Though millions of people got a jump start on holiday shopping this year, millions more still have a lengthy list to finalize. According to the National Retail Federation’s final consumer holiday spending survey of the season, the average holiday shopper has finished 53.5% of his or her shopping, similar to the 52.9% seen this time […]

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Prada SpA has some serious woes. Shares of the Italian luxury goods hit a record low in Hong Kong trading, dropping 6.4% after it posted a 38% plunge in Q3 profits, missing analyst estimates. Slumping sales due to depressed economic growth sales in Greater China was a major factor. Prada reported Tuesday net income fell […]

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Consumers accustomed to 24/7 shopping online can now do it at Kohl’s brick and mortar stores during the holidays. The retailer plans to keep its doors open for more than 170 hours straight from 7 a.m. on Thursday, December 17 through 6 p.m. on Christmas Eve, Thursday, December 24 as an added convenience to holiday […]

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Hudson’s Bay, the parent company of Lord & Taylor and Saks Fifth Avenue, is in talks to acquire fashion flash sale site Gilt for $250 million, according to The Wall Street Journal. This is significantly less than the $1.1 billion valuation Gilt received in 2011. In addition to its flash site, Gilt also has a […]

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Dallas–Luxury retailer Neiman Marcus Group swung to a first-quarter loss and posted lower sales. Revenue fell 1.8% to $1.16 billion in the three months ended Oct. 31. Revenue excluding stores newly opened or closed dropped 5.6%. Neiman Marcus’s loss of $10.5 million for the first quarter hits particularly hard, especially when compared with a year-earlier […]

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New York–Fashion darling Tory Burch has recently laid off 100 people (about 3% of the workforce) at its Flatiron District headquarters and some of its 160 stores. Craig Johnson, president of Customer Growth Partners, told the New York Post this about the fashion and accessories label: “We started to see some weakness in sales momentum […]

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Los Angeles–No trip to LA was complete without a visit to fashion/gift boutique Kitson, where shoppers could find snarky novelty items, designer duds…and spot lots and lots of celebrities. In fact, if you didn’t know where Kitson was, all you had to do was look for the paparazzi outside the Robertson Boulevard location, opened in […]

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Toronto and New York—While its recent European acquisitions helped with a 34% sales increase, Hudson’s Bay Company today reported an adjusted loss that missed analysts’ estimates. For the three months ended Oct. 31, the parent of Lord & Taylor and Saks posted a net profit was C$1 million, or 1 Canadian cent, compared with a […]

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