New York—The focus on fashion moved from New York to London and Milan (and soon Paris).
And Accessories has been following the runways, highlighting Fall 2014 trends that will be important to accessories sales. Most notably this week: Red Velvet, Blanket Wraps, Deep Sparkle and Arts & Crafts. Stay tuned for more from the Paris runways next week.
Earnings Week Ahead
Back to the present and the generally touch retail environment. As Earnings Week rolls around, some of the first reports were as expected, or not as strong as expected, a trend that’s evident in the upper end as well as the lower echelons.
More ominously, Retail Metrics estimates that fourth quarter retail earnings will see a 5% decline from 2013–that would be the worst quarterly report since 2009.
Walmart gave a weaker-than-expected forecast for the year ahead as its fourth quarter profit fell 21% and its U.S. comp sales disappointed again—the fourth consecutive quarter.
Nordstrom also gave a weaker forecast ahead due mostly to the costs associated with its expansion into Canada. And Kering, the luxury powerhouse behind Gucci, today reported a slowdown in the luxury sector.
“We had the effect of a lower growth of Asian markets and in particular China, but that was true for all the brands and all competitors of course,” CEO François-Henri Pinault told CNBC.
Here’s a look at these and other top 10 articles of the week: