Overstock is feeling the pinch from rising prices on necessities like food and fuel, meaning consumer appetite for home furnishings has slowed to some degree. The company reported a 34% year-over-year dip in total net revenue to $528 million for the second quarter. Get the...
Consumers are keeping their cars longer than ever these days amid a sharp decline in the number of new cars available and the higher cost of purchasing them due to rising interest rates and supply chain snags. Get the Full Story Complete the form to...
A rebound in travel combined with increased demand for luxury apparel pushed Kering to new financial heights in the first half of 2022, with the company’s revenue for the first six months of the year up 23% from the same period in 2021. Get the...
In a year where most consumers have experienced growing financial stress and had to alter their spending habits in the face of rampant inflation, the well-heeled customers of the world’s largest consortium of luxury brands, LVMH, are on a totally different track. Get the Full...
Footwear giant Adidas announced Tuesday (July 26) that it’s adjusting its outlook for this year downward, citing a slower-than-expected recovery across Greater China since the start of the third quarter and the potential for slowdowns in other markets as a recession looms. Get the Full...
The world’s third-largest athletic footwear company, Skechers, said strong consumer demand for affordable comfort drove record quarterly sales results at a time when both of its largest rivals are struggling. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
French luxury retailer LVMH on Tuesday (July 26) reported 21% organic sales growth in the first half of 2022, despite rising concerns about increasing inflation and slowing sales in China, according to a Tuesday (July 26) press release. Get the Full Story Complete the form...
Walmart’s profit warning on Monday (July 25) sent shockwaves through already jittery markets, in effect confirming new PYMNTS research showing that over half of U.S. consumers feel worse off financially now than in 2021 — and don’t see substantive relief coming until mid-2024. Get the...
In a bid to offset the increased cost of goods and shipping services, Amazon said it plans to raise the annual fee for a Prime membership by 20% to 43% in five European countries. Get the Full Story Complete the form to unlock this article...
