Shares of Versace Owner Capri Seen Falling 30% If Deal With Coach Owner Tapestry Fails
Since the merger announcement, Capri has reported weaker-than-forecast earnings twice, spurring concern about its performance in the coming quarters.
The US retailing giant asked suppliers to stop shipping orders and halt production for the fall season, taking drastic measures to mitigate fallout from a widespread retail lockdown.
Robert J. Fisher, Gap Inc.'s non-executive chairman of the board, will replace Peck as interim CEO and president.
Gap Inc will spin out Old Navy, the company said Thursday, in an effort to bolster both the growing Old Navy and fading Gap brands.
The idea is to focus on the areas with the most potential for fuelling growth — rather than having unrealistic expectations for the older divisions.
The meeting will include CEOS from Target, Gap and J.C. Penney, according to those familiar with attendees.
Gap Inc. posted second-quarter earnings that narrowly topped analysts’ estimates, giving hope that the largest apparel-focused U.S. retailer can mount a comeback.
Gap says sales at established stores fell 6 percent in May. That was better than the 7 percent decline forecast by Thomson Reuters.
Gap Inc. chief executive officer Art Peck said the retailer would consider relying on third-party sellers such as Amazon.com Inc. to reach customers.
Gap Inc. shares plunged as much as 15 percent in late trading after the apparel chain posted disappointing results, a sign the company’s comeback hasn’t materialised.
Gap Inc. is reporting a 2 percent drop in a key revenue measure for February, dragged down by weakness at its Banana Republic stores.
Gap Inc. forecast profit this year that trailed some analysts’ estimates as the company tries to revive sales.
Gap Inc. fell as much as 9.1 percent in late trading after December sales tumbled at its Old Navy chain, which was long seen as the company’s brightest star.
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.
Overall revenues for the three months through March totalled 818 million euros ($874 million), above a company-provided analyst consensus of 786 million euros.
Embattled by weak demand and currency issues in Nigeria, the company is looking to slim down in order to return to growth.
EU lawmakers backed the Corporate Sustainability Due Diligence Directive by 374 votes to 235 against, with 19 abstentions.