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
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
BERLIN – Sales at Puma were down 0.2 percent on a currency-adjusted basis to 2.12 billion euros in the second quarter as consumers tightened their belts, prompting the German sportswear maker to lower its forecast for full-year operating profit. Despite a slow start to the year, Puma racked up 4.22 billion in sales in the...Read More
G-III Apparel Group’s first-quarter profits slipped from a strong showing last year, but still beat expectations and were strong enough to prompt the Donna Karan and Karl Lagerfeld parent to boost its outlook for the year. G-III’s first-quarter net income for the quarter fell to $3.2 million from $30.6 million a year earlier, but came...Read More
Lands’ End Inc. found its next chief executive officer at American Eagle Inc., tapping Andrew McLean to take over the corner office from Jerome Griffith, who will transition out at the end of the fiscal year in January. Griffith, 64, will continue on as a director at Lands’ End and will become executive vice chair...Read More
Kohl’s Corp.’s business bounced back in the second quarter — and chief executive officer Michelle Gass teased that the company was ready to make more new friends. Already the retailer brought Sephora into the fold and the pair have begun to roll out to 850 Kohl’s doors. That followed a link up with Amazon that...Read More
NEW DELHI — Seeking a valuation of about $4 billion, online beauty player Nykaa, the largest in its space in India, has filed with the regulatory SEBI for an initial public offering with the Securities and Exchange Board of India. In a sector dominated by global players — U.S. e-commerce giants Amazon and Walmart-owned Flipkart,...Read More
PARIS — Zara owner Inditex is ramping up its sustainability initiatives, moving forward its zero net emissions ambition to 2040, instead of 2050 previously. At its annual general meeting Tuesday, the company unveiled an ambitious set of new targets including a number of actions on increasing its use of more sustainable textiles. “This is a...Read More
