Farfetch Slashes Its Outlook For the Year

Farfetch Slashes Its Outlook For the Year

The year isn’t shaping up to be anything like Farfetch expected. The online luxury player pulled back significantly on its full-year guidance, citing Russia’s war in Ukraine, Covid lockdowns in China and the removal of markdown inventory from partner brands pushing for more full-price sales as factors hampering its business. The company said it now … Read more

As Americans splurge on dressing up again, retailers like Macy’s and Ulta benefit

As Americans splurge on dressing up again, retailers like Macy's and Ulta benefit

A Nordstrom employee fixes a floral dress on a mannequin in one of the retailer’s department stores. Ben Nelms | Bloomberg | Getty Images Out with sweatpants, in with blazers, lipstick and eye-popping prints on dresses. Americans are sprucing up their wardrobes and spending more on dressier clothing, makeup and accessories as they start going … Read more

Chanel to Open Private Stores for Top Clients as Sales Soar 50%

Chanel to Open Private Stores for Top Clients as Sales Soar 50%

Chanel reported 2021 revenues that jumped 50 percent year-on-year to $15.6 billion, rising 23 percent over 2019′s pre-pandemic levels. Operating profit nearly tripled, surging 170 percent to $5.5 billion. Fashion, watches and jewelery are driving momentum that has continued into the current year, chief financial officer Philippe Blondiaux said in an interview, while performance in … Read more

Will Burberry Take a New Direction?

Will Burberry Take a New Direction?

A New Direction at Burberry? Burberry reports full-year results May 18 The brand’s growth continues to trail peers almost 5 years into an attempted turnaround The market is waiting to see how new chief executive Jonathan Akeroyd might shake up the strategy When CEO Marco Gobbetti left Burberry last autumn, the British brand’s years-long plan … Read more

Fashion’s Bumpy Road Ahead | BoF

Fashion's Bumpy Road Ahead |  BoF

An Earnings Surprise Many fashion brands and retailers will report first-quarter financial results in the coming weeks, with Boohoo, Hugo Boss and Adidas among those up this week Inflation, supply chain problems, China’s lockdowns and other factors are contributing to an uncertain outlook for these companies It’s not all bad out there: some big brands, … Read more

Rent the Runway (RENT) Q4 2021 loss

Rent the Runway (RENT) Q4 2021 loss

Rent the Runway sees the more than 2 million weddings planned for this year, and all the parties that come with them, as being a massive boon to its business. Plus, according to co-founder and Chief Executive Jennifer Hyman, Rent the Runway is reaping the benefits of consumers seeking value and stability during times of … Read more

Carvana, First Solar, Generac and more

Carvana, First Solar, Generac and more

Take a look at some of the biggest movers in the premarket: Carvana (CVNA) – Carvana was downgraded to “sector perform” from “outperform” at RBC Capital Markets, with the price target for the online car seller’s stock cut to $138 per share from $155 per share. RBC bases its call both on valuation and potential … Read more

Bear market rally setting stage for correction: Morgan Stanley warns

Bear market rally setting stage for correction: Morgan Stanley warns

A major Wall Street firm is on correction watch. Despite the latest market bounce, Morgan Stanley’s Mike Wilson is bracing for an S&P 500 decline of at least 13% between now and September. Wilson cited technical headwinds on CNBC’s “Fast Money” on Monday. “It does have all the hallmarks of what I would call a … Read more

2-year Treasury yield tops 10-year rate, a ‘yield curve’ inversion that could signal a recession

2-year Treasury yield tops 10-year rate, a 'yield curve' inversion that could signal a recession

Traders work on the floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, US, March 7, 2022. andrew kelly | Reuters The 2-year and 10-year Treasury yields inverted for the first time since 2019 on Thursday, sending a possible warning signal that a recession could be on the horizon. The bond … Read more