The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — The five-day Thanksgiving shopping period saw combined sales at 80 of the largest 100 US web retailers rise more than 23 percent over last year to $24.2 billion, according to Adobe Analytics. Not only did Cyber Monday rack up the most purchases — as in years past — but revenue of $7.9 billion made it the largest online shopping day of all time in the US, the group's data showed. Mobile transactions soared, with $2.2 billion of the day's sales originating from smartphones. "Sales coming from smartphones hit an all-time high," said John Copeland, head of Marketing and Customer Insights at Adobe. "We saw a significant spike in the Buy Online, Pick Up In-Store trend."
By Nancy Moran; editors: Anne Riley Moffat, Sophie Caronello and Lisa Wolfson
The companies agreed to cap credit-card swipe fees in one of the most significant antitrust settlements ever, following a legal fight that spanned almost two decades.
In an era of austerity on Wall Street, apparel businesses are more likely to be valued on their profits rather than sales, which usually means lower payouts for founders and investors. That is, if they can find a buyer in the first place.
The fast fashion giant occupies a shrinking middle ground between Shein and Zara. New CEO Daniel Ervér can lay out the path forward when the company reports quarterly results this week.
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