An employee arranges Nike basketball shoes on display at the House Of Hoops by Foot Locker retail store at the Beverly Center in Los Angeles. Patrick T. Fallon | Bloomberg | Getty Images During a recent event celebrating Foot Locker’s 50th anniversary in New York City, it was hard to imagine that the legacy sneaker … Read more
NEW YORK CITY — In a federal courtroom on Monday, storied fashion designer Michael Kors spoke about the steep challenge of staying relevant in a world where brands can rise and fall based on viral TikTok videos and photos of handbags on the arms of celebrities such as Taylor Swift and Beyoncé. Kors kicked off … Read more
Pedestrians walk past a Coach store and a Michael Kors store. Scott Olson | Getty Images Just a few miles from the birthplace of Coach in New York City, a federal judge will soon decide whether its owner Tapestry can become a bag behemoth — in a decision that will weigh big questions about how … Read more
When viewers tune in to the 2024 MTV VMAs on Wednesday night, they’ll be able to shop the outfits and designer looks they’re seeing in real time, as legacy media companies look for new ways to monetize content. As part of a new partnership between Paramount Global — the parent company of cable TV network MTV … Read more
Traders work on the floor of the New York Stock Exchange during morning trading on August 06, 2024 in New York City. Michael M. Santiago | Getty Images Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it … Read more
There’s no room for price gouging in an ultracompetitive business like retail, Target CEO Brian Cornell said Wednesday. In an interview on CNBC’s “Squawk Box,” the retail chief disputed campaign talking points accusing grocers of inflating prices. He said retailers have to be responsive to customers or risk losing business. He was asked by CNBC’s … Read more
TJX Companies raised its full-year guidance on Wednesday after posting another quarter of strong sales, but its outlook still fell just short of Wall Street’s expectations. The discounter behind Marshalls, HomeGoods and TJ Maxx is now expecting full-year earnings to be between $4.09 and $4.13, compared with estimates of $4.14, according to LSEG. For the … Read more
Macy’s cut its full-year sales forecast Wednesday, as the department store operator said it is contending with selective shoppers and more promotions. The retailer posted a mixed quarter, as it topped Wall Street’s earnings expectations but missed on revenue. Macy’s said it now anticipates net sales of between $22.1 billion and $22.4 billion, which is … Read more
A customer pushes her shopping cart through the aisles at a Walmart store in the Porter Ranch section of Los Angeles. Kevork Djansezian | Reuters Prices of many groceries and other items have fallen at Walmart, according to CEO Doug McMillon. Yet the leader of the nation’s largest retailer said Thursday that inflation “has been … Read more
Home Depot on Tuesday topped quarterly expectations, but cautioned that sales will be weaker than expected in the back half of the year as high interest rates and consumer uncertainty dampen demand. The home improvement retailer said it now expects full-year comparable sales to decline by 3% to 4% compared with the prior fiscal year. … Read more
