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Next continues to profit after M&S cyber-attack
Fashion brand Next has continued to see sales overperform, following a boost in the aftermath of a cyber-attack at rival firm M&S. The British retailer reported a stronger-than-expected 10.5% increase in full-price sales for its third quarter on Wednesday and raised its full year profit guidance for the fourth time in eight months. Next is…
Kim Kardashian’s Skims hits $5bn valuation
Osmond ChiaBusiness reporter Getty Images Skims, the shapewear brand co-founded by celebrity and entrepreneur Kim Kardashian, says it has raised $225m (£171.5m) of new funding, bringing its value to $5bn. The company says it plans to use the money from investors, including an arm of Wall Street banking giant Goldman Sachs, to open more shops…
Bank boss sorry after describing workers as lower value human capital
Discussing how automation was likely to lead to thousands of job cuts at the bank at a recent conference, Bill Winters said it wasn’t about cost cutting but “replacing, in some cases, lower value, human capital, with the financial capital and the investment capital that we’re putting in”.
Vinted users lash out over sizing changes
Vinted users have been reacting angrily after an update resulted in items being listed as the wrong size. The second-hand shopping app has revised its sizing categories for women’s and children’s clothes but did not contact all users about the change. Many shoppers and sellers have taken to social media saying Vinted listings now show…
Trump tariffs: Swiss companies target alternative export markets
Imogen FoulkesBern, Switzerland AFP via Getty Images So far President Karin Keller-Sutter has failed to reduce US tariffs on Swiss goods President Trump’s tariffs have caused shock worldwide, with governments scrambling to find a deal to placate him. Some have managed: the UK got in first, with a sweet deal of just 10%, the European…
Spirit Airlines shutting down after rescue talks collapse
The earlier plan, which would have seen the US government take effective ownership of as much as 90% of the airline, faced stiff opposition from Wall Street, Capitol Hill and even a member of Trump’s own cabinet. Transportation Secretary Sean Duffy told Reuters a rescue would amount to tossing “good money after bad”.
