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.
BENTONVILLE, United States — Wal-Mart Stores Inc. plans to close 269 stores, including 102 of its small-format Express outlets, aiming to refocus on better-performing locations and its e-commerce site.
The move includes 154 locations in the U.S., the Bentonville, Arkansas-based company said in a statement Friday. Overseas, the streamlining effort includes the closing of 60 money-losing stores in Brazil.
By Nick Turner; editor: John Lear.
The company has continued to struggle with growing “at scale” and issued a warning in February that revenue may not start increasing again until the fourth quarter.
The British musician will collaborate with the Swiss brand on a collection of training apparel, and will serve as the face of their first collection to be released in August.
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.