LVMH-Backed L Catterton Agrees to Buy Majority Stake in Kiko
The private equity fund has entered into a definitive deal with the Percassi family, which will retain a “significant stake” in the business.
Net sales fell 34 percent to $485.4 million in the first quarter as stores remained shut.
Brighter interiors and larger fitting rooms have helped improve same-store sales by 8 percent.
The teen retailer blamed political issues ranging from Brexit to Hong Kong protests.
The retailer has adjusted its outlook to anticipate additional tariffs of as much as 30 percent.
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Inside the global retail empire owner's $45.6 million Ohio residence, nestled among Facebook, Amazon and Alphabet data centres.
Comparable sales increased for a sixth consecutive quarter climbing more than double analysts’ predictions, and net sales are set to rise 2 to 4 percent this year.
The company’s total comparable-store sales rose 3 percent, beating analyst estimates of a 1.7 percent gain.
The retailer's stock plunged after the release of results — another sign that apparel retailers’ recent strength could be short-lived.
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Starting Tuesday, shoppers using the retailer’s namesake and Hollister apps will be able to select the popular payment platform as an option when checking out.
Arthur Martinez is retiring, signalling that a long quest to set the clothing chain on a new course is wrapping up.
Abercrombie & Fitch forecast robust sales for the holiday quarter as its surf-wear brand Hollister helped revive the previously struggling retailer.
Abercrombie's net sales fell 6.5 percent to $821.73 million, down for the 15th straight quarter.
The private equity fund has entered into a definitive deal with the Percassi family, which will retain a “significant stake” in the business.
The company confirmed in January that it planned to restart activities in Venezuela in the first half of 2024 with local partner Grupo Futura.
The move means Shein could be liable for fines of as much as 6 percent of global revenue for violating the law, designed to curtail the spread of illegal content online.
Since the merger announcement, Capri has reported weaker-than-forecast earnings twice, spurring concern about its performance in the coming quarters.
The new scent, Zouzou, is the fashion house’s first new perfume since 2022.
Unilever Plc sales jumped more than expected in the first quarter as Chief Executive Officer Hein Schumacher pushes ahead with his turnaround plan and shoppers come back to premium brands.
President Biden signed the bill that gives China-based ByteDance 270 days to divest TikTok’s US assets or face a ban.
The Alphabet Inc. company said in a blog post Tuesday that it’s still working with the ad industry and regulators on the plan.