The post-Thanksgiving shopping hangover that carried through Christmas appears to be stubbornly hanging on into January.
Brought on by slow traffic and heavy promotions that have persisted into the new year, a flood of profit warnings that began in earnest last week continued Monday. It was led by Lululemon Athletica Inc.’s disclosure that a slowdown this month had caused it to reduce its profit expectations for the fourth quarter to a range of between 71 and 73 cents a diluted share from an earlier range of between 78 and 80 cents. Same-store sales, initially expected to be flat, are now seen falling in the low- to midsingle digits.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)