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June 8, 2021

Shopping malls

Stitch Fix shares soar as sales top estimates, styling service raises full-year outlook

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CNBC – For more and to sign up click here The Stitch Fix application for download in the Apple App Store on a smartphone arranged in Hastings-on-Hudson, New York, U.S., on Saturday, June 5, 2021. Stitch Fix Inc. is scheduled to release earning on June 7. Tiffany Hagler-Geard | Bloomberg......

Lululemon first-quarter sales rise 88%, topping estimates, as store traffic rebounds

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CNBC – For more and to sign up click here Pedestrians wearing protective masks walk past a Lululemon store in San Francisco, California, on Monday, March 29, 2021. David Paul Morris | Bloomberg | Getty Images Lululemon Athletica said Thursday fiscal first-quarter revenue soared 88%, topping analysts’ estimates, as shopper......

Express stock tumbles after retailer announces plan to sell 15 million shares

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CNBC – For more and to sign up click here A shopper carries an Express Inc. bag while walking in the Center City neighborhood of Philadelphia Pennsylvania, U.S., on Friday, June 24, 2016. Charles Mostoller | Bloomberg | Getty Images Stock of the retailer Express tumbled more than 22% on......

Rent the Runway enters $33 billion fashion resale market as it looks to build back from pandemic lows

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CNBC – For more and to sign up click here Jennifer Hyman, Rent the Runway  Scott Mlyn | CNBC Rent the Runway said Wednesday it is expanding into resale, a major evolution for the fashion rental platform. Customers will soon be able to buy used designer clothes from the business......

Gap sales top pre-pandemic levels, as turnaround efforts gain traction, retailer raises 2021 outlook

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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 Gap said Thursday its fiscal first-quarter sales surpassed pre-pandemic levels, as shoppers turned to Old Navy and Athleta to refresh their wardrobes for summer. The retailer raised......

Retail conglomerate Authentic Brands Group readies for summer IPO

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CNBC – For more and to sign up click here People enter a Forever 21 store at a shopping mall in Montebello, California on September 30, 2019 a day after the fashion retailer filed for Chapter 11 bankruptcy protection. Frederic J. Brown | AFP | Getty Images The retail conglomerate......

Walmart and Gap are coming together to create an exclusive home decor brand

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CNBC – For more and to sign up click here Gap and Walmart are launching an exclusive home decor brand, Gap Home. It will launch on the big-box retailer’s website and eventually be sold at stores. Walmart Walmart has inked a multiyear deal with Gap to create a home goods......

American Eagle is the latest apparel retailer to crush estimates as teens head back to the mall

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CNBC – For more and to sign up click here A shopper wearing a protective mask walks past a sale sign at an American Eagle Outfitters Inc. clothing store at Westfield San Francisco Centre in San Francisco, California, U.S., on Thursday, June 18, 2020. Michael Short | Bloomberg | Getty......

Nordstrom shares fall as earnings and 2021 outlook disappoint

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CNBC – For more and to sign up click here Nordstrom reported Tuesday better-than-expected fiscal first-quarter sales, as shoppers showed up to its stores again to buy new shoes, sunglasses and swimwear for social outings. But its stock tumbled around 7% in extended trading as the retailer booked a wider-than-expected......

Peloton to invest $400 million to build its first U.S. manufacturing facility in Ohio

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CNBC – For more and to sign up click here Peloton said Monday it will invest $400 million to build its first factory in the United States to speed up production and delivery of its popular cycles and high-end treadmill machines. After vetting a number of locations, it selected a......

Kohl’s sales jump nearly 70%, soaring past estimates, retailer hikes full-year outlook

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CNBC – For more and to sign up click here Vehicles sit parked in front of a Kohl’s department store in Ashland, Ky. Luke Sharrett | Bloomberg | Getty Images Kohl’s on Thursday reported first-quarter earnings and sales that topped analysts’ estimates, and raised its outlook for the full year,......

Victoria’s Secret parent L Brands posts larger-than-expected profit as retailer sells more full-price items

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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 Victoria’s Secret parent L Brands on Wednesday reported first-quarter earnings and sales that topped......

Under Armour to raise hourly wages to $15 for more than 8,000 retail, distribution workers

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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 announced Wednesday it is raising wages for hourly retail workers to $15 in the United States and Canada, impacting more than 8,000 jobs.......

Macy’s CEO says its robust sales gains aren’t a ‘short-term pop’

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CNBC – For more and to sign up click here Jeff Gennette, CEO of Macy’s. Getty Images Macy’s said Tuesday that the huge sales gains it posted in the first quarter aren’t a fluke. “We don’t see this as a short-term pop,” Chief Executive Jeff Gennette said during an earnings......

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......

Peloton stock sheds $4 billion in market value in 1 day over its treadmill debacle

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CNBC – For more and to sign up click here Maggie Lu uses a Peloton Tread treadmill during CES 2018 at the Las Vegas Convention Center on January 11, 2018 in Las Vegas, Nevada. Ethan Miller | Getty Images Peloton shares closed Wednesday down nearly 15%, wiping $4.1 billion off......

Peloton recalling all treadmills after reports of injuries, one death

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CNBC – For more and to sign up click here A Peloton Interactive Inc. Tread exercise machine for sale at the company’s showroom in Dedham, Massachusetts, U.S., on Wednesday, Feb. 3, 2021. Adam Glanzman | Bloomberg | Getty Images In a major reversal, Peloton announced Wednesday voluntary recalls of both......

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......

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