Macy's and Kohl's reported bigger-than-expected declines in sales in the latest quarter, underscoring department store operators' continued struggle to retain customers who increasingly prefer to shopping online.
Mexican retail brand manager Grupo Axo has revived plans for an IPO of up to 3 billion pesos (£122 million) that was put on ice in November over fears of a fallout from Donald Trump's U.S. presidential win.
Snap shares plunged on Wednesday after the owner of Snapchat reported slower user growth as it competes with copycat messaging apps, as well as a $2.2 billion net loss in its first earnings report as a public company.
Sales growth across national retailers and the company's direct business drove the first quarter sales increase. GAAP net income increased to $2.2 million and adjusted net income jumped to $4.4 million.
Iconix Brand Group reported Q1 2017 revenue down 11%. Q1 also saw the strategic sale of its entertainment segment for $345 million in cash, which will provide the bulk of cash used to reduce company debt by $362 million.
Q1 saw good news of a sort for Marimekko as the first three months of the year enjoyed improved sales and profits. But with sales boosted by calendar effects, it’s clear the print and textile specialist has work to do.