Nike‘s results beat modest estimates on Thursday and its shares jumped briefly, but the company soon dashed investor hopes and sent shares lower when a top executive predicted revenues would fall by double digits in the third quarter. Nike’s new CEO Elliot Hill warned of short-term pain as the embattled sportswear seller works to revive…
AI Generated representative image Australian department store owner Myer will buy retail billionaire Solomon Lew‘s Premier Investments‘ apparel brands business, in a deal valued at A$863.8 million ($568.38 million), the companies said on Tuesday. Myer will issue Premier 890.5 million new shares in the retailer and there will be an A$82 million cash contribution by…
Representative Image Terming “sluggish consumption” as “temporary”, leading shoemaker Bata expects a revival in coming quarters, helped by festive season demand and retail expansion, according to its India Managing Director and CEO Gunjan Shah. The company expects e-commerce, which is now a “profitable” and “viable” business, to be its growth driver as it has been…
(Representative Image) The post-pandemic surge in global sales of luxury handbags, shoes and apparel is set to stall this year amid a creativity crisis and price hikes as brands shift focus to the biggest spending customers, a new study by the Bain consultancy said Tuesday. Bain is forecasting flat worldwide luxury sales in 2024 following…
Representative Image New Delhi: The Fashion and Apparel sector has emerged as the frontrunner in India’s retail landscape, accounting for an impressive 40 per cent of the real estate leasing activity in Q1 2024 (Jan-March). According to a JLL report, this surge was led by mid-segment brands, which captured a significant share of 40 per…
NEW DELHI: Retail inflation eased slightly to a 12-month low in May with prices of some food items moderating marginally, while the index of industrial production (IIP) growth held steady at 5% level in April.Data released by the National Statistical Office (NSO) on Wednesday showed retail inflation, as measured by the Consumer Price Index (CPI),…
Riding the wave of its success in the domestic retail market, Noel Tata-led Trent is exploring opportunities to set up its retail formats outside Indian shores, beginning with a flagship store in Dubai, said people in the know. This move comes as Zudio, one of its flagship brands, surpasses the ₹7,000-crore revenue mark in India….
Representative Image New Delhi: Ethnic fashion retailer Libas has raised Rs 150 crore from ICICI Venture, marking its first external fundraise. The company plans to use the funds to further strengthen its omnichannel presence and ramp up its retail stores across key metros and tier 1, 2, and 3 cities over the next few years….
Representative image Coach handbag maker Tapestry cut its annual sales forecast and missed third-quarter revenue estimates on Thursday, signaling weak demand for its tote bags and accessories in North America and China. Shares of the Kate Spade owner fell 2% as the company also forecast fourth-quarter profit below expectations. Reduced discretionary spending in North America…
New Delhi: Six-year-old homegrown startup, Bangalore Watch Company wants to build a Swiss-quality luxury watch brand from India. Banking on Indian consumers’ growing discretionary spending coupled with an increased affinity towards homegrown brands, the company aims to reach the mark of 5,000 watches annually in the next 3 years, shared Nirupesh Joshi, co-founder and creative…
