Clothing Retail – The News Desk

The Self-Checkout Even the Haters Will Love

16Dec

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World

The Self-Checkout Even the Haters Will Love

Updated Dec. 16, 2023 12:05 am ETEvery so often a technological breakthrough comes along that makes you feel like you’ve teleported to the future: the iPhone, ChatGPT, self-driving cars. And self-checkout at Uniqlo. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Inditex Lifts Gross Margin View After Sales, Earnings Increase

13Dec

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World

Inditex Lifts Gross Margin View After Sales, Earnings Increase

Inditex reported an increase in sales and earnings for the first nine months of fiscal 2024 and raised its gross margin expectations on the back of what it called a strong execution of its business.The Spanish fashion giant said on Wednesday that it made earnings before interest and taxes of 5.19 billion euros ($5.60 billion) in the nine months to Oct. 31, up from EUR4.18 billion in the same period of last fiscal year.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Luxury Stores Are Bursting With Unsold Stuff

9Dec

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Money

Luxury Stores Are Bursting With Unsold Stuff

Fashionistas can smell blood. Luxury brands need to find ways to unload their growing pile of unsold stock without reeking of desperation.The luxury industry is slowing as shoppers sober up after their pandemic spending spree. In 2022, sales across the sector rose by 15% at constant exchange rates, according to Bain & Company estimates. But U.S. shoppers tightened their belts toward the end of last year, and Europeans followed this summer. The Chinese haven’t been spending as much as brands hoped either since Covid-19 restrictions were lifted in January. This year’s growth rate is expected to be around half what the industry managed in 2022. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Shopping for Luxury Online Has Fallen Out of Fashion

7Dec

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Money

Shopping for Luxury Online Has Fallen Out of Fashion

Stocks that unite two of the world’s most successful industries, European luxury and American tech, might sound like winners. Instead, companies that sell luxury goods online have turned into quicksand for investors.After a sales boom during the pandemic, online luxury stores are grappling with flagging demand and widening losses. Two New York-listed players, Farfetch and MyTheresa owner MYT Netherlands Parent, have lost around 90% of their market value since initial public offerings in 2018 and 2021, respectively.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

The Stocks Investors Are Putting Under the Tree

3Dec

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Money

The Stocks Investors Are Putting Under the Tree

Retailers are making modest predictions about the holiday shopping season—and their stocks are going gangbusters in response.Victoria’s Secret, Foot Locker, Ulta Beauty and Dollar Tree are among the companies that offered somewhat mixed assessments of the state of the shopper last week. Yet each received an ovation from investors.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

3Dec

By adminNo Comments

World

The Stocks Investors Are Putting Under the Tree

Retailers are making modest predictions about the holiday shopping season—and their stocks are going gangbusters in response.Victoria’s Secret, Foot Locker, Ulta Beauty and Dollar Tree are among the companies that offered somewhat mixed assessments of the state of the shopper last week. Yet each received an ovation from investors.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Richemont Says It Has No Plans to Invest in Farfetch, or Lend to It

29Nov

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World

Richemont Says It Has No Plans to Invest in Farfetch, or Lend to It

Compagnie Financiere Richemont said that it has no financial obligations toward the luxury fashion e-commerce company Farfetch and doesn’t plan to lend to or invest in it.The Swiss-based luxury group’s release comes after Farfetch said late Tuesday that it wouldn’t publish its third-quarter results, which were due Wednesday. The company won’t provide forecasts at this time, and any prior guidance should no longer be relied upon, Farfetch said.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Shein Still Needs to Prove It’s a Bargain

28Nov

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Money

Shein Still Needs to Prove It’s a Bargain

Built-in-China online fashion company Shein has swept the world with its fast-to-market, hip designs. It now needs to show investors that its breakneck growth can convert into bigger profit, too.Shein, now based in Singapore after moving its headquarters from China in 2021, has filed for an initial public offering in the U.S. that could take place next year. The company is probably looking for a valuation higher than the $66 billion implied by a fundraising round in May. That would put Shein’s market value comfortably above H&M’s $27 billion but below Zara’s parent Inditex’s $127 billion.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

17Nov

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Money

Gap Is Righting the Ship With Old Navy

Is Gap cool again?Maybe not yet, but it is looking more on trend than it has in a long time. The company, which also owns Old Navy, Banana Republic and Athleta, on Thursday reported that comparable sales fell 2% in its quarter ended Oct. 28. That was much better than the 7.4% decline that Wall Street analysts polled by Visible Alpha had expected. Net income of $218 million was more than three times the number analysts had penciled in. Gap’s shares jumped 15% in after-hours trading following the company’s earnings call on Thursday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

17Nov

By adminNo Comments

World

Gap Is Righting the Ship With Old Navy

Is Gap cool again?Maybe not yet, but it is looking more on trend than it has in a long time. The company, which also owns Old Navy, Banana Republic and Athleta, on Thursday reported that comparable sales fell 2% in its quarter ended Oct. 28. That was much better than the 7.4% decline that Wall Street analysts polled by Visible Alpha had expected. Net income of $218 million was more than three times the number analysts had penciled in. Gap’s shares jumped 15% in after-hours trading following the company’s earnings call on Thursday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8