Agenda-setting intelligence, analysis and advice for the global fashion community.
As retailer after retailer has reported second-quarter over the last two weeks, the message has been loud and clear: sales were good, even great this summer. Don’t expect it to last.
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The company surpassed analysts’ sales expectations for the sixth straight quarter, with a notable 18 percent rise in comparable sales driven by Hollister, though gross margins fell slightly short.
The upmarket department store chain also slightly revised its annual comparable sales forecast, raising the lower end to a range of flat to 2 percent growth.
Start-ups like Quince and Italic that sell affordable basics made in the same factories as high-end brands are generating massive growth in appealing directly to middle-class shoppers who don’t want to resort to Shein hauls.
Joan Kennedy is Correspondent at The Business of Fashion. She is based in New York and covers beauty and marketing.
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