Ralph Lauren to lay off thousands as pandemic dulls luxury fashion
(Reuters) - Ralph Lauren Corp said on Tuesday it would cut 15% of its global workforce by the end of this fiscal year as the luxury retailer strives to lower costs and ride out the impact of COVID-19 on sales and shopping habits.
Kohl's Q2 digital sales spike nearly 60% amid omnichannel push
Kohl's on Tuesday reported that second quarter total revenue dropped 23.1% year over year to $3.4 billion. Net sales fell 22.9% in the quarter to $3.2 billion, compared to a 3.3% decline in the same period last year. Digital sales grew 58%, according to a conference call presentation.
JenniferLopez Is Designing a $495 Bag for Coach — Here’s How Else the Brand Plans Bounce Back
As expected, Coach’s quarterly sales drop was steep, reflecting the deep impact of the pandemic. But executives at the Tapestry-owned label are confident the brand has all the right ingredients in place to bounce back during the fall and holiday seasons.