China, Travel Retail Weigh on Shiseido Earnings
Sales rose 4 percent on a reported basis, as consumer pullback from Japanese brands and inventory adjustments dragged down overall earnings.
Rhea Kapoor
The News in Brief
Victoria’s Secret Jumps as Sales Decline Moderates
The lingerie maker said Thursday that its preliminary sales and adjusted profit for the quarter ended May 4 were at the high end or above its prior projections.
J.Crew Flagship Reopens in Soho
The American apparel chain has returned to the Manhattan retail neighbourhood for the first time since 2017.
Ferragamo Sales Down 17% in First Quarter
Revenues totalled 227 million euros ($244.5 million), below analyst expectations of 237 million euros according a LSEG consensus.
TikTok to Label AI-Generated Images, Video From OpenAI and Elsewhere
Researchers have expressed concerned that AI-generated content could be used as misinformation in an attempt to interfere with US elections this autumn.
US Online Retail Spending Up 7%, Driven By Demand for Cheaper Products
Sticky inflation has forced shoppers in various categories to trade down to more affordable products.
Tapestry Misses Quarterly Revenue Expectations
The company’s net sales came in at $1.48 billion in the quarter ended March 30, compared to analysts’ average estimate of $1.50 billion, according to LSEG data.
Warby Parker’s Sales and Profits Soar in 2024
The company’s main growth driver was its continued store openings, with eight new locations during the quarter and a total of 40 anticipated for 2024.