“The numbers speak for themselves. We are currently not performing the way we should”, Adidas CEO Bjørn Gulden said in a press release. Jeremy Moeller / Contributor / Getty Images Adidas o...
Tag: Apparel Retail
Adidas shares tank after it issues warning over unsold Yeezy stock
“The numbers speak for themselves. We are currently not performing the way we should”, Adidas CEO Bjørn Gulden said in a press release. Jeremy Moeller / Contributor / Getty Images Adidas c...
Under Armour (UAA) Q3 earnings 2023
Under Armour shoes are seen inside of a store on November 03, 2021 in Houston, Texas. Brandon Bell | Getty Images Under Armour reported holiday quarter earnings Wednesday that beat Wall Street’s...
Luxury stocks rally as China reopens, but consumers may shop ‘in-house’
A salesperson showing the limited edition launched by Emporio Armani to welcome the Year of the Tiger at a duty-free store in Haikou, south China’s Hainan Province, January 15, 2022. Zhou Huimin...
Nike sues Lululemon over shoe designs
Nike is suing Lululemon for patent infringement related to at least four of the apparel company’s shoes, extending a contentious legal history between the two companies. In the complaint, filed ...
Levi Strauss Co (LEVI) Q4 earnings 2022
A pair of Levi’s selvedge denim jeans arranged in Louisville, Kentucky. Luke Sharrett | Bloomberg | Getty Images Levi Strauss on Wednesday posted earnings and revenue that topped Wall StreetR...
Hate fast fashion? You can compost this new streetwear clothing line
Fast fashion is big business, but it is also a big polluter, responsible for about 10% of global carbon emissions. Roughly 70% of the $3 trillion fashion industry is comprised of articles made from sy...
Gen Z is driving luxury sales as wealthy shoppers get younger
Peter Cade | Stone | Getty Images Luxury shoppers are getting wealthier and younger, with purchases by some of the newest consumers expected to grow three times faster than older generations over the ...
South Koreans are the world’s biggest spenders on luxury goods
Handbags displayed in a Chanel SA store window at the Avenuel department store, operated by Lotte Shopping Co Ltd., in Seoul, South Korea, on Tuesday, Dec. 14, 2021. SeongJoon Cho | Bloomberg | Getty ...
Nike CEO John Donahoe touts strength in Gen Z China shopper
Nike CEO John Donahoe said Thursday the company is “really focused” on Gen Z consumers in China and that the athletic apparel retailer is continuing to see strong demand in the region, eve...
Rent the Runway launches Amazon storefront to sell secondhand luxury
Jennifer Hyman, Rent the Runway Scott Mlyn | CNBC Rent the Runway began selling its secondhand luxury clothes Thursday on Amazon as the subscription-based startup continues to chase profitability. Hu...
Stitch Fix CEO steps down, 20% of salaried workforce to be cut
Katrina Lake, CEO of Stitch Fix Adam Jeffery | CNBC Stitch Fix founder Katrina Lake on Thursday told employees the company will be cutting 20% of its salaried workforce and she will reassume her post ...
Under Armour picks new CEO: Marriott executive Stephanie Linnartz
Under Armour said Wednesday that it has hired Marriott International President Stephanie Linnartz to be its next CEO, capping off a seven-month hunt for a new boss that the company hopes will grow its...
H&M Justin Bieber merchandise removed after criticism from pop star
Canadian singer-songwriter Justin Bieber arrives for the 64th Annual Grammy Awards at the MGM Grand Garden Arena in Las Vegas on April 3, 2022. Angela Weiss | Afp | Getty Images H&M will no longer...
Nike (NKE) Q2 earnings 2023
Nike on Tuesday reported quarterly results that easily topped Wall Street’s expectations while raising its outlook, as the company touted its success in clearing through its hefty inventory pile...
VF Corp. lowers full-year guidance, announces CEO is retiring
Igor Goloniov | Sopa Images | Getty Images VF Corporation, owner of The North Face and Timberland, on Monday lowered its revenue and earnings expectations for the second half of its fiscal year and sa...
Double-digit percentage drop will hit stocks in 2023: Morgan Stanley
Investors may be on the doorstep of a deep pullback. Morgan Stanley’s Mike Wilson, who has a S&P 500 year-end target of 3,900 for next year, warns corporate America is getting ready to unlea...
Adidas employees raised concerns about Ye’s conduct for years, report says
Gilbert Carrasquillo | Getty The chief executive and other senior leaders at Adidas discussed the potential fallout from its relationship with Kanye West as far back as four years ago, according to a ...
How drought cost America’s cotton industry billions
Cotton farmers in Texas, where about 40% of the U.S. crop is produced, are facing a severe drought that is costing the industry billions. A lack of rain and extreme heat is forcing growers in the stat...
Retailers’ biggest holiday wish is to get rid of all that excess inventory
A clearance sale sign is seen at the Gap retail store on September 20, 2022 in Los Angeles, California. Allison Dinner | Getty Images As some of the nation’s largest retailers report quarterly e...
Adidas warns of big earnings hit after ending Ye partnership
Kanye West at an event announcing a partnership with Adidas on June 28, 2016 in Hollywood, California. Getty Images Adidas on Wednesday cut its full-year guidance on the back of the German sportswear ...
Sever ties with Ye’s Yeezy
Kanye West arrives at the Vanity Fair Oscar Party on Feb. 9, 2020, in Beverly Hills, Calif. Evan Agostini | Invision | AP The Anti-Defamation League is urging Adidas to sever ties with Ye, calling out...
Adidas says its relationship with Kanye West is under review
Kanye West at an event announcing a partnership with Adidas on June 28, 2016 in Hollywood, California. Getty Images Sneaker and apparel maker Adidas said Thursday it is reviewing its relationship with...
Nike (NKE) earnings Q1 2023
A woman shops for shoes in the Nike Factory Store at the Outlet Shoppes at El Paso, in El Paso, Texas on November 26, 2021. Paul Ratje | AFP | Getty Images Nike on Thursday said it had a strong first ...
Patagonia must remain competitive for climate donation to work: CEO
A Patagonia store signage is seen on Greene Street on September 14, 2022 in New York City. Yvon Chouinard, founder of Patagonia, his spouse and two adult children announced that they will be giving aw...
Gap eliminating about 500 corporate jobs as sales fall
Pedestrians walk past a Gap Inc. store in Shanghai, China. Qilai Shen | Bloomberg | Getty Images Gap Inc. is cutting about 500 corporate jobs as the clothing retailer struggles with declining sales. T...
Patagonia founder donates entire company to fight climate change
Yvon Chouinard, founder and owner of Patagonia. Courtesy of Jeff Johnson and Patagonia Patagonia founder Yvon Chouinard, his spouse and two adult children are giving away their ownership in the appare...
Lululemon (LULU) Q2 2022 earnings
Pedestrians pass by a Lululemon store. Scott Mlyn | CNBC Lululemon Athletica Inc. on Thursday reported quarterly earnings and revenue that beat analysts’ expectations, as shoppers stocked up on ...
Gap (GPS) reports fiscal Q2 2022 results
An employee hands a customer a shopping bag at an Old Navy store in San Francisco. David Paul Morris | Bloomberg | Getty Images Gap Inc. on Thursday withdrew its financial outlook for the year after i...
3 things Gap needs to fix to turn its struggling business around
A pedestrian passes in front of a Gap Inc. store in Miami Beach, Florida. Scott McIntyre | Bloomberg | Getty Images Gap needs a new game plan — and fast. In April, the retailer announced the departure...
Nordstrom (JWN) reports Q2 2022 results
Shoppers leave a Nordstrom store on May 26, 2021 in Chicago, Illinois. Scott Olson | Getty Images News | Getty Images Nordstrom on Tuesday slashed its financial forecast for the full year as the depar...
Macy’s (M) reports fiscal Q2 2022 earnings
Macy’s Herald Square Flagship Department Store in Midtown Manhattan New York. Nicolas Economou | NurPhoto | Getty Images Macy’s on Tuesday cut its full-year forecast, saying it anticipates...