🟪 Gap (USA) reported Q4 net sales fell 3% to $4.1 billion. Operating income rose 21% to $259 million.  Same-store sales rose 3%.   Old Navy and Gap’s sales fell 3%, Banana Republic’s sales were down 4% and Althleta fell 5% in Q4.

• Full year net sales rose 1% to $15.1 billion, while operating income doubled to $1.1 billion.

🟪 Adidas (Germany) reported Q4 revenue rose 19% to €5.97 billion ($6.34 billion) , reflecting double-digit growth in all markets.  Operating profit reached €57 million ($60 million) compared to prior-year loss of €377 million.  

• Full year sales rose 12% €23.7 billion. Operating profit for the year totaled €1.34 billion. 

🟪 Costco (USA) reported its Q2 revenue rose 9% to $63.72 billion.  The results came as merchandise costs rose 9%.  Revenue from membership fees rose 7% year-over-year to $1.19 billion.

🟪 Foot Locker (USA) reported Q4 comparable sales rose 2.6%, despite total sales falling 5.8% to $2.23 billion.  Operating income rose to $55 million, from a net loss of $389 million a year ago.

• Nike, which represents about 60% of Foot Locker’s sales, has been running heavy discounting on its own site to clear inventory.  This has impacted Foot Locker dimming its 2025 outlook.

🟪 Target (USA) reported Q4 net sales fell 3% to $30.9 billion. Same-store sales rose 1.5%.  Operating income fell 21% to $1.5 billion.

• For the full year, net sales fell nearly 1% to $106.6 billion, while operating income fell 2.5% to $5.6 billion.

🟪 Nordstrom (USA) reported Q4 net sales fell 2% to $4.2 billion. Same-store sales were up 4.7%.  EBIT rose 13% to $242 million.

🟪 The Very Group (UK), the online retail platform) faces mounting pressure from its debt pile as sales slide, Fitch Ratings warns.

🟪 Prada (Italy) could be closing in on a deal to buy Versace. The group has been reported to have agreed to pay $1.55 billion to Versace’s US owner Capri Holdings, whose brands also include Jimmy Choo and Michael Kors.  Capri bought Versace for $1.93 billion in 2018.

🟪 Klarna Group (Sweden) is reportedly preparing to file for an IPO as soon as next week.  The Buy Now Pay Later company is targeting a valuation of more than $15 billion in the New York Stock Exchange listing, and has plans to price the IPO in early April, per Bloomberg.

🟪 Victoria’s Secret (USA) is laying off 700 people and closing its California headquarters.  Last month parent company Catalyst Brands layed off 250 people.  The brand was purchased out of bankruptcy about 5 years ago, but has failed to show sustained growth.