Value-focused retail group Studio Retail has scaled back its full-year profit expectations after seeing a “solid” first half but “challenging trading conditions in Q3”, although womenswear has begun to recover.
The sports equipment retailer reported net sales of $2.75 billion in Q3, a figure that represented an increase of 13.9% compared to $2.41 billion in the prior-year period and glided past analysts’ expectations.
Nordstrom Inc said labor costs pinched its quarterly profit and warned of product shortages at its off-price stores heading into the holiday season, sending its shares down 23% in extended trading on Tuesday.
The San Francisco-based lifestyle retailer announced a net loss of $152 million, or $0.40 per diluted share, for the third quarter, on Tuesday, as the company struggled with ongoing global supply chain issues.
The American fashion retailer reported Q3 net sales of $905.2 million on Tuesday, a figure that represented an increase of 10% compared to $819.7 million in the prior-year period, led by a 17% rise in the United States.
Google is aiming to help the fashion industry become more sustainable and has linked with Stella McCartney, The Textile Exchange and the World Wide Fund for Nature on the Global Fibre Impact Explorer tool.
Karen Millen is expecting occasion-focused pieces to see strong demand this Black Friday with the retailer analysing Google search data and noting a surge of interest in special occasion clothing and accessories.
The fashion event that takes place at Paris' Porte de Versailles has partnered with trade fair operator Sportair to introduce sportswear and outdoor labels at its next edition, set to run January 21 through 24, 2022.
UK retail sales volumes edged up 0.8% month-on-month in October as sales by value rose 1.6%, the ONS said on Friday. And volumes were also 5.8% higher than their pre-pandemic levels, with value sales 8.9% higher.
The department store chain has teamed up with the sports merchandise company to launch licensed sports fan products from leagues including the NFL, NCAA, NBA, and MLB, on the Nordstrom.com e-commerce platform.