Sandra Stangl Is Exiting Banana Republic
Despite a brief uptick in sales, up 24 percent between 2021 and 2022, the brand’s growth has stalled.
Bath & Body Works, whose hand sanitisers and soaps are in high demand, is more important than ever as L Brands tries to pick up the pieces after the failed Victoria’s Secret deal amid a global pandemic.
Despite a drop in total sales, digital purchases almost doubled from a year earlier to $289 million in the first quarter.
This week, everyone will be talking about the future of Victoria's Secret, the reopening of American stores and China's 520 Day. Get your BoF Professional Cheat Sheet.
L Brands' admission that Victoria’s Secret needs change marks a key shift for a company that hasn’t much strayed from its push-up-bra aesthetic, despite consumer values moving towards themes such as female empowerment and body positivity.
ADVERTISEMENT
The success of Bath & Body Works often gets overlooked amidst all the dramatic headlines about Victoria’s Secret and parent company, L Brands. But the mall chain is thriving in an environment in which it has little competition.
Apparel retailer Urban Outfitters Inc has agreed to end on-call shifts for employees at all its New York stores.
ADVERTISEMENT
Despite a brief uptick in sales, up 24 percent between 2021 and 2022, the brand’s growth has stalled.
The move comes as System owner Mike Obenson aims to turn what began as a bi-annual print title into a global media brand with a stronger digital offering.
Former Under Armour COO Colin Browne has been appointed to lead the industry organisation formerly known as the Sustainable Apparel Coalition.
The company also beat Wall Street targets for third-quarter results, hinting at a recovery in demand for beauty and cosmetic products in the US after a long bout of inflation.
The British brand’s share price, which has fallen by almost 60 percent this year, declined by a further 4.5 percent in early trading on Wednesday
Manzanita Capital has selected the investment bank Raymond James to conduct a sale of the premium British beauty retailer, per Sky News.
The British fashion and homewares company said Wednesday that full price sales climbed 5.7 percent in the first quarter, which was slightly ahead of an expected 5 percent rise.
The listing drew orders for multiple times the number of shares available and is contributing to a broad resurgence of European initial public offerings.