Nike has increasingly leaned on its iconic basketball shoes to boost sales, but as the sportswear giant bleeds market share to newer brands, some analysts and investors are wondering if that is a mistake. Shares of the retailer were down 5.6% in extended trading on Thursday after a post-earnings conference call in which executives acknowledged…
Hermes is being targeted in a new lawsuit accusing the luxury retailer of selling its coveted Birkin handbags only to customers who have spent exorbitant amounts of money at the store on other goods. The proposed federal class-action lawsuit, which was filed this week in San Francisco, alleges that Hermes is violating antitrust law by…
India’s gold obsession is starting to pinch with prices of the precious metal continuing to spiral and touching a record at nearly ₹67,000 for 10 grams. This has forced consumers to moderate gold purchases while including more precious stones in jewellery. Gold and silver prices rallied on Thursday after the US Federal Reserve maintained that…
Reddit Inc. shares soared 48% above their initial public offering price, as investors embraced the social media company’s vision of profiting from the growth of artificial intelligence.The San Francisco-based company’s stock closed at $50.44 each on Thursday in New York, a day after the company and some of its shareholders raised $748 million in an…
NEW DELHI: The Delhi high court on Thursday refused to grant chief minister Arvind Kejriwal any protection from coercive action in an excise policy-linked money laundering case.A bench of Justices Suresh Kumar Kait and Manoj Jain listed the AAP leader’s application seeking protection for further consideration on April 22 when his main petition challenging the…
Representative image Surat: Textile businesses in the Diamond City are grappling with a significant downturn as bundles of textile products pile up at retailer facilities nationwide, triggering a sharp decline in trade. The overall textile business in Surat has plummeted by over 50% due to the time limit on payments specified in an amendment to…
London: British clothing retailer Next kept its guidance for sales and profit in the current year after reporting a slightly better than expected 5% rise in profit for 2023-24. The group, which is often considered a useful gauge of how British consumers are faring, said on Thursday it still expected a profit before tax and…
Nike is projected to post its first quarterly revenue decline in nearly two years on Thursday, turning the spotlight on the slower-than-expected boost from its direct-to-customer (DTC) strategy and sluggish demand in North America. The sportswear giant has invested in selling more through its own sales channels, including stores and online, instead of increasing inventory…
Lee Cooper logo (source: Pinterest) Lee Cooper, a Reliance Retail brand has announced its foray in the women footwear segment. The Lee Cooper’s SS’24 women footwear collection “Shoes Don’t Judge” features a diverse range of designs to suit every style and occasion. The collection encompasses a unique style, a wide array of colours and materials…
NEW DELHI: Rohan Gupta, Congress national spokesperson, has opted to withdraw his candidacy from the Ahmedabad East Lok Sabha seat on Tuesday. Citing personal reasons, Gupta emphasised that his decision was driven by his father’s health condition rather than political motives.“I fulfilled all responsibilities given to me by the party in the last 15 years.Even…
