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...A version of this article was first published by Nikkei Asia on June 3, 2023. ©2023 Nikkei Inc. All rights reserved....
...“The promotional environment has become more intense, especially in apparel,” he said....
...However, Target reported that from early March sales across apparel and homeware had suffered a rapid slowdown....
...Interests are widely spread across unrelated sectors and countries, from US shale gas, Vietnamese apparel to Chinese lenders....
...Itochu, which has been most aggressive in expanding its non-resource businesses, such as food and apparel, owns Dole Food’s global packaged foods and Asian fresh produce businesses while Marubeni has recently...
...Robert Thomson, chief executive of News Corp, is also nervous about revenue flowing into the Murdoch-owned newspaper group through sports betting partnerships, these people said....
...Japan Inc has domestic support to be more vocal on controversial issues, too....
...There was already weakness in some areas in March, where sales declined by a “low single-digit” percentage in homeware and more than 30 per cent in apparel and accessories....
...Department stores and apparel retailers that sell virtually the same products will continue to languish in the discount bins....
...The problem with department stores is that they all sell apparel brands that can be found more cheaply elsewhere. Some middle-class shoppers buy their clothes at TJ Maxx out of choice....
...But online apparel billionaire Yusaku Maezawa should flaunt his wares aboard a SpaceX moon rocket, if it ever takes off....
...More broadly, Ms Greenberger blamed “secular headwinds such as ecommerce disintermediation, market share loss, ecommerce EBIT margin pressure, and apparel price deflation” as reasons for remaining cautious...
...Chinese consumption has become so large that the country is the most important market for luxury and car companies — and is driving sales for global healthcare, entertainment and apparel brands....
...The company has been slashing prices to get rid of leftover clothes, particularly in its women’s section, “allowing for an improved apparel assortment heading into the holiday season”, he said....
...The decision to depart from the swim and apparel categories lobbed 6 percentage points off total comparable sales and 9 percentage points off Victoria’s Secret comparable sales....
...Prominent victims of the retail difficulties this year include the jeans maker True Religion Apparel, the teen brand rue21, and Gordmans Stores, the century-old midwest department store group....
...It is also planning to open about 270 new stores over the next three years, focused primarily on its Old Navy family-friendly apparel brand and Athleta, which sells activewear....
...Strong demand for Calvin Klein dresses and Tommy Hilfiger sportswear helped G-III Apparel weather the wider retail slump and deliver better than expected sales gain during the first quarter....
...As part of this plan, the company struck a deal with Under Armour and started selling the group’s apparel, accessories and footwear at its stores and online in March....
...Lower foot traffic has plagued the middle-market apparel brand, which has been closing stores and negotiating for rent reductions....
...Urban Outfitters, the teen-focused apparel company. reported adjusted earnings per share of 45 cents, topping the consensus for 36 cents and sending shares soaring 16 per cent as a sign of life for stores...
...According to FactSet, department stores and apparel retailers are expected to average declines of 6 per cent or more in net income for the first quarter....
...Shares of Walmart, one of Amazon’s largest rivals, also suffered, despite the company announcing a further push into online retailing with a $310m cash deal for men’s apparel retailer Bonobos....
...Moody’s this week estimated that 14 per cent of its US retail and apparel portfolio is made up of distressed issuers, the largest proportion it has seen since the financial crisis....
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