The Middle East region’s secondhand luxury sector is growing slower than in other markets’, with interest in sustainability still nascent among consumers and cultural stigma remaining around pre-owned items, according to a report by the Dubai-based retail giant.

Deutsche Bank AG downgraded the fast-fashion merchant to sell from hold as part of a gloomy assessment of the wider European retailing scene.

It’s at a valuation roughly 11 percent lower than the price ByteDance offered to investors in 2022, which would still place it among the 40 most valuable public companies in the world.

Amazon.com Inc. is sharply cutting fees for merchants selling clothing priced below $20, a sign it’s hunkering down for a price war with Chinese fast-fashion upstart Shein.

The main lobbying group for US retailers retracted its claim that “organised retail crime” accounted for nearly half of all inventory losses in 2021 after finding that incorrect data was used for its analysis.

Gen-Z acne brand Bubble is expanding its retail presence in the UK with a launch at Boots.

The consumer goods giant said it would take a $1.3 billion non-cash impairment charge before tax in the current quarter ending Dec. 31 on its Gillette business.

Total sales grew 2.7 percent in November, compared with 4.2 percent growth a year earlier.