Agenda-setting intelligence, analysis and advice for the global fashion community.
Nordstrom Inc beat quarterly revenue estimates on Tuesday, as the rollout of Covid-19 vaccines and fresh government stimulus checks boosted traffic at department stores.
Total revenue rose to $3.01 billion in the first quarter ended May 1 from $2.12 billion a year earlier, beating analysts’ average estimate of $2.90 billion.
By Uday Sampath; Editor: Shinjini Ganguli
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
