Facebook continued its romp in the advertising market, posting a 49% rise in ad sales for the third quarter to $10.14 billion, about 88 percent of which came from mobile ads. Quarterly profits spiked to 79%.
The teen fashion retailer is preparing to file for bankruptcy, a lawyer for the company said, in the latest example of a U.S. brick-and-mortar retailer becoming a casualty of consumers moving toward online shopping.
Hanesbrands saw sales climb 2 percent in the third quarter ended Sept. 30, to $1.8 billion, returning to organic sales growth, for the first time in eight quarters. The firm now expects full-year sales of $6.45 billion.
Estee Lauder’s stock hit a record high after the cosmetics maker forecast holiday-quarter sales ahead of market expectations Wednesday, banking on demand for its acquired makeup brands that are popular with millennials.
Luxury brand Coach Inc said it had applied to delist from the Hong Kong stock exchange, dealing another blow to the financial hub, a day after commodities trader and miner Glencore said it planned to withdraw its listing from the city.
Australia’s biggest department store chain, Myer Holdings Ltd, cut its growth targets on Wednesday as it battles intensifying competition and a rebellion from its biggest shareholder, sending its shares sharply down.
Reiss reported lower operating profits for the year to this January but it doesn’t look like there’s too much to worry about as the company was investing heavily in its expansion strategy and that’s what caused the dip.
According to a recent filing with the California Employment Development Department, St. John Knits is planning to complete 72 layoffs by December. This follows a first round of 130 layoffs announced in June.
Under Armour Inc slashed 2017 forecasts and reported its first quarterly fall in revenue since going public as the sportswear firm struggled against fierce competition from Nike and Adidas in North America.