British e-commerce firm THG ends agreement with SoftBank There’s been speculation for some time and it’s finally been confirmed — e-tail giant THG has ended its deal with Japan’s Softbank and the latter’s massive investment in THG’s Ingenuity arm won’t…
Levi Strauss cuts 2022 profit forecast on softening demand, strong dollar By Reuters Levi Strauss & Co Levi’s Consumers are shifting their focus away from higher-priced products and clothes to essentials due to decades-high inflation, affecting Levi’s and other apparel…
Lightspeed launches B2B network to connect brands and retailers Canadian technology company Lightspeed Commerce Inc. announced on Thursday the launch of the Lightspeed B2B platform bringing together thousands of the world’s brands and retailers. Lightspeed launches B2B network to connect…
Vera Bradley CEO to retire Vera Bradley, Inc. announced on Thursday the planned retirement of president and chief executive officer Robert Wallstrom and the launch of a search for its next CEO. Vera Bradley CEO to retire. – Facebook: Vera…
Most US consumers reluctant to spend due to inflation, but still buying office-wear By Fibre2Fashion Around four out of five consumers (80 per cent) in the US say that they are less confident about spending, while 62 per cent of…
Joules says Next ends stake purchase talks, founder to return in product role JoulesNext Joules Just over a month ago, it had emerged that Next was possibly to take a 25% stake in the firm at no less than the…
Oxford Industries acquires Johnny Was Oxford IndustriesWas The transaction was financed primarily by cash on hand, with the remaining approximately $100 million funded with borrowings under Oxford’s revolving credit facility. Oxford Industries said it expects to repay all borrowings within one year…
Rent the Runway Q1 sales double, profit losses unchanged Rent the Runway Rent the Runway The New York-based company said revenues for the first quarter totalled $67.1 million. The luxury platform said active subscribers totalled 134,998, up 82% year-over-year from 74,018…
Amid U.S. retail gloom, Uniqlo shines on Covid-triggered revamp Just as inflation ravages the big guns of U.S. apparel retail, awash in high inventory and deep discounts to lure shoppers back to stores, Japan’s Uniqlo Uniqlo Retailers from Gap to Kohl’s are…
U.S. retail sales unexpectedly rise, but inflation hampering spending By Reuters U.S. retail sales unexpectedly rebounded in August as Americans ramped up purchases of motor vehicles and dined out more amid lower gasoline prices, but demand is cooling as the…
