PPR misses mark, Coach finds new balance, UK online spending drops, Singapore retail, Schmatta’s decline

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Balenciaga, Gucci Group | Source: Balenciaga

PPR Sales Miss Estimates as Gucci Touches ‘Low Point’ (Bloomberg)
“PPR SA, owner of the Gucci brand, reported sales that missed analysts’ estimates after demand weakened across the French company’s markets, from luxury to furniture and African goods distribution.”

Coach fiscal 1Q profit falls slightly; sales rise (AP)
“Luxury handbag maker Coach Inc. said Tuesday its new lower-priced handbag lines such as its colorful Poppy bags are boosting growth in an environment where consumers will spend less on nonessentials for the long term.”

Online spending growth at all time low (Drapers)
“Online spending growth dropped to a record low in September as etailers were hit by heavy high street discounting and localised postal stikes.”

Luxury retail lands in Singapore (Inside Retailing)
“A colossal integrated resort development under construction in Singapore will add a whole new retail dimension to the city state already renowned for its retail offer.”

‘Schmatta: Rags to Riches to Rags’ (LA Times)
“In the last 40 years, the percentage of American clothing made in America has plummeted from 95 to 5. Five percent! How did this happen?”