The global fashion market should grow by 64 billion dollars in five years, according to Kantar. Approximately half of that will come from five major players: Fast Retailing, Inditex, H&M, TJX and Old Navy.
Shares in Nordstrom Inc slumped 9 percent after the U.S. department store operator reported disappointing same-store sales and said it had been forced to refund some of its credit card customers after overcharging them.
Gap’s dependence on its low-end Old Navy line lessened in the holiday quarter as the apparel retailer managed to better its sales of other brands, helping the company’s same-store sales blow past Wall Street estimates.
Ralph Lauren Corp’s quarterly revenue and profit beat Wall Street estimates on Thursday, selling more of its high-end clothes at full price and keeping a lid on costs, sending its shares up more than 5% on Thursday.
Nordstrom Inc said on Monday its founding family had suspended attempts to take the upscale retailer private for the rest of the year due to difficulties in arranging funds for the deal ahead of the holiday season.