Clothing Stores

Best Buy Co. BBY 3.51% ’s profit and sales dropped in the latest quarter, as spending on computers and other home electronics dried up compared with earlier in the pandemic. Comparable sales, those from stores and digital channels operating for at least 12 months, fell 12.1% in the quarter ending July 30 compared with the same period last year. Sales declined in almost all product categories, with the biggest drops in computing and…

For retailers, it is a season of discontent.From Walmart Inc. to Nordstrom Inc., retailers have a glut of inventory and are discounting items to clear out space for holiday goods. Many have already lowered profit expectations for the year and are working to cut costs as consumers are pulling back spending in categories such as apparel and home goods ahead of the key year-end shopping season. Best Buy Co. warned investors last month…

Apparel chains Victoria’s Secret VSCO -0.34% & Co. and Abercrombie & Fitch Co. ANF -6.49% reported declining quarterly sales and lowered their sales targets for the year as consumers shift their spending away from clothing and other discretionary items. The results, following lackluster earnings reports from many department stores and big-box chains, were weaker than investors…

Online luxury marketplace Farfetch Ltd. agreed to take a significant stake in rival e-commerce platform Yoox Net-a-Porter Group SpA, consolidating a lead it has built in digital luxury sales. Farfetch said it agreed to buy 47.5% of YNAP from Compagnie Financière Richemont SA, the owner of luxury jewelry lines such as Cartier, with an option to buy the remainder of Richemont’s stake. As part of the deal, Richemont said it had also sold a 3.2% stake in YNAP to Symphony Global LLC, an…

Macy’s Inc. M 5.70% became the latest retailer to lower its financial guidance for the year, citing risks of a steeper economic downturn and slowdown in consumer spending. The New York department-store chain on Tuesday said cutting its sales and earnings forecast also takes into account the markdowns and promotions the company thinks will be needed to get rid of old inventory. The revision comes despite the company posting…

Authentic Brands Group LLC said it has agreed to buy Ted Baker TED 17.08% PLC for the equivalent of $254 million, adding the struggling British fashion label to its stable of brands that include Brooks Brothers and Reebok. The New York-based company said Tuesday there were “significant growth opportunities for the Ted Baker brand in North America” in particular, and that taking the business private would enable a restructuring that…

H&M HM.B 0.06% resumed sales on a popular e-commerce platform in China, more than a year after the Swedish fashion brand was virtually erased from the Chinese internet after it expressed concerns about reports of forced labor in the country’s Xinjiang region. Chinese social-media users noticed this month that H&M Hennes & Mauritz AB reopened its official store on Tmall, one of the flagship e-commerce platforms run by…

Victoria’s Secret VSCO 4.16% spent the last year trying to shift from a brand associated with the male gaze to a company representing female empowerment. Many customers don’t know it made any changes at all. Most shoppers who participated in a study conducted by the lingerie seller in February weren’t able to identify Victoria’s Secret & Co. as the brand behind recent ads of models wearing its lingerie, according to internal research documents reviewed by The Wall…

Consumers are still splurging on Ralph Lauren polos and Jimmy Choo shoes, helping those brands buck the inventory troubles and spending shifts that have tripped up other retailers this year. Ralph Lauren Corp. said Tuesday that revenue rose 8% in its first quarter and is on track to rise about 11% for its fiscal second quarter. Capri Holdings Ltd. , which owns Versace and Jimmy Choo as well as Michael Kors, said quarterly revenue rose 8.5%, despite declines in China, a key market.…

Beauty company Glossier Inc. has reached a deal for Sephora stores and Sephora.com to carry its products next year, its first external retail partnership and a move that significantly expands the brand’s retail distribution. Sephora locations in the U.S. and Canada will begin carrying Glossier products beginning in early 2023, Glossier said Tuesday. Sephora, which is owned by LVMH Moët Hennessy Louis Vuitton SE, has thousands of shops across the U.S. and…