RetailBoss is streamlining its retail news with our weekly retail roundup, including updates from around the globe. Here are today's top stories from this week; if you want to get this news in your inbox, sign up for our free retail newsletter and follow us online at @retailboss on Instagram, Facebook, Twitter and Linkedin.
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- Rent the Runway to cut 10% of its corporate workforce, COO resigns Rent the Runway (RTR), a prominent fashion rental company, has recently announced a significant reduction in its corporate workforce.
- H&M Embraces Localization Strategy Through Small Stores As H&M focuses on a new consumer group, the fast-fashion retailer is set to open a store on King’s Road in Chelsea, London, in spring, responding to fashion demand.
- Aritzia convinces court to dismiss copyright infringement lawsuit Toy company had alleged the Vancouver retailer in window displays copied the style of its product.
- Nike, Tiger Woods end partnership after 27 years Woods in a social media post thanked Nike co-founder Phil Knight for his “passion and vision” that brought them together when he turned pro.
- Kate Hudson Launches Supplement Brand at Whole Foods INBLOOM, the wellness brand co-founded by acclaimed actress and entrepreneur Kate Hudson, has reached a significant milestone in its journey to bring holistic, plant-based nutrition to a wider audience.
- Shein's revenue is ‘a lot more’ than $30 billion annually, key partner says The CEO of brand management firm Authentic Brands Group said Shein’s annual revenue is “a lot more” than $30 billion annually.
- Abercrombie, American Eagle and Lululemon raise holiday sales outlooks Abercrombie & Fitch ANF +6.3% kept up the pace into the holiday season as it raised its net sales and operating margin outlook.
- Old Navy to close two stores in North America Old Navy Canada has confirmed the impending closure of two of its Toronto store locations.
- Neiman Marcus CEO says there’s ‘no need’ to sell the business Neiman Marcus CEO Geoffroy van Raemdonck said there’s “no need” to sell the business as rumors swirl that rival Saks Fifth Avenue is eager to take it over.
