According to the New York Post, HBC is exploring expanding the Saks Brand into hotels and luxury apartments. The strategic shift follows HBC’s $2.65 billion acquisition of competitor Neiman Marcus. The company is already developing a hotel and residences in Beverly Hills and townhomes in Westfield, New Jersey, where an abandoned Lord & Taylor once...Read More
Walmart Inc. threw its weight around in the second quarter, gaining share as the world’s largest retailer became even bigger. Revenues for the quarter ended July 31 grew 4.8 percent to $169.3 billion, with comparable sales in the namesake U.S. business rising 4.2 percent on top of a 6.4 percent gain a year earlier. Although...Read More
Chinese e-commerce group JD.com on Thursday reported forecast beating second-quarter profits, helped by price cuts that attracted cost-sensitive consumers to its platform. JD.com’s US-listed shares rose as much as 3.5 percent in premarket trading. Major Chinese vendors like JD.com and Alibaba have increased focus on discounts and lower-priced goods as Chinese shoppers have become more...Read More
All products and services featured are independently chosen by editors. However, Footwear News may receive a commission on orders placed through its retail links, and the retailer may receive certain auditable data for accounting purposes. After more than 50 years in business, John Fluevog is launching sneakers. On Monday, the designer, launched the DDFT Velocity...Read More
Tapestry Inc. — in the midst of a fight with the Federal Trade Commission to keep its $8.5 billion deal to buy Capri Holdings — topped Wall Street’s estimates in a fiscal fourth quarter that illustrated how the parent of Coach, Kate Spade and Stuart Weitzman could benefit from the deal. Net income for the quarter...Read More
