The global fashion market should grow by 64 billion dollars in five years, according to Kantar. Approximately half of that will come from five major players: Fast Retailing, Inditex, H&M, TJX and Old Navy.
The U.S. holiday shopping period may heighten Wall Street's perception of a growing divide between retailers adapting to online sales and those unable to shake their reliance on dwindling shopping mall traffic.
TJX Cos Inc raised its full-year profit forecast on Tuesday and reported better-than-expected quarterly same-store sales, as well as its acquisition of an ownership stake in Russian off-price retailer Familia.
J.C. Penney Co on Friday reported a smaller-than-expected quarterly loss as it sold more diamond jewelry and denim clothing, showing efforts to revive sales and profits at the department store are taking hold.
J.C. Penny CEO Jill Soltau is attempting to restore Penney’s roots as a retailer of mid-priced apparel for middle-class families, as she reduces inventory at stores to boost margins and closes underperforming outlets.