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.
The window of Topshop’s global flagship store on London’s Oxford Street has been transformed into an interactive pool scene, complete with a 360º VR water slide, “ready to take customers on a fully immersive ride.”
Topshop isn’t giving up on Australia with news that brand owner Arcadia Group is in early talks to take control of the failed Australian Topshop and Topman operation following its voluntary administration filing.
Australia's Retail Apparel Group (RAG) is being taken over by TFG (or The Foschini Group) for a maximum price of A$302.5m, the South African giant said Thursday. The company is outperforming the market at present.
Christian Louboutin has reopened its Miami boutique following a renovation. Occupying the same space as its original shop, the new Miami flagship stocks men’s and women’s shoes and Christian Louboutin’s cosmetics line.
PVH Corp reported $2 billion in revenue for the first quarter, buoyed by its two fashion flagship labels, but net income took a dramatic dive, due to various one-off expenses, including relocating Tommy Hilfiger's NY HQ.
Chinese mobile payment platform Alipay on Wednesday launched in Hong Kong its first app to handle transactions not denominated in the yuan currency, moving closer to its ambition of widening currency payment options.