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Industry News – May 10th, 2016

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Curated fashion industry news links for Tuesday, May 10th, 2016…

GUCCI WITHDRAWS FROM ANTI-COUNTERFEITING COALITION AFTER ALIBABA JOINS – FashionMag
“The US subsidiary of the Italian handbag and accessories brand Gucci has decided to withdraw from the International Anti-counterfeiting Coalition (IACC), based in Washington DC, after Chinese e-commerce giant Alibaba joined the organisation in April.”

J.C. PENNEY MOVING FORWARD WITH BIG NEW INITIATIVES – RetailingToday
“The likes of Lowe’s,  Home Depot, and Best Buy have a new competitor to deal with—J.C. Penney. “The department store retailer on Monday announced a major expansion into home appliances, as well as two new tests in the home area, one involving Ashley Furniture, and the other  national carpet and flooring company Empire Today. And in a rebuttal to some reports, Penney said it exceeded its earnings before interest, taxes, depreciation and amortization (EBITDA) expectations for the first quarter.”

WHAT WE LEARNED ABOUT SHOE COMPANIES IN Q1 – Footwear News
“Getting back on track has been the theme for many shoe firms in the first quarter of 2016 after a dismal holiday season, rife with heavy promotions and sluggish sales, pressured revenues in Q4.”

A HOT LINGERIE STARTUP IS DRAWING MORE FIRE FOR SHADY BILLING PRACTICES – Business Insider
“Lingerie startup Adore Me’s subscription model is coming under fire once again. Adore Me was, for a time, a media darling. It was challenging Victoria’s Secret’s position in the lingerie industry, and won some praise for selling plus size undergarments, something that Victoria’s Secret does not do.”

GAP IS CRATERING – Business Insider
“The apparel retailer Gap Inc. reported lower-than-expected quarterly sales at established stores, hurt by weak demand for its Banana Republic and Old Navy brands. The San Francisco-based retailer’s shares fell about 10% in extended trading on Monday.”

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