Tiffany & Co. couldn’t persuade enough customers to put a little blue box under the tree this holiday season. After a sluggish November and December — when sales fell 1 percent — the luxury jewelry chain cut its annual forecast today.
Lululemon Athletica Inc., the maker of yoga- inspired clothing, gained as much as 9.4 percent in early trading after strong holiday sales prompted the company to raise its fourth-quarter forecast.
Tiffany & Co., the world’s second-largest luxury jewellery retailer, reported a 1 percent decline in total holiday sales and lowered its annual forecast, amid continued weakness in Japan.
BoF compiles the most important professional moves of the week.
Britain’s leading fashion brands are hoping to give menswear sales a lift by targeting younger, digitally savvy male shoppers with live streaming and social media to promote the twice-yearly mens fashion week that began on Friday.
Department store operator Macy’s Inc said it would close 14 stores in early spring 2015 and cut some jobs to focus on its popular services such as in-store pickups for online orders and “ship-from-store.”
Gap Inc. said late Thursday that a key revenue metric rose 3 percent for the November and December period, as surging sales at its low-priced Old Navy chain offset sluggish business at its namesake business.
Teen apparel retailers American Eagle Outfitters Inc. and Aeropostale Inc. raised their estimates for the holiday shopping quarter as margins improved due to fewer discounts.
L Brands, the company behind Victoria’s Secret and Bath & Body Works, said Thursday that its sales rose during the critical holiday shopping season.
Swatch Group AG, Switzerland’s biggest watchmaker, lost its court bid to recoup 24.8 million Swiss francs ($24.3 million) of losses from investments with UBS Group AG that turned sour.
Marks & Spencer Group Plc reported sinking revenue of non-food items as the U.K.’s largest clothing retailer experienced delays in fulfilling online orders at the busiest time of the year.