Converse Cuts Jobs as Part of Parent Nike’s Cost-Savings Plan
Nike is undergoing a $2 billion cost-cutting plan that includes slashing 2 percent of its workforce.
The teen retailer’s total net revenue rose to $1.31 billion in the fourth quarter, in part due to the success of its inclusive intimates line Aerie.
The US-based retailer saw shares drop by 7 percent amid sluggish demand and stiff competition in the retail space.
Same-store sales at the retailer rose only 2 percent, falling short of analyst expectations and sending shares down as much as 14 percent in New York
The apparel retailer will sell CBD-infused lotions, muscle balms and aromatherapy products later this year.
ADVERTISEMENT
Thanks to growing demand for its jeans and body-positive lingerie line Aerie, the denim maker has beaten same-store sales estimates.
American Eagle Outfitters forecast third-quarter profit below expectations, as the retailer spends more on wages and advertising to support the expansion of its popular Aerie line of lingerie.
The company was boosted by strong demand for its Aerie line of lingerie.
The teen clothing retailer results' exceeded Wall Street's expectations.
ADVERTISEMENT
Nike is undergoing a $2 billion cost-cutting plan that includes slashing 2 percent of its workforce.
During her tenure, Drucker Mann was instrumental in ushering the business into the digital age, said Roger Lynch, Condé Nast’s chief executive.
The miner set out its plans for a potential break-up via a demerger or sale of some of its assets, as it fights off a $43 billion takeover bid from BHP Group.
The company, whose stock soared to a record during the pandemic, has languished as faster inflation and shoppers returning to stores pummelled sales in 2022 and 2023.
Fast-growing DTC sales helped the brand beat Wall Street expectations in the quarter ending March 31.
The British fashion house will likely reveal that its fiscal fourth quarter — which will be reported on Wednesday — is expected to be the year’s worst, according to analyst estimates compiled by Bloomberg.
A sale would undo a blockbuster trans-Atlantic merger that took place in stages beginning more than a decade ago.
Ouai founder Jen Atkin’s 10-year-old editorial hair care site Mane Addicts has effectively shut down.