VF Corp Misses Quarterly Revenue Estimates, Posts Loss
Shares of the North Face owner, which have declined 34.5 percent so far this year, were down nearly 8 percent in extended trading.
TODAY'S MUST READThe French couture house reported revenues up 16 percent in 2023 and plans to increase capital expenditure by as much as 50 percent in 2024.
TODAY'S MUST READThe French couture house reported revenues up 16 percent in 2023 and plans to increase capital expenditure by as much as 50 percent in 2024.
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The News in Brief
TJX Posts Upbeat Q1, Lifts Annual Profit View on Robust Demand
Lower prices compared to department stores and cooling inflation have allowed shoppers more room to shop outside just essentials, boosting demand across product categories for the off-price retailer.
Dazed Media Names New Chief Marketing Officer
Sophie McElligott will be responsible for overseeing the business’ global expansion and marketing strategy.
Indian Beauty Retailer Nykaa Posts Near Three-Fold Jump in Q4 Profit
Its earnings before interest, tax, depreciation and amortisation margin expanded to 5.6 percent from 5.4 percent a year ago, while overall GMV rose 28 percent to 124.46 billion rupees.
Buy Now, Pay Later Needs Credit Card-Like Oversight, CFPB Says
The CFPB wants to ensure this sector, now a major part of the consumer credit market, is not “gaining an advantage by sidestepping existing regulations,” CFPB director Rohit Chopra said.
Temu-Parent PDD Holdings Beats First-Quarter Revenue Estimates
Consumers in China have turned to less expensive shopping platforms such as Pinduoduo and Bytedance’s Douyin at a time when a property sector downturn and rising local debt has weighed on the country’s economic growth.
Lululemon’s Product Chief Departure Adds to ‘Wall of Worry’
Analysts viewed Sun Choe’s departure as a sign foreshadowing further sales weakness.
Luxury Stocks Fall as Chanel Hints at Tougher Times to Come
Luxury stocks have been volatile this year, with underwhelming updates and warnings raising concern that consumers are thinking twice before splurging.
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