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May 14, 2021

Apparel Retail

Poshmark’s first-quarter sales rise 42% as sticker-conscious shoppers turn to used clothes

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CNBC – For more and to sign up click here Rafael Henrique | LightRocket | Getty Images Poshmark on Wednesday reported first-quarter revenue growth of 42%, as consumers turned to the secondhand site to refresh their wardrobes without breaking the bank. “There’s a real meaningful shift as people are preparing......

L Brands to spin off Victoria’s Secret by August, hoping to nab higher valuation

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CNBC – For more and to sign up click here Shoppers pass in front of a Victoria’s Secret store at a mall in San Diego, California, April 22, 2021. Bing Guan | Bloomberg | Getty Images L Brands said Tuesday it will spin off its Victoria’s Secret brand rather than......

Mall owner Simon’s CEO sees shopper ‘euphoria’ as people return to stores

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CNBC – For more and to sign up click here Shoppers ascend and descend escalators at the King of Prussia Mall, owned by Simon Property Group, United State’s largest retail shopping space, in King of Prussia, Pennsylvania. Mark Makela | Reuters The biggest U.S. mall owner Simon Property Group says......

Adidas upgrades outlook for 2021 with sales expected to grow almost 20%

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CNBC – For more and to sign up click here People in face masks walk in a street during an outbreak of the 2019-nCoV coronavirus. Artyom Ivanov | TASS via Getty Images LONDON — Adidas is more confident about sales this year as it notes stronger-than-expected demand for its products......

Life is Good almost filed for bankruptcy last year. Here’s what CEO says saved the retailer

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CNBC – For more and to sign up click here Life is Good was on the verge of filing for bankruptcy protection last year, according to its CEO, but the retailer managed to overhaul its business strategy in a matter of weeks to have its best year ever during the......

Under Armour shares rise as retailer hikes full-year outlook, sees demand returning

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CNBC – For more and to sign up click here Shoppers pass an Under Armour store in White Plains, New York. Scott Mlyn | CNBC Under Armour on Tuesday raised its sales and profit outlook for the full year, as the sports apparel maker sees demand for its brand roaring......

U.S. retailers scramble to crack the code on livestream shopping events

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CNBC – For more and to sign up click here Source: Bloomingdale’s PR On a recent weeknight, Jimmy Choo’s creative director, Sandra Choi, logged into Zoom to broadcast live to dozens of Bloomingdale’s customers. The livestreamed event, organized by the department store, ran for about 45 minutes, during which Choi......

Retail stocks surge as Florida and New York announce plans to lift Covid restrictions

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CNBC – For more and to sign up click here A Gap store in New York, August 2, 2020. Scott Mlyn | CNBC A number of retail stocks surged Monday as investors looked for ways to buy into the economy reopening, after several large states further loosened Covid restrictions or......

Tiffany is selling men’s engagement rings for the first time

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CNBC – For more and to sign up click here Tiffany & Co. announced the debut of its first-ever men’s engagement ring. Source: Tiffany PR He said “yes.” Tiffany & Co. announced Friday the debut of its first-ever men’s engagement ring, as it looks to tap into a new market......

Here’s why Amazon is moving its annual Prime Day shopping event earlier in the summer

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CNBC – For more and to sign up click here Amazon on Thursday confirmed that its annual Prime Day deals event will be shifting earlier this year, as the e-commerce giant looks to boost spending in what is normally a slower time in the retail calendar. The company has yet......

Shoemaker Allbirds reportedly in talks with banks for IPO as public market heats up

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CNBC – For more and to sign up click here A woman walks past an Allbirds store in the Georgetown neighborhood of Washington, D.C., on Tuesday, Feb. 16, 2021. Al Drago | Bloomberg | Getty Images The trendy shoe brand Allbirds is in the process of interviewing banks in preparation......

Crocs shares soar as shoe maker raises 2021 sales outlook, sees growth of 40% to 50%

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CNBC – For more and to sign up click here Crocs store in New York City. Michael Brochstein | SOPA Images | LightRocket | Getty Images Crocs shares shot up more than 8% Tuesday after the shoe maker increased its revenue outlook for the full year and reported record first-quarter......

Investors may have to tune out noise from pandemic booms and busts as they gauge earnings reports

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CNBC – For more and to sign up click here A shopper walks by shelves in the paper products aisle of a store in Burbank, California, November 19, 2020. Robyn Beck | AFP | Getty Images In a typical earnings season, the rules of the game for investors can be......

Department stores like Nordstrom and Macy’s are still Americans’ favorite place to buy shoes

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CNBC – For more and to sign up click here The women’s shoe floor in Nordstrom’s flagship department store location in New York City features a cocktail bar in the center. Source: Nordstrom America’s department stores might be losing customers in the apparel aisles and at the beauty counters, but......

Gap is taking its Athleta workout brand to Canada, rival Lululemon’s home turf

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CNBC – For more and to sign up click here An employee rings up a customer’s purchases at the Athleta store in New York. Ron Antonelli | Bloomberg | Getty Images Gap Inc. announced Tuesday plans to sell its Athleta brand in Canada, rival Lululemon‘s home turf. It marks the......

The post-pandemic spending spree has begun. Here are 6 things Americans are buying

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CNBC – For more and to sign up click here Shoppers wearing protective masks carry bags on Market Street in San Francisco, California, on Wednesday, April 14, 2021. David Paul Morris | Bloomberg | Getty Images Shoppers are emerging from their cocoons and aspiring to switch it up from sweatpants,......

American Eagle Outfitters CEO expects ‘Roaring 20s’-like boom for malls post-pandemic

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CNBC – For more and to sign up click here American Eagle Outfitters CEO Jay Schottenstein said Thursday that the U.S. shopping mall “is not dead” and that the decade is shaping up to be a boon for business. The apparel retailer anticipates extending its double-digit comparable sales growth streak......

Stitch Fix shares fall as company’s founder Katrina Lake steps down as CEO

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CNBC – For more and to sign up click here Katrina Lake, CEO of Stitch Fix Adam Jeffery | CNBC Stitch Fix shares fell more than 5% Tuesday afternoon after the company announced that founder Katrina Lake would step down as CEO. The company’s president, Elizabeth Spaulding, will start as......

Crumpled clothes and bare shelves: As retailers like Walmart, Macy’s woo customers back, some have to clean up shop

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CNBC – For more and to sign up click here A man shops for clothes in Macy’s department store in Herald Square, New York. Trevor Collens | AFP | Getty Images Crumpled piles of clothes. Unpacked boxes of inventory. Half-empty shelves. And employees rushing through aisles to grab items for......

Four ways consumer spending will change once more people are vaccinated

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CNBC – For more and to sign up click here Shoppers wearing protective masks exit from a Hennes & Mauritz (H&M) store in the Herald Square area of New York, U.S., on Thursday, Aug. 6, 2020. Nina Westervelt | Bloomberg | Getty Images As more people receive the Covid-19 vaccine,......

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