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.
Cincinnati, United States
Retail
Macy's to Cut 3,900 Jobs to Help Counter Covid-19 Losses
The department store chain said it expects to save about $365 million in fiscal 2020 as a result of the layoffs.
Macy's to Cut 3,900 Jobs to Help Counter Covid-19 Losses
The department store chain said it expects to save about $365 million in fiscal 2020 as a result of the layoffs.
Retail
Macy's Warns of up to $1 Billion Quarterly Loss
The department store operator forecast first-quarter sales between $3 billion to $3.03 billion, down from $5.50 billion a year earlier.
Macy's Warns of up to $1 Billion Quarterly Loss
The department store operator forecast first-quarter sales between $3 billion to $3.03 billion, down from $5.50 billion a year earlier.
Retail
Macy’s Sales Beat Estimates
The positive results follow the department store's announcement that it will close several offices and stores to cut costs and boost growth.
Macy’s Sales Beat Estimates
The positive results follow the department store's announcement that it will close several offices and stores to cut costs and boost growth.
Retail
Macy's Cuts Forecast After Sales Drop
The department store chain posted a 3.5 percent decline in same-store sales for Q3, compared to the 1 percent drop analysts had expected.
Macy's Cuts Forecast After Sales Drop
The department store chain posted a 3.5 percent decline in same-store sales for Q3, compared to the 1 percent drop analysts had expected.
ADVERTISEMENT
Retail
Macy's Sees Savings of up to $550 Million
As the retailer spends heavily on remodelling stores and building online businesses, targeted promotions and better pricing have projected large savings in the next two to four years.
Macy's Sees Savings of up to $550 Million
As the retailer spends heavily on remodelling stores and building online businesses, targeted promotions and better pricing have projected large savings in the next two to four years.
Retail
Macy’s CEO Assures Tariffs Will Only Hit Profits by 5 Cents a Share
Chief Executive Jeff Gennette said looming US tariffs will reduce per-share profits by a maximum of five cents and assures it is not a big impact.
Macy’s CEO Assures Tariffs Will Only Hit Profits by 5 Cents a Share
Chief Executive Jeff Gennette said looming US tariffs will reduce per-share profits by a maximum of five cents and assures it is not a big impact.
Beauty
P&G Shares Rise After Posting Best Sales Growth in at Least a Decade
The grooming business increased sales by 4 percent, shoring up a key area of concern for the company that had failed to keep pace with other units.
P&G Shares Rise After Posting Best Sales Growth in at Least a Decade
The grooming business increased sales by 4 percent, shoring up a key area of concern for the company that had failed to keep pace with other units.
Beauty
P&G Sales and Profit Beat Estimates
The beauty business saw a 9 percent rise in organic sales, helped by the premium SK-II brand.
P&G Sales and Profit Beat Estimates
The beauty business saw a 9 percent rise in organic sales, helped by the premium SK-II brand.
ADVERTISEMENT
Retail
Macy's Shares Rise as Investors Applaud Plan to Streamline Business
While the company said it can achieve growth in comparable-store sales, it won’t come immediately.
Macy's Shares Rise as Investors Applaud Plan to Streamline Business
While the company said it can achieve growth in comparable-store sales, it won’t come immediately.
Retail
Macy’s CEO on Reinventing the Store
In a bid to thwart off-price competitors and refresh the store experience, Jeff Gennette is focused on removing pain points and friction while tapping into the magic of radiated sales.
Macy’s CEO on Reinventing the Store
In a bid to thwart off-price competitors and refresh the store experience, Jeff Gennette is focused on removing pain points and friction while tapping into the magic of radiated sales.
Retail
Macy's Boosts Annual Earnings Forecast Ahead of Holiday Season
Despite increasing competition online, the retailer surpassed expectations last quarter and has upped its adjusted earning forecast to $4.10 to $4.30 per share.
Macy's Boosts Annual Earnings Forecast Ahead of Holiday Season
Despite increasing competition online, the retailer surpassed expectations last quarter and has upped its adjusted earning forecast to $4.10 to $4.30 per share.
Beauty
Procter & Gamble Posts Sales Rise
The company reported a surprise rise in first-quarter sales to $16.69 billion after strong demand for its beauty products and cleaning supplies.
Procter & Gamble Posts Sales Rise
The company reported a surprise rise in first-quarter sales to $16.69 billion after strong demand for its beauty products and cleaning supplies.
The News in Brief
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.
Abercrombie & Fitch Forecasts Muted Annual Sales Amid Tariff Uncertainty
The retailer said it was accounting for the 15 percent tariff announced by US president Donald Trump after the Supreme Court struck down most of his earlier tariffs.