Alibaba Group cashed a record 213.5 billion yuan ($30.7 billion or £23.8 billion) in sales on Sunday during its 24-hour online retail frenzy Singles’ Day, but the event’s annual growth dropped to its slowest-ever rate.
The NYC-based beauty company reported a significant narrowing of Q3 net losses on Friday, thanks to cost-cutting measures which compensated for faltering sales and are soon to be expanded through a new optimization plan.
Virgil Abloh has been named as the designer of 2018 by Ebay’s Shopping Report, which also highlights trends ranging from logos and faux fur to denim boots and pretty much anything connected to a certain royal wedding.
The NYC-based brand management company announced its financial results for the third quarter of 2018 on Friday, reporting narrowed losses despite tumbling sales dragged down by the group’s men’s segment.
After a descent into bankruptcy, Sears Holdings has announced that it will close 11 Kmart locations and 29 Sears stores by February of 2019, joining over 200 other locations set to close in the near future.
Bain & Company, which will present its annual study this month, gave a preview of its results at the Vogue Fashion Festival on Friday, announcing estimated global revenues in the luxury sector of 280 billion euros.
Luxury goods group Richemont struck a cautious note after reporting sales numbers hurt by moves to combat the grey market and efforts by the Chinese government to discourage consumers from spending overseas.
October’s high street sales in the UK continued to be sluggish and while retailers might have been hoping to reverse October 2017’s 5.2% fall, a like-for-like drop of 2% this time meant they didn’t get their wish.
Farfetch losses may have grown in Q3, but at its still-early development stage that's no shock. Losses aside, its Q3 report showed it surging ahead on sales and market share with enough cash to fund its lofty ambitions.