section retail outlet, operated by Lotte Buying Co Ltd., in Seoul, South Korea, on Tuesday, Dec. 14, 2021. SeongJoon Cho | Bloomberg | Getty Pictures Whether or not it is really calf-leather-based Italian Prada bags or classic, checkered British Burberry trench coats, South […]
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Nike CEO touts power in Gen Z China shopper as Covid disruptions dent regional product sales
John Donahoe Daniel Acker | Bloomberg | Getty Photos Nike CEO John Donahoe stated Thursday the company is “really focused” on Gen Z consumers in China and that the athletic apparel retailer is continuing to see strong demand from customers in the region, even amid Covid-associated disruptions. “We are however the quantity 1 amazing and […]
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Hire the Runway to provide secondhand luxurious on Amazon as it chases profitability
Jennifer Hyman, Lease the Runway Scott Mlyn | CNBC Lease the Runway started advertising its secondhand luxurious dresses Thursday on Amazon as the subscription-primarily based startup proceeds to chase profitability. Hundreds of products from the company’s “pre-loved” collection, as well as new, in no way-worn parts from its “design collective,” can now be purchased right […]
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StitchFix CEO steps down, 20% of salaried workforce to be cut
Katrina Lake, CEO of Stitch Fix Adam Jeffery | CNBC StichFix founder Katrina Lake on Thursday announced the company will be cutting 20% of its salaried workforce and that she will reassume her post as CEO. The brand’s current CEO Elizabeth Spaulding, who joined the company in 2020, will be stepping down effective immediately. “I […]
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Vivienne Westwood, influential vogue maverick, dies at 81
Photographer | Liza Herlands Vivienne Westwood, an influential vogue maverick who performed a essential purpose in the punk motion, died Thursday at 81. Westwood’s eponymous trend dwelling announced her demise on social media platforms, saying she died peacefully. A induce of death was not disclosed. “Vivienne continued to do the items she cherished, up till […]
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