Shares in Nordstrom Inc slumped 9 percent after the U.S. department store operator reported disappointing same-store sales and said it had been forced to refund some of its credit card customers after overcharging them.
Fashion brands need to put their foot down and take action to prevent “a race to the bottom” in terms of discounts that threaten whole fashion retail eco-system, Farfetch CEO José Neves told FashionNetwork.com.
Kurt Geiger has reported strong results in its latest financial year but analysts are concerned that the problems at UK and US mid-market department stores will make life tougher for the footwear retailer.
Pablo Isla has topped Harvard Business Review’s list of the best-performing CEOs in the world for the second year in a row. LVMH's Bernard Arnault came in third, followed by François-Henri Pinault of Kering.
At a spruced-up pilot store in H&M's home town of Stockholm, the chain founded in 1947 is testing new concepts that mark a break with its past, and partly echo some tactics already deployed by rivals to attract shoppers.
French Connection said it's making progress and will be profitable again by year-end. But in H1, sales fell and it remained loss-making, despite wholesale in the UK, Europe and US firing on all cylinders.