Saks Finalises Acquisition of Neiman Marcus Group
The $2.7 billion merger counts Amazon, G-III Apparel Group and Authentic Brands Group as investors.
The Week Ahead
This Week: Nike’s Elliott Hill Takes the Stage
The company’s third-quarter earnings call will provide one of the first opportunities for CEO Elliott Hill to lay out his turnaround plan.
This Week: Will Zara’s Charmed Run Continue?
Inditex reports third-quarter results that are expected to show steady growth at its biggest brand, which has built strong defenses against rivals at the top and bottom of the market.
This Week: Chanel Under the Microscope
The French couture and beauty giant will stage a major show in Hangzhou on Dec. 3, amid a severe slowdown in luxury demand and signals that a new designer will soon be announced.
This Week: On Black Friday, It’s Shein and Temu Versus the World
Spending has been sluggish, but retailers have a chance to make up for lost time in a compressed holiday season - if they can find an answer to their online competition.
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This Week, Gap Proves Its Staying Power
Gap’s earnings this week will present a clearer picture of how well Richard Dickson’s attempts to bring Gap back in the fashion conversation is sticking with consumers.
This Week: Burberry Goes Back to Basics, Again
When times get tough, the British brand tends to lean more heavily on its heritage. A traditionalist makeover is expected to be announced alongside what are expected to be bleak earnings on Nov. 14.
This Week: Fashion’s Stake in the US Election
The industry has mostly tried to stay out of a close, bitter race, while quietly preparing for a potential Trump victory.
This Week: Adidas, Prada Offer a Respite From a Grim Earnings Season
A slew of brands should report strong results even amid an unpredictable economy and slumping luxury sales.
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This Week: How Deep Will Luxury’s Downturn Go?
Following LVMH’s sales miss, Kering, Hermès and Zegna will offer further insights on how plummeting demand from China is playing out across the sector.
This Week: Has Luxury Hit Bottom?
LVMH kicks off earnings season for the sector on Oct. 14, and will likely offer some guidance on whether the category’s problems represent a cyclical bump in the road, or a structural shift.
This Week: The Holiday Shopping Season Begins
Consumers are getting choosier about where they spend. Retailers will need to work extra hard to ensure it’s in their stores, and not competitors’.
This Week: Nike’s Next Chapter Begins
Quarterly earnings on Tuesday are likely to paint a bleak picture, but also provide the new regime an opportunity to lay groundwork for a recovery.
The News in Brief
Model Rights Bill Signed into Law in New York
The new law will give models working in the state greater protection from exploitation, harassment and AI.
L’Oréal Acquires South Korea’s Dr.G in Skincare Deal With Migros
French cosmetics giant L’Oréal said on Monday it had agreed to buy Gowoonsesang Cosmetics, which includes South Korean skincare brand Dr.G., from Swiss retailer Migros.
Boohoo Shareholders Vote to Block Mike Ashley From Joining Board
Investors representing 64% of Boohoo’s stock voted against appointing Ashley and Mike Lennon at a special meeting on Friday morning called by Ashley’s Frasers Group.
Walmart Says to Miss Climate Targets as Green Challenges Mount
Previous pledges to reduce operational greenhouse gas emissions by 65% by 2030 and 35% by 2025 are probably not achievable, and the company will consider reviewing its climate targets next year.
Lilly’s US Weight-Loss Drug Shortage Ends, Curtailing Copycats
Sales of cheaper compounded versions must stop within 90 days. Novo’s rival shots, Ozempic and Wegovy, remain in short supply.
Prada Group and EssilorLuxottica Renew Ten-Year Eyewear License
Building on an existing twenty-year partnership, Prada Group and the Franco-Italian eyewear conglomerate EssilorLuxottica have renewed their licensing agreement for ten years.
Sofie Pavitt Face Gets Picked Up By Sephora
The “acne whisperer” for A-list Gen Z celebrities inks her biggest retail partnership yet.