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Tag: weak

Macy’s blames sluggish sales on weak shopping malls

Macy’s said its stores at weaker U.S. shopping malls were hurt by slower foot traffic during the latest quarter, leading to a steeper-than-expected sales decline. “We’ve been investing in malls where our developers are investing and … we feel really good about that initiative, and those stores continue to outpace the breadth of our fleet,” …

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Commentary: Gap in very weak position, spin-off of Old Navy won’t help it

There is no real surprise from Gap’s third quarter figures: Sales are poor, profit is weak although marginally better than forecast, and the outlook remains gloomy. Given the relative lack of effort from management on resolving the underlying issues plaguing the company, it would be unreasonable to expect a different outcome. However, there is some …

Commentary: Gap in very weak position, spin-off of Old Navy won’t help itRead More

New Look blames poor sales on weak consumer spending and bad weather | Business

New Look has blamed a steep fall in sales on weak consumer spending and mild autumn weather, which knocked demand for its winter clothing ranges. The chief operating officer, Nigel Oddy, said the 7.4% drop in first-half like-for-like sales reflected ongoing consumer uncertainty and seasonal volatility. Sales picked up over the summer months but fell …

New Look blames poor sales on weak consumer spending and bad weather | BusinessRead More

Gap shares tumble after CEO Art Peck steps down, retailer issues weak forecast

Gap Inc. shares tumbled in extended trading Thursday after the company said CEO Art Peck will be stepping down immediately, and be replaced by the founders’ son temporarily.  Gap, which has been struggling to revive its sales, also slashed its forecast for the year, citing a “challenging quarter.” Its shares sank more than 7% in …

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