J.C. Penney Co Inc cut its forecast for annual sales on Thursday while also withdrawing its outlook for full-year earnings, adding to nerves over the future of another one of America’s best known retail names.
Luxury brands will increasingly have to court Chinese shoppers on their home turf, as purchases soar among a clientele who are forecast to generate nearly half the industry’s sales by 2025, a study showed on Thursday.
German fashion house Hugo Boss set new targets to accelerate sales growth and lift profitability on Thursday as it seeks to react faster to trends, expand in Asia and quadruple the size of its online business by 2022.
Struggling Debenhams is under even more pressure as its shares continued their downward trajectory on Thursday, falling almost 9% in the first couple of hours after the markets opened to trade at less than 5p each.
Dutch payments firm Adyen is willing to take a hit on the transaction fees it charges in order to win new business, said CFO Ingo Uytdehaage, adding its model would support profit margins as volumes scale up.
Department store chain Macy’s Inc (M.N) raised its annual earnings forecast on Wednesday, signaling a strong holiday shopping season ahead, as it benefits from a growing online business and a revamped loyalty program.
Young Chinese fashion entrepreneur Wendy Yu, an investor in British fashion brand Mary Katrantzou, aims to build a fashion empire and plans to invest on average in two fashion brands a year, she told FashionNetwork.com.