The pioneer of fast fashion isn't looking so fast anymore. Inditex , the world's largest clothing retailer and owner of the Zara chain, faces growing competition from younger, online-only players like Boohoo.
Delta Galil has named veteran retail exec Tim Baxter as the new CEO of 7 for All Mankind and Splendid. Baxter brings 25 years of experience at Macy's, most recently as the retailer's chief merchandising officer.
Macy's announced Paula Price as its new Chief Financial Officer on Wednesday. Price will lead all finance, accounting, investor relations and internal audit functions and will report to chairman and CEO Jeff Gennette.
Upscale department store operator Nordstrom Inc’s shares dropped more than 7% on Thursday after the retailer reported same-store sales that missed analysts’ estimates, including a weak quarter for its shoe business.
Macy’s raised its full-year profit forecast on Wednesday and reported better-than-expected quarterly and same-store sales, helped by strong international tourism, a new loyalty program and a greater product assortment.