retail

French agency says Copeland, Dixell systems also hacked

France's national cybersecurity agency said on Tuesday that the cyberattack on supermarket refrigerators and freezers also hit refrigeration systems made by Copeland and its Dixell brand. Until then, investigators had pointed only to equipment from Danish manufacturer Danfoss. A Copeland…

European luxury stocks fall after LVMH sales miss

European luxury shares fell on Tuesday, Oct. 13, after LVMH reported a sharper-than-expected drop in fashion and leather goods sales. Weaker Chinese demand for Louis Vuitton raised new doubts about whether the sector can recover from a slowdown now in…

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LVMH misses Q3 forecasts as fashion, leather sales fall 5%

LVMH reported weaker-than-expected organic sales growth for the third quarter on Monday. Its fashion and leather goods division, which includes Louis Vuitton, posted a 5% organic decline as demand in China slowed. As the world's largest luxury group and the…

Nike shares hit 13-year low as layoffs, China slump weigh

Nike is cutting more jobs and redrawing its global structure under a program called "Pace." The plan aims to save about $2.5 billion through fiscal 2031, and it comes after a quarter in which sales shrank and the company forecast…

Nike forecasts sales drop after quarterly revenue miss

Nike reported first-quarter revenue below Wall Street's expectations on Thursday, Oct. 1, and forecast that sales will fall by a high-single-digit percentage this fiscal year. Weakness in Greater China, Nike Sportswear and the Jordan brand weighed on results nearly two…

Nike unveils restructuring plan with more job cuts in 2027

Nike on Thursday announced Pace, a plan to overhaul how the company operates. It includes modernizing the global supply chain, opening a new campus in Bengaluru, India, cutting from four sales geographies to three and reducing the size of the…

Shein pursues brand acquisitions after Hong Kong IPO

Days after completing its long-awaited Hong Kong initial public offering, Shein confirmed plans to acquire U.S. clothing brand Everlane for $80 million, marking the Chinese fast-fashion giant's first major step toward reinventing itself as a multi-brand retail platform.

Shein prices Hong Kong IPO at $26.5B, a fraction of its peak valuation

Online fast-fashion retailer Shein is set to raise approximately $1.7 billion from its Hong Kong initial public offering, pricing shares at HK$48.56 — near the midpoint of its HK$47.60 to HK$49.50 marketed range — valuing the company at roughly $26.5…

Shein’s $1.8B Hong Kong IPO fully covered ahead of Sept. 1 debut

Online fast-fashion retailer Shein's Hong Kong initial public offering book has been fully covered by investor demand, according to Reuters, bringing the company closer to a market debut that caps years of failed attempts to list in New York and…

Shein’s Hong Kong IPO faces investor skepticism over slowing growth

Shein is preparing to launch its Hong Kong initial public offering as soon as August 19, but a sharply reduced valuation and questions about the fast-fashion retailer's growth trajectory are testing investor confidence in what was once one of the…

Circle K owner Couche-Tard to buy Poland’s Zabka for $8.7B

Alimentation Couche-Tard, the Canadian convenience store giant that operates the Circle K chain, announced on Friday it will acquire Poland's Zabka Group in a deal valued at approximately 32.62 billion zlotys ($8.72 billion), marking the largest acquisition in the company's…

Shein discloses FTC probe in Hong Kong IPO filing

Fast-fashion giant Shein revealed on Tuesday that its U.S. business operations are under investigation by the Federal Trade Commission, a disclosure buried in documents filed with the Hong Kong Stock Exchange in connection with the company's planned initial public offering.

Sony’s disc exit threatens $7.2B used game market

Sony's decision to end physical disc production for new PlayStation games starting January 2028 is casting a shadow over the global used video game market, which analysts valued at $7.2 billion in 2025.

Nike to pull online sales from China retail partners

Nike will strip the majority of its Chinese retail partners of the right to sell its products online starting January 1, 2027, funneling e-commerce sales exclusively through its own channels in an aggressive bid to restore pricing control and brand…

Apple to launch device leasing program with Klarna on July 28

Apple is preparing to launch a new device leasing program called "Apple Upgrade" in partnership with Klarna, with a launch date of July 28 in the United States, according to reporting that sent Klarna shares higher on Tuesday.

Frasers raises Hugo Boss stake past 30%, triggering mandatory bid

Frasers Group said on Tuesday it has increased its stake in Hugo Boss to approximately 30.28%, crossing a key regulatory threshold that triggers a mandatory takeover bid under German law as it presses ahead with its contested acquisition of the…

Adidas forecasts €1.5B in World Cup sales after all-Adidas final

Adidas emerged as the decisive commercial winner of the 2026 FIFA World Cup after both finalists — Spain and Argentina — wore its kits in Sunday's final at MetLife Stadium in New Jersey, where Spain won 1-0 in extra time.

Shein clears Hong Kong listing committee for IPO

Shein has won approval from the Hong Kong Stock Exchange listing committee for its initial public offering, three people with knowledge of the matter told Reuters Thomson Reuters Corporation on Friday, bringing the fast-fashion retailer a step closer to its…

Shein’s executive chairman to step down as Hong Kong IPO nears

Donald Tang, the executive chairman of fast-fashion retailer Shein, will step down from his role as the company's long-pursued public offering nears completion, according to a Reuters exclusive published on Monday citing three sources with direct knowledge of the matter.

Uniqlo owner Fast Retailing raises forecast after Q3 profit jumps 46%

Fast Retailing, the Japanese owner of clothing brand Uniqlo, reported on Thursday that its third-quarter operating profit surged 45.7% to 213.79 billion yen ($1.32 billion), comfortably beating the 177.73 billion yen average of seven analyst estimates compiled by LSEG. The…

Hugo Boss board rejects Frasers’ €2B takeover bid

Hugo Boss on Thursday unanimously recommended that shareholders reject a takeover offer from Frasers Group, calling the British retail conglomerate's €38-per-share bid financially inadequate and saying it fails to reflect the German fashion house's standalone value and long-term growth potential.

Nike’s weak outlook drags JD Sports shares lower

Shares of JD Sports fell around 2% on Wednesday after Nike reported its fiscal fourth-quarter results and warned that its turnaround will take longer than expected, projecting further revenue declines through the first half of fiscal 2027.

GLP-1 drugs are reshaping global food spending habits

The growing use of GLP-1 weight-loss medications is driving measurable shifts in how consumers spend on food, forcing supermarkets, fast-food chains, and restaurants to rethink their offerings, according to new research published this week and in recent months across multiple…

KAWS becomes UNIQLO’s first Artist in Residence

The Artist in Residence position represents a comprehensive creative role that will see KAWS introducing new collaborators, proposing creative concepts, and participating in the UT Grand Prix T-shirt design competition alongside UNIQLO's global brand ambassadors. This formal arrangement deepens a…

Pop Mart revenue soars 204% as Labubu dolls go global

Chinese toymaker Pop Mart reported explosive growth on Tuesday, with first-half revenue climbing 204 percent to 13.88 billion yuan ($1.93 billion) as global demand for its Labubu dolls continued to drive the company's remarkable expansion. Net profit soared nearly five-fold…