Walmart Inc. has issued a statement confirming discussions with Microsoft involving ByteDance Ltd.’s TikTok service in the United States. The retail giant said: “We believe a potential relationship with TikTok U.S. in partnership with Microsoft could add this key functionality and provide Walmart with […]

INTERVIEW Last year, the Munich-based online fashion retailer Mytheresa expanded its management team from two to five people. Among these newly appointed leaders is Isabel May, chief customer experience officer & managing director at Mytheresa, and the only woman on the leadership team. As part of the […]

Swedish payment provider Klarna has seen its losses widen sevenfold for the first half of the year as the fast-growing company continues to invest in its global expansion. The firm reported a net loss of 522 million swedish krona (46 million pounds) between January and June, compared to the deficit […]

Intu SGS, the holding company for Intu Watford, Lakeside, Victoria Centre in Nottingham and Braehead in Glasgow, has secured 30 million pounds of new investment and waivers on financial covenants. Creditors have approved a new super senior facility of up to 30 million pounds as well as other previously […]

Net sales at Gap Inc., were down 18 percent year-over-year to 3,275 million dollars, reflecting a 95 percent increase in online sales, offset by a 48 percent decline in store sales, which were impacted by partial closures during the quarter. During May, the company said in a statement, Gap began reopening […]

Stockmann-owned Lindex has announced cost-cutting measures and jobs cuts following a drop in Q2 revenue. The Swedish fashion chain will aim to reduce its costs globally by approximately 14.5 million euros, which it said will mainly be realized from 2021 onwards. “The savings will be achieved, among […]

For the second quarter, Tiffany & Co. returned to profitability and saw sequential improvements in monthly worldwide net sales from May to July. Worldwide net sales declined 29 percent from the prior year to 747 million dollars and comparable sales declined 24 percent from the prior year; on a constant-exchange-rate […]

Total sales for the second quarter at Destination XL decreased 38 percent to 76.4 million dollars. The company said in a statement that given the nature of the pandemic, it experienced headwinds due to the virus during the quarter in critically important states, which produce higher than average sales. […]

Abercrombie & Fitch Co., for the second quarter ended August 1, 2020 has reported net sales of 698 million dollars, down 17 percent compared to last year, reflecting the adverse impact of Covid-19 on store sales. The company said in a statement that digital net sales increased 56 percent to 386 […]

Hotter Shoes owner Electra Private Equity PLC has announced it will pump 2 million pounds into the British footwear retailer as part of its company voluntary arrangement (CVA). The retailer got the green light last month from creditors to go ahead with its CVA which will see 46 of its stores permanently […]

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