ASOS faced “challenging market conditions” in the last four months of 2021 yet still managed to post revenue growth, it said on Thursday as it also announced plans to list its shares on London's Main Market.
Retailers' longer return policies, launched during the pandemic to lure consumers, could leave them facing higher costs if shoppers bring back a record-setting $112bn in gifts bought during the long holiday season.
River island is boosting its presence abroad with the British fashion chain opening in Canada in a deal with major retailer The Bay that currently takes in the webstore but will be expanded to stores next year.
Shares of Nordstrom Inc and Gap Inc slumped more than 20% on Wednesday as warnings of product shortages during the crucial holiday season raised fears that the retailers were losing out to better-prepared competitors.
Nordstrom Inc said labor costs pinched its quarterly profit and warned of product shortages at its off-price stores heading into the holiday season, sending its shares down 23% in extended trading on Tuesday.