Walmart’s win doesn’t mean retailers can relax
Walmart Inc., TJX Cos Inc. and Lowes Cos. each upgraded their forecasts this week; Home Depot Inc. returned to sales growth. All the good news means the retail sector is doing fine, right? Read More
Fashion
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Rent the Runway to swap debt for equity in revival effort
Rent the Runway Inc. will hand over a controlling stake in the company as part of a plan to cut debt and grow, after residual effects of the Covid-19 pandemic pushed the firm to the brink of bankruptcy. Read More
Rahul Mishra launches largest flagship store to date in Mumbai
Global couturier Rahul Mishra has launched a 7,500 square foot flagship store in Mumbai’s historic Horniman Circle, designed in collaboration with architecture and interiors specialist Rooshad Shroff. Read More
Target’s new CEO pick raises doubts about its much-needed brand reboot
Target needs a hard reset on strategy, Wall Street believes. And new CEO Michael Fiddelke may not be the person to do it. Read More
China’s Miniso saw revenue increase 21.1% in first half of the year but attributable net profit dipped
Miniso’s revenue for the first half of the year totalled 9,393 million yuan (1,126 million euros), marking a 21.1 % increase. Revenue generated in China increased by 11.4 %, while international revenue rose by 21.5 %. Read More
UK retailers say budget tax hikes risk hitting living standards
Britain’s biggest retailers have written to finance minister Rachel Reeves to say that further tax increases in her upcoming budget could undermine the government’s manifesto pledge to improve living standards. Read More
Switzerland moves to strengthen its competitiveness after US tariffs
Switzerland is intensifying efforts to strengthen its attractiveness as a business location, its government said on Wednesday, after being hit with some of the highest US tariffs worldwide. Read More
Ross Stores gives rosy sales view as shoppers gravitate to deals
Discount-retailer Ross Stores Inc. jumped after projecting inflation will push more consumers to seek its off-price wares and deliver sales growth above expectations. Read More
Adidas visits Indigenous Mexican town to apologise for sandal design
Adidas executives visited a small Indigenous town in the mountains of southern Mexico on Thursday to offer an apology over a sandal-inspired shoe design that Mexico’s government had blasted as cultural appropriation. Read More
Mamas & Papas CEO steps down, firm names new leaders as investment ramps up
Long-established UK-based Mamas & Papas is gearing up for the Golden Quarter with “significant” investment to grow the business and with a new leadership team set to deliver the strategy as its CEO steps down. Read More