Shares in Nordstrom Inc slumped 9 percent after the U.S. department store operator reported disappointing same-store sales and said it had been forced to refund some of its credit card customers after overcharging them.
The intimates and swimwear company announced on Thursday that it has concluded its acquisition of FOH Online Corp, exclusive licensee for the Frederick’s of Hollywood brand’s international e-commerce business.
J.C. Penney Co Inc cut its forecast for annual sales on Thursday while also withdrawing its outlook for full-year earnings, adding to nerves over the future of another one of America’s best known retail names.
Luxury brands will increasingly have to court Chinese shoppers on their home turf, as purchases soar among a clientele who are forecast to generate nearly half the industry’s sales by 2025, a study showed on Thursday.
German fashion house Hugo Boss set new targets to accelerate sales growth and lift profitability on Thursday as it seeks to react faster to trends, expand in Asia and quadruple the size of its online business by 2022.
Struggling Debenhams is under even more pressure as its shares continued their downward trajectory on Thursday, falling almost 9% in the first couple of hours after the markets opened to trade at less than 5p each.
Dutch payments firm Adyen is willing to take a hit on the transaction fees it charges in order to win new business, said CFO Ingo Uytdehaage, adding its model would support profit margins as volumes scale up.