Industry News – December 9th, 2016

Curated fashion industry news links for Friday, December 9th, 2016…

LULULEMON TOPS ESTIMATES IN Q3; CONFIDENT ABOUT HOLIDAY – ChainStoreAge
“Lululemon Athletica Inc.’s sales rose 13% to $544.4 million, surpassing Wall Street estimates. Total comparable sales, which includes comparable store sales and direct to consumer, increased by 7%. Same-store sales rose 4%.”

A CHANGE PURSE IN T-REX SKIN, PERHAPS? – TheNewYorktimes
“Coach closed 20 percent of its stores in 2014 to refocus, and then, in 2015, Mr. Vevers introduced ready-to-wear. He also gave the 75-year-old American leather goods company a new mascot: a T-Rex skeleton (though she also appears in the flesh on Coach sweaters) named Rexy.”

LOS ANGELES SUES FOUR NATIONAL RETAILERS OVER SALE PRICES – TheWallStreetJournal
“Los Angeles prosecutors on Thursday sued four national retailers, accusing them of duping shoppers into believing they got bigger discounts than they actually did.”

OFF-WHITE’S VIRGIL ABLOH CAUSES FASHION FRENZY AT MAXFIELD – Pret-a-Reporter
“Outside, there was a velvet rope; inside, the cash registers hummed as shoppers snapped photos of hoodies and grabbed $115 baseball caps from the shelves at a fast clip. It was an impressive spending pattern, at a time when many retailers and brands are struggling just to get people in the door.”

SEARS SAYS IT’S LIKELY TO CLOSE MANY MORE STORES AS SALES SLIDE WORSENS – Fortune
“The struggling retailer, which owns the Sears and Kmart chains, on Thursday reported a $748 million net loss in the third quarter, its worst performance in years.”