Gap Sales Miss Expectations After Old Navy, Athleta Fall Short
The brands Gap and Banana Republic beat comparable sales estimates.
Shenzhen, China
Financial Markets
Topsports to Seek Approval Next Week for $1 Billion IPO
The sportswear retailer is planning to make its Hong Kong stock market debut, seeking to raise around $1 billion.
Topsports to Seek Approval Next Week for $1 Billion IPO
The sportswear retailer is planning to make its Hong Kong stock market debut, seeking to raise around $1 billion.
China
Tencent's $65B Wipeout Bodes Ill for Hong Kong Stocks
The Chinese tech heavyweight has plunged 14 percent since last month’s high.
Tencent's $65B Wipeout Bodes Ill for Hong Kong Stocks
The Chinese tech heavyweight has plunged 14 percent since last month’s high.
China
Tencent First-Quarter Profit Beats Estimates
Profit rose to 27 billion yuan ($3.93 billion), compared with the average estimate of 19.4 billion yuan from 13 analysts.
Tencent First-Quarter Profit Beats Estimates
Profit rose to 27 billion yuan ($3.93 billion), compared with the average estimate of 19.4 billion yuan from 13 analysts.
Technology
Tencent Profit Beats Estimates
The company almost doubled net income to a record $3.3 billion driven by its vast social networks WeChat and QQ.
Tencent Profit Beats Estimates
The company almost doubled net income to a record $3.3 billion driven by its vast social networks WeChat and QQ.
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China
Shenzhen Ellassay Fashion Acquires Vivienne Tam’s Brand Rights in China
The Chinese fashion and apparel company, which acquired French brand Iro in March, is aiming to become a high-end fashion group.
Shenzhen Ellassay Fashion Acquires Vivienne Tam’s Brand Rights in China
The Chinese fashion and apparel company, which acquired French brand Iro in March, is aiming to become a high-end fashion group.
China
Alibaba Singles' Day Sales Pass 2015, But Growth Slows
Alibaba Group Holding Ltd's Singles' Day sales surged past last year's 91.2 billion yuan ($13.85 billion) total with nearly nine hours left on the clock.
Alibaba Singles' Day Sales Pass 2015, But Growth Slows
Alibaba Group Holding Ltd's Singles' Day sales surged past last year's 91.2 billion yuan ($13.85 billion) total with nearly nine hours left on the clock.
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The News in Brief
Fashion Startup Founder Pleads Guilty in $300 Million Fraud
Christine Hunsicker admitted she falsified financial statements to promote CaaStle Inc. as a valuable, growing business when in reality it was struggling.
Victoria’s Secret Forecasts Its Best Year Since L Brands Split
The underwear company is anticipating net sales of at least $6.85 billion in the current fiscal year, exceeding analyst estimates and marking the highest revenue since its split from L Brands Inc in 2021.
Uniqlo Aims to Grow Tenfold in India With Summer-Centric Clothes
The Japanese brand is accelerating its expansion in India to capture a greater share of the rapidly growing apparel market and affluent consumer base.
Oasis Pressures Kao in Latest Japan Activist Investor Push
Activist fund Oasis Management Co. is calling on the Japanese personal care company to convene an extraordinary general meeting, seeking a probe into its supply-chain risk management and internal control.
American Eagle Forecasts Sales Growth Above Estimates on Demand From Wealthy Shoppers
The retailer surpassed annual sales forecasts but expects a $60 million drag from import tariffs in the first half of 2026.
Missoni Family Exits Namesake Brand
The transaction gives FSI, a Milan-based private equity fund, a controlling share in the Italian luxury house, as more founder-owned brands turn to investors to fund growth and weather a tough global market.
Ross Stores Forecasts Annual Sales Above Estimates on Resilient Demand for Discounted Apparel
Spend growth at off-price chains is among the strongest in retail, with gains across all income segments.