Gap Names PepsiCo Exec as Global Chief Marketing Officer
Fabiola Torres, who has also held leadership roles at Nike and Apple, will oversee the group's marketing, merchandising and store experience functions.
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The News in Brief
Allbirds’ Sales Dip Continues in 2024, Losses Narrow
The company is anticipating further sales slumps this year. Its revenue will likely drop as much as 25 percent year over year to $190 million in 2024.
Shopify Falls on Surprise Loss, Hit From Logistics Unit Sale
After rallying more than 120 percent last year, Shopify shares have struggled this year after the company had projected higher operating costs than expected for this quarter.
Boohoo Dives Into Debt as Losses Soar to £160 Million and Sales Slump
The online fashion specialist said it had built up net debts of £95m in the year to the end of February – down from almost £6m of net cash a year before – after losses widened 76 percent to £160 million.
Levi Strauss Ends Lawsuit Against Italy’s Brunello Cucinelli Over Trademarked Tab
Levi notified a federal judge in Oakland, California on Tuesday that it was dismissing the case with prejudice, meaning it cannot be brought again. Settlement talks began shortly after Levi sued in January.
Puma Returns to Sales Growth in Americas Despite ‘Volatile’ Market
Demand for retro shoe styles such as 'terrace' has helped boost sales of sportswear brands like Puma and its rival Adidas at a time when the sector has been hit by weaker consumer demand and excess stocks.
Tylenol Maker Kenvue Beats Quarterly Profit Estimates, to Cut 4% Jobs
Kenvue beat Wall Street estimates for first-quarter profit on Tuesday, and said it would cut 4% of its global workforce amid the Tylenol and Band-Aid maker’s efforts to expand its key brands.
Richemont Acquires Italian Jeweller Vhernier
Vhernier is small but Richemont has a history of turning small brands into success stories