Retail

Bloomberg Tapestry Inc posted earnings that topped analysts’ estimates even amid a sharp sales decline at its Kate Spade brand, which has struggled to rebound after a period of heavy discounting and flash sales. Excluding some items, profit of 40 cents a share topped projections of 36 cents. The Coach brand, which accounts for more than two-thirds of Tapestry revenue, …

Bloomberg Shake Shack Inc tumbled to what would be its lowest level since July after the burger chain’s third-quarter comparable sales trailed estimates and management reduced its sales target. “After seeing improved trends over the last two quarters, 3Q results — as well as 4Q commentary — were a sobering reminder of the volatility in results that often accompanies the …

Bloomberg Marks & Spencer Group Plc’s efforts to turn around its troubled clothing business showed signs of life in the autumn, boosting the UK retailer after a weak first half of the year. The division’s full-price and planned promotional sales rose 2.7% in October, the company said on Wednesday. The shares gained as much as 7.9% in early London trading, …

Bloomberg US brands may see a broad boycott at the world’s biggest shopping event this year as tensions between the US and China over everything from tariffs to technological dominance simmer. More than three-quarters of Chinese consumers surveyed said they’ll reconsider buying from American companies during the Singles’ Day shopping event on November 11, according to a report released last …

Bloomberg Shoprite Holdings Ltd reappointed Christo Wiese as chairman even after ordinary shareholders resoundingly voted against his re-election as a non-executive director. Holders of more than 61% of the shares opposed his reappointment, Africa’s biggest grocer said after its annual general meeting in Cape Town. The former billionaire only secured another term thanks to his own superior voting rights. “We …

Bloomberg Under Armour Inc shares plunged after the company disclosed that federal officials have been probing its accounting practices for more than two years, bringing a fresh headache to investors just as the sports brand prepares for a CEO transition. The athleticwear company also lowered its full-year revenue forecast, but it raised some other projections after posting solid third-quarter results. …

Bloomberg The Nordic operations of Thomas Cook have been bought by a group of local investors, a little over a month after the parent company went bust. Billionaire Petter Stordalen’s Strawberry Group will team up with Altor Fund V and TDR Capital to take over the assets of Thomas Cook Northern Europe, or Vinggruppen, the group said. “Their great industry …

Bloomberg Wayfair Inc plunged to its lowest levels of the year after the online home-goods retailer gave a disappointing outlook for the critical holiday quarter. The shares fell 17% to $84.23 in New York, their lowest since December 26. The company said on its conference call with analysts and investors that it expects fourth-quarter net revenue of $2.48 billion to …

Bloomberg Takeaway.com has changed the type of bid it’s making for Just Eat Plc to one that allows it to change the shareholder acceptance threshold down the line as it competes with Naspers Ltd spinoff Prosus NV for the asset. Takeaway is moving from a “scheme of arrangement” to a conditional offer, the company said in a statement on Monday. …

Bloomberg After weeks of hand-wringing over its fate, the flagship location of Barneys New York Inc will stay open for at least another year, albeit with a new format. The store will morph into a “pop-up retail experience” including boutiques, art and other cultural events, according to a statement from its new owner, Authentic Brands Group LLC. But the centre …