HBC, the owner of Saks Fifth Avenue, said on Friday it would launch the luxury department store’s e-commerce segment as a separate business following a $500 million infusion from a U.S. private equity firm.
The New York-based beauty conglomerate has announced the creation of its new Equity and Engagement Center of Excellence. The center will be led by Nicole Monson, who has been with the company since 2014.
American Eagle Outfitters said it expects current-quarter revenue and operating income to surpass last two years’ numbers, betting on high-growth brand Aerie that sells work-from-home favorites lingerie and loungewear.
UK supermarkets giant Sainsbury’s is to cut jobs with 1,150 roles at risk. It's restructuring in order to invest in its food ops and a number of departments will be affected, including clothing and general merchandise.
Chancellor Rishi Sunak has unveiled what has been touted as the most important budget statement in decades. And there's plenty in the latest announcement that directly impacts the fashion and retail sectors.
The fragrance maker announced Q4 net income of $14.7 million on Monday, representing an 80% increase from $8.2 million in the same period in the previous year. The company also raised its financial outlook for 2021.