Fashion/Clothing
Nike Plans to Cut $2 Billion in Costs Over the Next 3 Years
Sportswear giant Nike has unveiled plans to slash costs by approximately $2 billion over the next three years.
Abercrombie & Fitch Sued by Ex-CEO Mike Jeffries, Demanding to Cover Legal Fees Related to Sexual Abuse Lawsuit
Former Abercrombie & Fitch Co. CEO Michael Jeffries has taken legal action against the apparel retailer.
Shein Files for US IPO as Chinese-Founded Fashion Giant Seeks to Expand Global Reach
Chinese-founded fast-fashion giant Shein has confidentially filed for an initial public offering (IPO) in the United States (US).
Black Friday Deals Occur Earlier Than Usual This Year, Signaling Concerns About Holiday Demand
October has reportedly witnessed a notable surge in early Black Friday discounts, surpassing levels seen in previous years.
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Gap Inc reported its sales results for the month of March. The retailer saw a decline in March sales, which pushed the shares down around 10%.
Clothing and accessories sector is outpacing other sectors in e-commerce sales. Some factors, including better shipping and return policies and changes in mobile uses, are encouraging more people to make more small purchases online.
Hennes & Mauritz's quarterly sales including VAT rose by 9% in domestic currencies. The company's quarterly profit declined 30% as dollar increased over local currencies.
Valentino has made an offer to acquire French fashion house Balmain for 500 million euros. Balmain’s heirs has decided to find a new owner after the fashion house’s former chairman and majority owner, Alain Hivelin, passed away in 2014.
Synova Capital has sold its UK fashion accessories brand TLG Brands to Hong Kong’s Global Brands Group. Under Synova’s ownership, TLG Brands has been seeing strong growth and more presence in international as well as online markets.
Following another quarterly loss, the clothing company is in rush to find the best option. That includes putting the company on sale.
Morgan Stanley lowered Gap's stock to an "underweight" rating from "equal-weight", citing key weakness in the company's business. Analyst at Morgan Stanley fixed an objective price of $26 for Gap's stock, down 11% from the present level.
The self-lacing shoe technology finally arrives, as Nike announced its newest adaptive lacing technology. The HyperAdapt 1.0 will be available for Nike+ members later this year.
It was agreed that Samsonite is to acquire luggage-manufacturer rival Tumi for about $1.8 billion. Samsonite has long been interested in Tumi and its acquisition is considered the biggest deal made by Samsonite.
Converse is adopting a new approach to update its Chuck Taylor shoes. The shoemaker revealed its newest Chuck II Reflective Print collection with an improvement in functionality and visual features to offer users a brand-new style and experience.