Gap Inc said sales gained 1% during the fourth quarter, coinciding with a positive January trade. Old Navy sales continued to drive group revenues for the Holidays, helped by Banana Republic's narrowed comp sales loss.
Acquisitions of Pacific Brands of Australia, Champion Europe and Champion Japan contributed to the company's record performance. Hanes expects the next fiscal year to deliver another strong performance.
Indian e-commerce firm Snapdeal expects to turn profitable in the next two years, its CEO said, as the company cuts costs and boosts efficiency in a market currently dominated by homegrown Flipkart as well as Amazon.
Australian retailers boasted their best quarter of sales in two years, a sign that the economy had likely averted its first recession in 25 years, though shoppers turned frugal in the Christmas holiday season.
Tiffany may have wanted to grab the headlines because of its first ever Super Bowl ad but it was the luxury jeweller’s announcement of the shock departure of CEO Frédéric Cuménal that gripped the industry instead.
The Boston-based investment firm invested in Kendra Scott after having announced in December that it would invest. Scott will remain with the company as majority shareholder and all senior leaders will remain as well.