Gap used deep discounts in the first quarter to sell apparel overstocks that were piling up amid operational glitches that disrupted the product assortment, the company said Thursday. Same-store sales across the company rose 1% as gains at Old Navy and Banana Republic were offset by a 4% decline at Gap stores.
Tesco has named Tony Hoggett, head of its Asia business, to the new UK-based post of group chief operations officer. Hoggett has filled several executive roles at the retailer since joining the company at age 19.
Indian mobile services provider UrbanClap will be the assembly service partner for IKEA once the Sweden-based retailer opens its first India store this summer. IKEA will help train the company's assemblers, and shoppers will be able to hire them via UrbanClap's website or app, UrbanClap said.
Coffee shops are an important part of the culture in Lynchburg, Va., and many of these businesses serve as gathering spots that host open mic nights, book clubs and other events. The White Hart, which has been open for more than a decade, even hosted a wedding for a couple who had their first date at the shop.
Victoria's Secret will focus on comfort over style to appeal to younger shoppers and expand its offerings in categories including sportswear and sleepwear to boost sales amid growing competition, the company said Thursday. First-quarter sales at parent L Brands rose 8%, but Victoria's Secret's same-store sales were down 14%.
Plus-size fashion subscription service Dia&Co will add workout wear from brands including Lane Bryant and Beyond Yoga to its offerings, the company said. The newest service, dubbed Dia Active Box, will send curated five-piece collections of pieces including leggings, hoodies and sports bras.
UK discount retailer Poundworld will shutter 117 of its 355 stores by Aug. 31 and seek to negotiate rent reductions on the remaining locations as part of its company voluntary arrangement, according to a report. The retailer also expects to borrow an additional £15 million to fund its turnaround efforts.
Italian broadcasting company Giglio Group has teamed with China-based internet player Tencent to launch e-commerce services on the WeChat smartphone app. The new platform will feature Italian designer fashions and luxury goods aimed at millennials, Giglio Group CEO Alessandro Giglio said.
LVMH, the owner of the Louis Vuitton brand, led a funding round for Lyst, an online fashion search startup that connects shoppers with the web pages offering the products they want. Lyst, which launched its service in French, said it will use the new capital to expand into new languages and markets.
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