US Retail Sales Unexpectedly Flat in April
Consumers are focussing spending on essentials and cutting back on luxuries amid higher prices. But sales have held up as a strong labour market helped households navigate the high inflation environment.
Reuters
Chinese E-Commerce Giants’ Discounting Spree Hits Consumer Brands
Chinese e-commerce giants Alibaba and JD.com have faced increasing competition in recent years from low-cost platforms, such as PDD Holding’s Pinduoduo and ByteDance-owned Douyin.
Retail
Shein Steps Up London IPO Preparations Amid US Hurdles to Listing
The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering venue and file with the London Stock Exchange as soon as this month, a person with knowledge of the matter said.
Shein Steps Up London IPO Preparations Amid US Hurdles to Listing
The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering venue and file with the London Stock Exchange as soon as this month, a person with knowledge of the matter said.
Sustainability
Banned Chinese Cotton Found in 19% of Products, Study Shows
Traces of cotton from Xinjiang were found in nearly a fifth of samples from American and global retailers, highlighting the challenges of complying with a US law aimed at blocking imports that could be linked to forced labour in China.
Banned Chinese Cotton Found in 19% of Products, Study Shows
Traces of cotton from Xinjiang were found in nearly a fifth of samples from American and global retailers, highlighting the challenges of complying with a US law aimed at blocking imports that could be linked to forced labour in China.
‘Livestream’ Shopping’s Counterfeit Headache
The nature of livestream transactions makes it hard to identify and weed out counterfeits and fakes despite growth of new technologies aimed at detecting infringement.
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The News in Brief
Natura's Losses Rise to $181 Million But Margins Grow
In its first-quarter results, the Brazilian beauty company’s losses widened and revenue dropped, but grew margins as it continues a turnaround plan that has seen it shed Aesop and The Body Shop.
Anglo American Explores De Beers IPO as Part of Break-Up, Say Sources
The miner set out its plans for a potential break-up via a demerger or sale of some of its assets, as it fights off a $43 billion takeover bid from BHP Group.
Ferragamo Sales Down 17% in First Quarter
Revenues totalled 227 million euros ($244.5 million), below analyst expectations of 237 million euros according a LSEG consensus.
TikTok to Label AI-Generated Images, Video From OpenAI and Elsewhere
Researchers have expressed concerned that AI-generated content could be used as misinformation in an attempt to interfere with US elections this autumn.
US Online Retail Spending Up 7%, Driven By Demand for Cheaper Products
Sticky inflation has forced shoppers in various categories to trade down to more affordable products.
Tapestry Misses Quarterly Revenue Expectations
The company’s net sales came in at $1.48 billion in the quarter ended March 30, compared to analysts’ average estimate of $1.50 billion, according to LSEG data.
Levi Strauss Ends Lawsuit Against Italy’s Brunello Cucinelli Over Trademarked Tab
Levi notified a federal judge in Oakland, California on Tuesday that it was dismissing the case with prejudice, meaning it cannot be brought again. Settlement talks began shortly after Levi sued in January.