Macy’s tweaks guidance as Q1 20223 sales drop 7 percent
Macy’s has reported its results for the first quarter of fiscal 2023. Net sales dropped 7 percent versus the same period in 2022, to US$5 billion while diluted earnings per share came in at US$0.56, some way below the US$0.98 reported in Q12022.
Sephora Canada debuts immersive installation
Sephora Canada has debuted a new immersive installation that harnesses the power of its shade-matching technology. Designed to showcase the diversity of beauty in Canada, Sephora Illumination, powered by Colour iQ, uses more than 140,000 shades of diverse Canadians to reflect the nation’s collective beauty.
Target pulls Pride collection over threats to staff
Target has revealed that its employees have been subjected to anti-social and threatening behaviour from anti-LGBTQ groups over its Pride collection, and it has subsequently pulled select items from its shelves.
Kohl’s Q1 2023: sales down 3.3 percent but margin up
Kohl’s has reported its results for the first quarter of fiscal 2023. The US department store saw net sales drop 3.3 percent yoy to US$3.4 billion although gross margin improved by 67 basis points.
Bath & Body Works Q1 2023: sales drop 4 percent but EPS exceeds expectations
Bath & Body Works has reported its sales for the first quarter of fiscal 2023. The former L Brands retailer saw sales drop 4 percent yoy, reporting a total of US$1,396 billion for the three months ended April 29, 2023.
Target Q1 2023: sales inch up 0.5 percent in ‘increasingly challenging environment’
Target has announced its results for the first quarter of fiscal 2023. The US retailer saw sales rise 0.5 percent for total revenue of US$25.3 billion, reflecting flat comparable sales combined with the benefit of sales from new locations. Traffic grew 0.9 percent.
Bath & Body Works names Chief Customer Officer
Fresh off the heals of a new CEO and Chief Digital and Technology Officer as well as a replacement CFO yet to be announced, Bath & Body Works has named Maurice Cooper as Chief Customer Officer, according to a report published by Retail Dive.
Walmart has maintained inflation-beating prices, new study shows
A study of the pricing of some 589 branded products conducted by Dataweave shows that Walmart has consistently kept its prices lower than its competitors and below the rate of inflation for the past year, according to a report published by Reuters.
Bed, Bath & Beyond seeks damages from shipping firms over bankruptcy
Bed, Bath & Beyond has launched a bid to claim back US$31.7 million from shipping firms following its bankruptcy, according to a report published by the Wall Street Journal.
Sephora announces national collection program Beauty (Re)Purposed
Aiming to reduce the amount of packaging going to landfill, Sephora has announced a new nationwide empties program in the U.S. named Beauty (Re)Purposed, according to a report by Glossy.
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