If you still haven’t booked your holiday travel plans, take note: Prices tend to rise the closer you get to the days you’re looking to travel. To afford holiday trips, about 50% of respondents are cutting back on other expenses while 49% are picking up discounts and deals, according to the 2024 Holiday Travel Outlook … Read more
Alibaba Offices In Beijing Bloomberg | Bloomberg | Getty Images Chinese e-commerce behemoth Alibaba on Friday beat profit expectations in its September quarter, but sales fell short as sluggishness in the world’s second-largest economy hit consumer spending. Alibaba said net income rose 58% year on year to 43.9 billion yuan ($6.07 billion) in the company’s … Read more
Shoppers walk past Burberry’s Shanghai store Kevin Lee | Getty Images LONDON — Burberry is aiming to win back shoppers and boost waning sales by refocusing on heritage designs and statement pieces under sweeping revamp plans designed to revive the luxury fashion house’s ailing fortunes. The “Burberry Forward” strategic overhaul, announced Thursday, intends to reconnect … Read more
Signage outside a Patagonia store in Tokyo, Japan, on Wednesday, April 19, 2023. Bloomberg | Bloomberg | Getty Images A landmark decision from outdoor clothing brand Patagonia to dedicate its profits to fight the climate crisis didn’t surprise its employees — but that’s not to say the process has been stress-free. Just over two years … Read more
In 2018, police showed up at a nondescript industrial warehouse in New York’s Brooklyn Navy Yard to investigate reported counterfeits. Federal agents were looking for knockoff military gear as part of an investigation into a distributor, called California Surplus, that had secured a $20 million contract to supply the U.S. military with specialized uniforms. They’d … Read more
U.S. adults make about 1.3 billion visits to shopping centers each month, or roughly 62 trips per person annually, according to the International Council of Shopping Centers. More of those consumers are going to strip malls. While some outlets like traditional malls have struggled to retain shoppers, foot traffic to strip malls is booming. Annual … Read more
In 2012, Amazon founder Jeff Bezos was asked by TV host Charlie Rose whether his e-commerce company would ever venture into brick-and-mortar stores. Bezos said shoppers were well-served by existing physical retailers and that Amazon wasn’t interested in launching a “me-too” product. “We want to do something that’s uniquely Amazon,” Bezos said. “If we can … Read more
The logo of Swedish clothing retailer H&M hangs over one of its stores on March 28, 2018 in Berlin, Germany. Sean Gallup | Getty Images News | Getty Images Shares of H&M tumbled as much as 8% on Thursday after the world’s second-largest listed fashion retailer posted a miss on operating profit and abandoned its … Read more
Automotive factories throughout the United States and around the world are not producing nearly as many cars as they need to in order to be profitable. A mixture of factors are driving down productivity, but two stand out. First, new car demand simply hasn’t snapped back to pre-pandemic levels. A record 17.5 million cars sold … Read more
THG, which was previously known as The Hut Group, is an e-commerce business based out of the U.K. Pavlo Gonchar | Sopa Images | Lightrocket via Getty Images British e-commerce firm THG said Tuesday that it is looking to spin off its technology platform, Ingenuity, in a blow to founder Matthew Moulding’s vision to build … Read more
