And another bites the dust.
Women's apparel chain The Limited began closing all 250 of its stores across the United States and is slashing 4,000 jobs, the latest casualty of shopping's move online and the growth of fast fashion chains.
And just like Chico's, Ann Taylor and other women's apparel stores struggling with big drops in sales, The Limited has been struggling with shifts in consumer behavior and interest, a greater number of rivals and longer store leases.
"In an increasingly…
It looks like it's curtain time for The Wet Seal.
The struggling teen retailer is closing its 171 stores, along with its headquarters in Irvine, Calif., after being unable to obtain the necessary cash infusion or find a buyer, according to several media reports.
The news comes on the heels of another teen - focused apparel retailer, The Limited, shutting down its operations.
"Unfortunately, the company was unable to obtain the necessary capital or identifying a strategic partner, and was…
Minutes before Dow Jones reported that Kate Spade is exploring a sale of its business, one options trader purchased nearly 2,000 calls in the accessories label - resulting in a quick $320,000 profit.
According to CNBC "Fast Money Halftime Report" trader Jon Najarian, thousands of Kate Spade's call options were purchased at 12:23 p.m. ET Wednesday - roughly 10 minutes before headlines of a potential sale hit. A call gives the buyer an option to purchase assets at already agreed-upon price on or…
It's a rough time for many teen apparel retailers and the holiday season may not bring much relief.
American Eagle Outfitters Inc. on Wednesday issued a weaker than expected forecast for the fourth quarter as its CEO cited a "tough" retail environment. Its warnings issues similar statements from the likes of Abercrombie & Fitch and Gap.
But the news was all bad for American Eagle. The retailer's net profit for the third quarter rose to $75.76 million, or 41 cents per share, from $74.11…
Move over Black Friday.
The biggest shopping day in terms of holiday sales is expected to be Friday, Dec. 23, while the biggest day in terms of store traffic is expected to be Saturday, Dec. 17, according to RetailNext Inc. It's the first time in many years that Black Friday failed to top either of the lists.
"As retailers have continued the trend to open more stores on Thanksgiving Day, it has pilfered away both sales and traffic from Black Friday," said Shelley E. Kohan, VP of retail…
Budget fashion retailer Hennes & Mauritz was upbeat about prospects for profitability next year but a fall in third-quarter earnings and weak September sales sent the retailer's shares to a three-month low on Friday.
H&M's results contrast with Zara owner Inditex which has consistently performed more strongly than its Swedish rival. Inditex has been able to outperform H&M in part because it can react more quickly to shifts in customer demand, making it less exposed to unexpected…
Construction spending in the retail sector saw a dip in June, according to a report by the Associated General Contractors of America, but the first half of the year recorded an overall gain.
Commercial (which includes retail, warehouse, and farm) construction declined 1.6% in June, per the report, but climbed 8.6% year-to-date. Association official said spending appears to have leveled off after a strong early start to the year prompted by mild winter weather conditions in many parts of the…
Gap’s online sales grew 1.4% in the fourth quarter.
Online sales were up slightly and offline sales were off by a lot for Gap Inc. in the fourth quarter and its full fiscal year that ended Jan. 30.
Gap, No. 18 in the 2015 Internet Retailer Top 500, reported Thursday online sales of $2.530 billion during its fiscal year, up 1.1% from $2.503 billion a year earlier. For the fourth quarter, the apparel retailer booked $803 million in web sales, an increase of 1.4% from $792 million a year earlier.
…News about the retail industry.
Page Options