For years, Farfetch was a tech darling that powered much of online luxury shopping. Now it is teetering on the brink of collapse.
Category: Company Reports
-
Hasbro to Cut 1,100 Jobs as Weak Toy Sales Persist
The announcement that the toymaker was eliminating nearly 17 percent of its work force came during the critical holiday shopping season.
-
Corporate America Is Testing the Limits of Its Pricing Power
Firms may struggle to keep profits up if demand slows, but so far they are finding ways to keep margins wide.
-
Retail Group Retracts Startling Claim About ‘Organized’ Shoplifting
The National Retail Federation had said that nearly half of the industry’s $94.5 billion in missing merchandise in 2021 was the result of organized theft. It was likely closer to 5 percent.
-
British American Tobacco Writes Down Value of Brands by $31 Billion
British American Tobacco told investors that it had reassessed the “useful economic lives” of some of its brands amid waning sales and a shift toward vaping.
-
Is the Holiday Shopping Season Going to Be a Success? The Answer Is Murky.
Black Friday weekend had a decent turnout for retailers, but it’s unclear if the rest of the season will deliver for the industry.
-
Red Lobster’s Popular Endless Shrimp Deal Ate Into Its Profits
The all-you-can-eat deal contributed to an $11 million quarterly operating loss.
-
Black Friday Isn’t What It Used to Be
Big discounts, many of them online only, start appearing well before Thanksgiving and will run long after. Some people still go to the mall, though.
-
Nvidia Triples Quarterly Revenue, but Sales in China Are a Concern
Demand for the company’s A.I. chips remains high, but it said new U.S. export restrictions would hurt it sales to countries like China.
-
Retailers Wary of Squeeze on Shoppers Ahead of Key Holiday Season
Consumers have bucked expectations despite high inflation and interest rates, but retailers worry whether they can keep it up through the end of the year.
-
Manchester City’s $500 Million Wage Bill Is Largest in Premier League History
The club, which dominates the Premier League, is backed by seemingly limitless cash from its Emirati owner, Sheikh Mansour bin Zayed al Nayhan.