Latest Apparel and accessories retail News

Asian shares gain after earnings-fueled rally on Wall Street

Nov. 22, 2022 23:29 PM EST

BANGKOK (AP) — Asian shares advanced on Wednesday after solid earnings pushed retailers higher on Wall Street ahead of the Thanksgiving holiday in the U.S. Benchmarks rose in Hong Kong, Seoul and Sydney but fell in Shanghai. Markets were closed in Japan for a holiday. ...

Best Buy, Agilent rise; Zoom Video, Dollar Tree fall

Nov. 22, 2022 16:33 PM EST

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Tuesday: Best Buy Co., up $9.05 to $79.88. The electronics retailer beat Wall Street's third-quarter earnings and revenue forecasts. Dell Technologies Inc., up $2.78 to $43.85....

Macy's, Kohl's, Gap point to cloudy holiday retail picture

Nov. 17, 2022 17:59 PM EST

NEW YORK (AP) — Results from Macy's, Kohl's and Gap on Thursday further underscored the cloudy picture for U.S. retailers heading into the start of the holiday season. A day after Target reported a sharp drop in quarterly profits, it's clear that inflation-hit shoppers in the last...

Kohl's CEO steps down to take president role at Levi Strauss

Nov. 08, 2022 11:30 AM EST

NEW YORK (AP) — Michelle Gass, CEO of department store chain Kohl's, is stepping down from her role early next month and will become the president of denim giant Levi Strauss & Co. Levi's said Tuesday in a release that Gass will start on Jan. 2, and the board of directors has...

Oil giants rake in steep profits amid high energy prices

Oct. 28, 2022 12:05 PM EDT

Oil companies brought in staggering profits once again as people worldwide struggled with high gasoline and energy prices. Exxon Mobil broke records with its profits in the third quarter, raking in $19.66 billion in net income. The Irving, Texas company said Friday that it booked...

Albuquerque man, 12-year-old nephew accused of robbery spree

Sep. 30, 2022 11:36 AM EDT

ALBUQUERQUE, N.M. (AP) — Authorities say an Albuquerque man and his 12-year-old nephew are behind a string of recent armed robberies at retail clothing stores. Albuquerque police said Thursday night that Jason Pete Roper and his nephew were both taken into custody on multiple...

Gap slashes 500 corporate jobs in cost-cutting move

Sep. 20, 2022 17:34 PM EDT

NEW YORK (AP) — Gap is slashing 500 corporate jobs in San Francisco and New York as it looks to reduce expenses amid languishing sales. The job cuts, confirmed by a company spokesperson, follow years of struggle at the San Francisco-based retailer, which operates its namesake...

Kanye West and Gap splitting up after 2 years

Sep. 15, 2022 21:36 PM EDT

NEW YORK (AP) — Kanye West is breaking up with the Gap. An attorney for Kanye West, who goes by Ye, told The Associated Press that a letter has been sent to the clothing chain Thursday seeking to terminate the contract between Gap and West's company, Yeezy. The...

Retail sales up 0.3% in Aug. from July amid inflation

Sep. 15, 2022 12:37 PM EDT

NEW YORK (AP) — Americans picked up their spending a bit in August from July even as surging inflation on household necessities like rent and food took a toll on family budgets. U.S. retail sales rose an unexpected 0.3% last month after falling 0.4% in July, the Commerce Department...

American Eagle exec works to modernize the supply chain

Sep. 12, 2022 09:20 AM EDT

NEW YORK (AP) — From his perch as American Eagle Outfitters' chief supply chain officer, Shekar Natarajan is taking a page from shared ride service Uber to modernize the supply chain for retailers. Since Natarajan joined American Eagle almost four years ago, the teen retailer has...