Why Warehouse Clubs are the New Power Players in Apparel
Costco is growing apparel sales in a market where other
EARNINGS
Next plc (UK) reported that in the nine weeks to December 28, full price sales were up 6.0% over last year. Group profit before tax is now forecast to be up 10.0% from a year ago.
Aritzia (Canada) reported Q3 net revenue rose 11.5% to $728.7 million. Net revenue in the US rose 23.6% to $403.7 million Net income increased 71.9% to $74.1 million.
JCPenney and SPARC Group (USA) have combined to form a new organization, Catalyst Brands, which includes Aéropostale, Brooks Brothers, Eddie Bauer, Lucky Brand, Nautica and JCPenney.
Laura Ashley (UK) has been acquired by Marquee Brands (USA), the owner of 17 brands including Ben Sherman and Martha Stewart.
Shein’s London IPO has been thrown into further doubt after it was accused by MPs of behaviour that ‘bordered on contempt’ by repeatedly refusing to answer questions over the origins of its cotton sourcing, per The Times.
Nordstrom (USA) agreed to be taken private by its founding family and El Puerto de Liverpool (Mexico) in a deal valuing the department store chain at about $6.25 billion.
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Costco is growing apparel sales in a market where other
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