Abercrombie & Fitch Co. Chief Executive Officer Mike Jeffries, who turned the retail chain into a hot teen-apparel company in the 1990s before it lost its cachet in recent years, is stepping down.
Consumers are warming to the idea that wearing a computer on their wrists or clothing may not be the fashion faux pas that early clunky prototypes led many to fear, with 2015 poised to be a breakout for the much-hyped trend.
Asos Plc, the U.K.’s largest online- only fashion retailer, reported lower first-quarter sales growth than analysts anticipated as trading conditions abroad “remained challenging.”
Marks & Spencer Group Plc shares fell the most in more than two months after the U.K.’s largest clothing retailer experienced delays delivering some customers’ online orders at the busiest time of the year.
BoF editor-in-chief Imran Amed recaps the week in the business of fashion.
Delia’s Inc. said it was liquidating assets and would file for Chapter 11 bankruptcy protection “in the very near term,” becoming the second teen retailer to go out of business in as many days.
Prada SpA reported a 44 percent drop in third-quarter profit as weaker spending by wealthy Chinese consumers weighed on the luxury-goods maker’s revenue growth.
BoF compiles the most important professional moves of the week.
L Brands, whose brands include Victoria’s Secret, Bath & Body Works and others, said that sales at stores open at least a year rose 8 percent in November. This easily topped analysts’ estimates.
Sears Holdings Corp., the department- store chain controlled by hedge fund manager Edward Lampert, posted its 10th straight quarterly loss as sales continued to decline.