Hudson’s Bay Retail Chain to Terminate More Than 8,300 Workers by Sunday
Canada’s oldest retail chain will lay off 89 percent of its workforce by Sunday, when it will conclude its liquidation sale and shutter all stores.
retail / Fast Fashion
Target Cuts Sales Forecast on Shopper Pullback, Tariff Hit
The retailer now expects net sales to decline by a low single digit this year, down from previous guidance for an increase of about 1 percent.
Shein to Set up Huge Vietnam Warehouse in US Tariff Hedge, Reuters Reports
The fast-fashion e-tailer is leasing its first warehouse in Vietnam, in hopes of reducing exposure to unpredictable US-China trade tensions.
Is This the End of Cheap Stuff in America?
As US sales of Shein and Temu plummet, some sustainability advocates make the case for an unlikely win in the movement toward conscious consumption under President Donald Trump’s protectionist trade policies.
Topshop to Return to High Street With Outlets in Other Retailers’ Stores
The UK fashion retailer said it had already signed deals with retail partners and was seeking more, with no current plans for a standalone location.
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‘They Played Us’: Forever 21 Vendors Scorn Retailer’s Bankruptcy
Several vendors are alleging the fast-fashion brand’s US operator requested heavy discounts on orders and took delivery of shipments shortly before filing for bankruptcy without disclosing its plans to reorganise.
Price Hike on Shein? How Trump Tariffs Could Shift the US’s Love of Fast Fashion
The ending of the de minimis loophole on cheap goods from China may push consumers to seek other alternatives like secondhand shopping.
This Week: Is H&M’s Turnaround Working?
The fast fashion retailer, which reports its first-quarter results Thursday, is aiming to return to growth after a marketing blitz starring Charli XCX.
Making Sense of This Week’s Big Fashion Bankruptcies
News of Forever 21 and Hudson’s Bay facing liquidation this week rang alarm bells for an industry already facing macroeconomic challenges this year. But their failures could have been avoided.
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Retail
China’s Zara Tries Going Global in Hopes of Shein-Like Success
Urban Revivo is set to expand globally, opening its first US flagship store in New York City. The label has plans to rapidly grow its international footprint and build a supply chain outside China to compete with Western fashion giants.
China’s Zara Tries Going Global in Hopes of Shein-Like Success
Urban Revivo is set to expand globally, opening its first US flagship store in New York City. The label has plans to rapidly grow its international footprint and build a supply chain outside China to compete with Western fashion giants.
A Death Blow for Dupe Culture, Deferred
President Trump’s ruling this week to end the de minimis tax loophole could be a bust for Shein and Temu, but a boon for all the mid-priced brands they’ve ripped off over the years.
Shein, Temu, Amazon Haul Set for Price Hikes in the US
Prices for the low-cost retailers’ assortments are expected to rise for US consumers after President Trump ended a key trade loophole that allowed low-value packages from China to enter the the country duty-free.
The Best of BoF 2024: Fashion Adapts to a Tough Reality
Facing depressed consumer sentiment and a slew of other macroeconomic headwinds this year, the industry was forced to revisit a timeless retail playbook: compelling product, prudent spending and a revival of brick and mortar.
The News in Brief
Crypto-Luxury Brand 9dcc Is Shutting Down
The brand cited headwinds in web3 and softness in the luxury market for its decision in an announcement Tuesday.
Temu-Owner PDD Holdings Misses Quarterly Revenue Estimates
Despite price slashing from retailers and government stimulus measures to boost consumer spending, the e-commerce company's year-on-year net income fell 47 percent.
Swiss Watch Exports Jump in April Ahead of Threatened US Tariffs
Swiss watch exports to the US saw a significant increase in April, driven by a surge in shipments ahead of anticipated tariff hikes.
Italy’s Fashion Brands Sign Accord to Fight Worker Exploitation
Italian legal and political authorities, trade unions and fashion industry parties signed a non-binding action plan focussed on the creation of a database of brands’ suppliers and their workforces, after prosecutors uncovered widespread abuse.
EU Warns Shein of Fines in Consumer Protection Probe
The EU has ordered Shein to address consumer law breaches within one month or face potential fines.
Trump Extends Deadline for 50% Tariffs on EU Goods to July 9
The US president told reporters the decision to push the deadline came after he had a ‘very nice’ phone call with Commission President Ursula von der Leyen.
E.l.f. Beauty Announces $1 Price Hike, Citing Inflation and Tariffs
The mass brand will raise prices in August.