Japan’s Fast Retailing Co, owner of clothing brand Uniqlo, said on Thursday first-quarter profits fell 2%, reflecting the country’s weakness and continued Covid-19 restrictions in China. A day after announcing plans for big pay rises, the company said operating profit was 117.1 billion yen ($889.82 million) in the three months to the end of November. … Read more
Makeup Morphe, which has harnessed the star power of social media to see rapid growth and a $2 billion valuation, said it plans to close all of its stores in the United States. On Thursday, the company listed about 20 locations on its website. Forma Brands, Morphe’s parent, did not respond to a request for … Read more
For most of 2022, the fashion industry has been waiting for the other shoe to drop. We are still waiting. There was the glut of merchandise and brand retailers that had accumulated at the start of the year. Already high inflation rose to levels not seen since the early 1980s. Russia ceased to be a … Read more
Zara owner Inditex posted a 24% increase in net profit for the first nine months of its fiscal year as higher prices helped offset weaker global demand for clothes. In-store and online sales at the world’s largest fashion retailer rose 19% from a year ago, slightly faster than analysts expected. Price increases of 5% or … Read more
British sportswear and apparel retailer Frasers stuck to its 2022-23 financial forecast after reporting a 39% increase in first-half profit, reflecting the success of its drive to move upmarket. The FTSE 100-listed company, formerly called Sports Direct, owns brands including House of Fraser, Flannels, USC and Jack Wills. Founder Mike Ashley still controls Frasers, owning … Read more
Shares of Spotify Technology SA (NYSE: SPOT) rebounded on Wednesday after falling 4.02% on Tuesday. MarketBeat.com – MarketBeat The stock price held above its Nov. 4 low of $69.29. Does that mean we’ve heard the last of its downtrend? Spotify attempted a rally this summer, roughly in parallel with the broader market, but it fizzled … Read more
Customer relationship management software giant Salesforce (NASDAQ: CRM) Shares fell (-10%) on a bullish Q3 2022 earnings report, but Q4 guidance was mixed. The company beat analysts’ expectations as shares initially surged, then fell on news of the resignation of Salesforce co-CEO Bret Taylor and Marc Benioff taking over as CEO and chairman. . Meanwhile, … Read more
American semiconductor producer Intel (NASDAQ: INTC) stocks are trading at price levels not seen since 2016. As stocks rallied after a strong earnings report, forecasts were unusually low, but stocks managed to climb despite warnings. Markets may have finally begun to believe in the value of its heavy investments in future semiconductor fabs. These are … Read more
After releasing an earnings report that beat analysts’ estimates, Okta Inc’s (NASDAQ:OKTA) stock value rose significantly. While not all of the data was impressive, share volume still rose to 20.30 million, more than six times OTKA’s average daily volume, to help push the value through. from $53.32 on Wednesday, November 30 to $65.94 the next … Read more
CenturyLink merged with Qwest to become the third-largest telecommunications company in the United States in 2010. The company went on to gobble up technology companies like Savvis, a cloud infrastructure company in 2012 and broadband provider Level 3 Communications in 2017. The company changed its name from CenturyLink to Lumen Technologies (NYSE: LUMN) on September … Read more