Gap says still planning Old Navy spin-off as CEO departs
(Reuters) - Gap Inc (GPS.N) said on Friday it was sticking with plans to spin off its Old Navy brand into a separate company, as Wall Street analysts questioned its commitment to the project following the surprise exit of Chief Executive Officer Art Peck.
Will Barneys’ Liquidation Sales Impact Rival Retailers This Holiday Season?
As Barneys New York ushers in a new chapter with Authentic Brands Group’s acquisition of its intellectual property, the chain’s department stores have already begun the process of offloading its luxury goods at a discount.
The RealReal’s 55% sales spike shows promise, challenges of resale
The RealReal is gaining traction and seeing growth as shoppers increasingly prioritise sustainability when making fashion choices, blunting the stigma of buying secondhand goods. But even as the company inks new brand partnerships and attracts new customers, profitability remains out of reach.
Tapestry on Tuesday reported that first quarter net sales fell 2% to $1.36 billion. By brand, Coach net sales rose 1% year over year to $966 million, gaining some 100 basis points through global e-commerce; Kate Spade net sales fell 6% to $306 million; and Stuart Weitzman net sales fell 9% to $87 million.
Coach powers Tapestry profit beat, tariffs to weigh on Kate Spade brand
(Reuters) - Tapestry Inc (TPR.N) reported quarterly profit above market expectations on Tuesday, but warned of weakness at its Kate Spade business due to tariffs on apparel and jewelry imported from China.
The Baltimore-based maker of athletic footwear, apparel and equipment is facing a federal accounting probe though sluggish sales—which forced the firm to lower its FY 2019 revenue guidance—could be an even bigger concern.
Barneys Inches Closer To Liquidation As Bankruptcy Court Approves Authentic Brands Bid
Bye bye, Barneys. At least as we now know it.
A bankruptcy court judge today approved a $271 million bid from Authentic Brands for Barneys’ intellectual property. The licensing company—which owns Aéropostale, Juicy Couture, Nine West and, after its purchase in May, Sports Illustrated—emerged as the leading bidder last week.