Retail industry
Abercrombie & Fitch soars 25% even as retailer slashes profit outlook due to tariffs
A Abercrombie & Fitch store is seen on April 09, 2025 in New York City. Michael M. Santiago | Getty Images Shares of Abercrombie & Fitch soared on Wednesday, even after the retailer slashed its profit outlook due to tariffs, which are expected to hit its business by $50 million. The company is now expecting […]
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Macy’s cuts profit outlook as tariffs, promotions hit its business
Macy’s cut its full-year profit guidance on Wednesday even as it beat Wall Street’s quarterly earnings expectations. In a news release, the department store operator said it reduced its earnings outlook because of higher tariffs, more promotions and “some moderation” in discretionary spending. Macy’s stuck by its full-year sales forecast, however. For fiscal 2025, Macy’s […]
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Walmart fined for shipping realistic toy guns to New York, violating state law
New York Attorney General Letitia James holds a press conference following a ruling against former U.S. President Donald Trump ordering him to pay $354.9 million and barring him from doing business in New York State for three years, in the Manhattan borough of New York City, U.S., February 16, 2024. David Dee Delgado | Reuters […]
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How the tycoons behind Kind Bars, Hot Pockets and other snacks diversify their fortunes
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Billionaire Daniel Lubetzky built his fortune on Kind snack bars made with nuts, fruits and whole grains. He sold a controlling […]
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EU urges retailer Shein to respect laws and warns of fines
A shopper carries a bag with promotional merchandise while visiting fashion retailer Shein’s Christmas bus tour, in Manchester, Britain, December 13, 2024. Temilade Adelaja | Reuters The European Union on Monday urged fast-fashion retailer Shein to respect EU consumer protection laws and warned it could face fines if it failed to address the EU’s concerns. […]
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Businesses are finding a workaround for tariffs — and it’s entirely legal
The rail-mounted crane transports goods at the cargo yard of the Qianwan United Container Terminal of Qingdao Port in Qingdao City, Shandong Province, China. Nurphoto | Getty Images Businesses are finding a workaround to minimize the most significant hit from tariffs, using a decades-old piece of legislation known as the “first sale rule.” Within U.S. […]
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How On is taking on Nike and Adidas in the sneaker race
Swiss brand On is quickly emerging as a global challenger in the sportswear market. The company, which sells premium-priced athletic shoes and apparel, reported net sales for the three-month period ended March 31 rose over 40% to 726.6 million Swiss francs (US$869 million) compared with the year prior. Analysts say the brand has been able […]
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How Nashville transformed from Music City into a booming business hub
Nashville, Tennessee, has transformed from its reputation as “Music City” into a major U.S. metro thanks to rapid population growth, job opportunities in key industries like healthcare and tech and a good quality of life. It’s now become one of the fastest-growing U.S. cities, boasting a diverse community and a competitive economy. “It’s not […]
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Nike will raise prices on a wide range of products as soon as this week
Nike shoes are seen in the King of Prussia Mall, as global markets brace for a hit to trade and growth caused by U.S. President Donald Trump’s decision to impose import tariffs on dozens of countries, in King of Prussia, Pennsylvania, U.S., April 3, 2025. Rachel Wisniewski | Reuters Nike will raise prices on a […]
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Europe must make concessions to Trump in trade talks, LVMH’s Arnault says
Bernard Arnault, Chairman and CEO of LVMH Moet Hennessy Louis Vuitton, speaks during the annual shareholders meeting of LVMH Moet Hennessy Louis Vuitton in Paris, France, April 17, 2025. Gonzalo Fuentes | Reuters The European Union must soften its stance toward U.S. President Donald Trump’s trade demands and negotiate a deal to avoid tariffs and protect European jobs, LVMH CEO and […]
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