U.S. holiday sales in 2021 came in at a better-than-expected $886.7 billion, boosted by customers returning to stores and splurging more online, even as a jump in Covid-19 cases and supply chain issues loomed.
U.S. shoppers spent less online during Black Friday this year, with many venturing back to physical stores despite coronavirus fears, tight supplies, and retailers' efforts to encourage earlier holiday purchases.
Shares of Nordstrom Inc and Gap Inc slumped more than 20% on Wednesday as warnings of product shortages during the crucial holiday season raised fears that the retailers were losing out to better-prepared competitors.
Macy's Inc raised its full-year sales and profit outlook on Thursday, signaling the department store chain had sidestepped supply chain snarls and was well stocked for the all-important holiday season.
Milan-based brand La DoubleJ has named “influential creative leader” Julia Leach its Chief Brand Officer. She’ll work with founders JJ Martin and Andrea Ciccoli “to realise their creative and business goals".