• Nordstrom Tech Spending Slowing As Online Sales Are Growing

    3 years ago - By WWD

    Nordstrom has passed the peak of its investment cycle, and capital expenditures should decline over the next several years, the retailer's chief financial officer, Mike Koppel, told the packed crowd at the UBS Global Consumer Conference.
    Koppel said 2015 was the peak year for the investment cycle and that those costs should be coming down. Last year, Nordstrom spent $930 million, or 7 percent of sales, on capital expenditures as it built out its technology infrastructure. That number is expected to drop to $600 million, or 3 percent of sales, by 2020.
    The e-commerce business has grown...
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  • Job cuts at Brioni

    Job cuts at Brioni

    3 years ago - By Fashion United

    New York - The company has announced that they will be laying
    off an undisclosed number of employees in their factories, particularly in
    the Abrezzo region of Italy.

    According to a Brioni spokesman, the company is working on a strategy to
    find a balance between their workforce and production volume, which has
    significantly dropped over the past several year.

    Market sources say that 400 jobs could be cut in the upcoming months.

    "It's about making the business sustainable," the spokesman explained to
    WWD. "The imbalance between the headcount and number of pieces produced by...
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  • RetailMeNot Expands Into Spain and Italy

    3 years ago - By WWD

    RetailMeNot Inc., the digital offers consumer Web site, has now expanded into Italy and Spain with the RetailMeNot.it and RetailMeNot.es sites.
    The Austin-Texas based company also operates VoucherCodes.co.uk in the United Kingdom.
    With this most recent launch, the company now has a consumer presence in U.S., Canada, the U.K., France, Germany and the Netherlands as well as Italy and Spain. The company said its goal continues to be "to provide savings-minded consumers with great deals and offers for their favorite places to shop."
    Cotter Cunningham, founder and chief executive officer of...
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  • Wal-Mart Slashes Prices to Boost Sales

    3 years ago - By WWD

    How can you beat $2.87 for a T-shirt?
    Wal-Mart is betting the price can't be replicated as it flexes its enormous sourcing muscles to bring apparel items into its stores at rock bottom prices. Its emphasis on price comes as the retailer struggles with declining profits and flat sales - which it foresees lasting for the rest of the year.
    "Last year, we sold a $1.68 cami," Steve Bratspies, chief merchandising officer of Wal-Mart U.S., said at the Raymond James 37th annual institutional investors conference on Tuesday. "We sold millions of items. In this apparel program, called 'Shocking...
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  • PINTRILL Drops a DJ Khaled-Inspired Pin Pack

    PINTRILL Drops a DJ Khaled-Inspired Pin Pack

    3 years ago - By Hypebeast

    Having already teamed up with both Micah Spear and DetroitWick so far this year, PINTRILL now turns its attention to Snapchat aficionado DJ Khaled. The result? A pin pack appropriately dubbed "They Don't Want You To Win." Featuring a trio of different designs, the pack includes a winner's ribbon, key and a jet ski - the latter of which is inspired by the We The Best boss' most infamous Snapchat-documented adventure.
    All three pins are available online now for $12 to $15 USD each or in a pack for $33 USD.
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    3 years ago - By Fashionista

    We are a high end European women's boutique seeking a sales associate for our store located in NYC's upper east side. This is a great opportunity to become part of a growing company. We are looking for candidates that are highly motivated and positive.Please have a resume which reflects the...
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  • Express Shares Rise After Q4 Results

    3 years ago - By WWD

    Shares of Express Inc. rose 6.1 percent in pre-market trading after the retailer posted fourth quarter results that beat Wall Street's estimates for earnings per share.
    For the three months ended Jan. 30, net income rose 34.3 percent to $56.1 million, or 67 cents a diluted share, from $41.8 million, or 49 cents, a year ago. Net sales rose 5.5 percent to $765.6 million from $725.8 million, while comparable-store sales gained 4 percent in the quarter. The company said e-commerce sales rose 8 percent to $156.3 million. Wall Street was expecting earnings per share of 65 cents on revenues of...
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  • Vera Bradley Delivers Earnings Beat With Sunny Outlook

    3 years ago - By WWD

    Vera Bradley, Inc. saw its stock rise slightly by over 4 percent to $18.40 in pre-market trading after the accessory company delivered fourth quarter results that beat revenue estimates and was inline with earnings estimates.
    Net revenues for the quarter rose 1 percent to $154.1 million, or 41 cents a diluted share, up from $152.6 million, or 43 cents, a year ago. The FactSet estimate for earnings per share was 41 cents and the estimate for revenues was $153 million.
    "While our overall fourth quarter comparable sales (including e-commerce) fell 4.6 percent, our comparable store sales...
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  • China's Dayang Group Invests $30M in Men's Brand Indochino

    3 years ago - By WWD

    Dayang Group, one of the world's largest suit manufacturers that counts Warren Buffett has a major fan, has made a substantial investment in Canadian made-to-measure men's apparel brand Indochino.
    Dayang has invested 42 million Canadian dollars, or about $30 million at current exchange, into the Vancouver-based company — funds that will be used to accelerate growth, create operational efficiencies and expand product offerings.
    Since its founding in 2007, Indochino has received around $30 million through Series B funding and from venture capital investors. But this is "exponentially more...
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  • Christopher Kane sees sales and losses increase

    Christopher Kane sees sales and losses increase

    3 years ago - By Fashion United

    London Fashion Week darling Christopher Kane saw both its sales surge and
    losses widen, according to the fashion house's latest annual accounts.

    It recorded a pre-tax loss of 4.5 million pounds for 2014, compared with a
    2.7 million pound loss in the previous year, citing investment in the brand
    and integration into parent Kering's business for the growing deficit.

    Sales, however, rocketed 32 percent to over 9 million pounds.

    Kane directors said that they were "encouraged" by the increase in sales
    and planned to expand into providing accessories with its womenswear,
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