Prince Harry and Meghan Markle’s wedding was expected to send retail spending soaring by £195 million, but, independent fashion and apparel stores suffered a 24% decline in sales on Saturday, according to new research.
Macy's announced Paula Price as its new Chief Financial Officer on Wednesday. Price will lead all finance, accounting, investor relations and internal audit functions and will report to chairman and CEO Jeff Gennette.
Tiffany & Co. blew past analysts’ estimates in the first quarter and raised its full-year forecast as a plan to target millennials and sell household items attracted more shoppers, sending its shares to an all-time high.
Fruit of the Loom is moving its HQ ops out of the UK with 70 jobs to be lost as a result. The US-based company is relocating manufacturing to mainland Europe and to North Africa as it optimises its supply chain.
M&S had some good news Wednesday as it reported more customers, higher e-sales and improved Clothing & Home margins. But all other figures were poor as it spent heavily to force through the change it desperately needs.
Apparel retailer Urban Outfitters Inc reported first-quarter profit and sales on Tuesday that handily beat analysts’ estimates, driven by strong spending at its stores despite a longer-than-usual winter season.