Gap slashed its annual results forecast on Thursday, sending shares 13% lower after hours as the clothing retailer blamed poor fashion choices at its Old Navy line and weak demand in the face of decades-high inflation.
Jaime Bergel and Pedro Sainz de Baranda, who both own 70% of the company, have decided to put the sale of their company on hold. The process began earlier this year, hiring investment bank Arcano to find buyers.
John Lewis is dipping its toe into the kidswear rental market via a trial link-up with Thelittleloop.com. It means Thelittleloop users will be able to add John Lewis items to their subscription plans.
UK retailer Superdrug has extended its partnership with lifestyle brand Skinnydip after a successful trial period. It also means the beauty specialist will be selling more non-beauty products, including fashion.
The first ‘Amazon Style’ store opened its doors on May 25 in the Glendale neighborhood of Los Angeles. The debut is stirring up a lot of buzz as the group discusses whether to open its own version of a department store.
Etro, the luxury Italian label controlled by the L Catterton fund, has named Marco De Vincenzo as its new creative director. Starting early next month, he’ll be in charge of the women's, men's and home collections.
Castore has captured yet another major kit sponsorship deal. This time, the premium sportswear brand has signed Spanish side Sevilla FC to a multi-season partnership, becoming the La Liga club’s official kit supplier.
The Liverpool One mall goes from strength to strength. The Grosvenor operated shopping centre at the heart of the city has signed The Vintage Store, with the retailer opening its biggest UK store to date.