The News In Brief
Retail
US Retail Sales Unexpectedly Flat in April
Consumers are focussing spending on essentials and cutting back on luxuries amid higher prices. But sales have held up as a strong labour market helped households navigate the high inflation environment.
Luxury
Roksanda Sells to The Brand Group
Founder Roksanda Ilinčić, who will stay on as creative director, had filed a notice of intent to appoint an administrator before finding a white knight in TBG.
Beauty
Natura's Losses Rise to $181 Million But Margins Grow
In its first-quarter results, the Brazilian beauty company’s losses widened and revenue dropped, but grew margins as it continues a turnaround plan that has seen it shed Aesop and The Body Shop.
Retail
Converse Cuts Jobs as Part of Parent Nike’s Cost-Savings Plan
Nike is undergoing a $2 billion cost-cutting plan that includes slashing 2 percent of its workforce.
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