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.
Sophisticated counterfeits and a culture of hassle-free returns have created an expensive problem for retailers.
Department stores and e-commerce sites like Selfridges, Farfetch and Galeries Lafayette are making moves to promote more sustainable fashion, a shift that could have a powerful impact on the industry.
Starting next year, the UK luxury department store chain will only sell leather derived from agricultural livestock, joining a growing number of retailers and brands that have banned crocodile, python and other exotic skins.
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Sales rose 4 percent on a reported basis, as consumer pullback from Japanese brands and inventory adjustments dragged down overall earnings.
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.
The American apparel chain has returned to the Manhattan retail neighbourhood for the first time since 2017.
Revenues totalled 227 million euros ($244.5 million), below analyst expectations of 237 million euros according a LSEG consensus.
Researchers have expressed concerned that AI-generated content could be used as misinformation in an attempt to interfere with US elections this autumn.
Sticky inflation has forced shoppers in various categories to trade down to more affordable products.
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.
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.