Loaded with cash, apparel retailers have begun adopting more aggressive share buyback plans to woo shareholders and boost earnings per share.
"As retail stocks get hit, and with a recession looming, these companies get more aggressive with buybacks because there is nothing else to do with the cash at this point," explained Thomas Filandro, retail analyst at Susqehanna Financial Group. "They may as well use the cash to reward shareholders who are sticking with the company through difficult times."
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)