Adidas investigates bribery allegations in China, FT says
Adidas has launched an investigation into allegations of large-scale bribery in China. Source link
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Apparel Retail
American Eagle profit soars, but sales grow slower than expected
American Eagle has been working to boost its profits over the next three years and has drilled down on revamping
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Gucci sales to plunge 20% in first quarter as Kering issues rare luxury profit warning
French luxury group Kering warned Tuesday that Gucci sales look set to fall 20% in the first quarter as declining
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Adidas warns of falling sales in North America as it continues to sell off Yeezy inventory
Adidas on Wednesday warned of a sales decline in its overstocked North American market in 2024, as the German sportswear
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Trump launches sneaker line
Former President Donald Trump launched a line of sneakers ranging in price from $199 to $399. Source link
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LVMH shares jump over 12% as earnings point to luxury sector resilience
LVMH shares jumped more than 12% on Friday morning after the world's largest luxury group posted higher-than-expected sales for 2023
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Macy’s rejects Arkhouse’s $5.8 billion bid, citing financing concerns
Macy's on Sunday rejected Arkhouse's $5.8 billion proposal to take the department store operator private, citing concerns over deal financing and
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Online retailer Zulily is shutting down
The women's and children's apparel specialist recently became known for its aggressive advertising across social media platforms. Source link
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Nike, Foot Locker shares sink after sneaker maker cuts revenue outlook
Nike lowered its revenue outlook for the fiscal year and unveiled a plan to cut $2 billion in costs. Source
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