The California-based footwear company, which owns brands such as Uggs and Teva, saw net sales fall 2.4% to $369.5 million in its 4th quarter but surprised investors with higher revenues and an unexpected profit.
Following its forays in higher-end apparel under the creative direction of Jenna Lyons, the struggling retailer has decided to realign with its former pricing strategy by slashing the prices of many of its basics.
The Gymboree Corporation has announced it is bringing on former Tilly's CEO Daniel Griesemer as President and CEO to lead the mall-based children's retailer out of its financial troubles and improve its digital presence.
The New York-based designer has chosen to consolidate his resort and spring collections into one show this September during NYFW, called “Spring One.” Wu will also present his pre-fall and fall collections in one show.
Finally a bit of good news for the storied American retailer: Sears reported its first quarterly profit in nearly two years on Thursday, buoyed by the sale of its Craftsman brand and a program to cut $1.25B in costs.
Following a bad day on the stock market Wednesday and a 5% drop in its share price, Italian luxury group Salvatore Ferragamo on Thursday confirmed a cautious outlook for 2017 while sticking to its medium-term guidance.
A new online survey has found that 31% of people would firmly prefer to have more time than money, and 44% believe experiences are more important than things, revealing new opportunities for retailers.