Lindsay Lohan and her brother, Michael Jr., are being sued by Fima Potik for allegedly stealing the concept for a celebrity-meets-fashion e-commerce site. After getting out of rehab, Lohan and her brother collaborated with Potik on an e-commerce concept that allowed users to shop the "virtual closets" of friends and celebrities, with those involved receiving a cut of the profits. The concept, known as Spotted Friend, was mentioned by Lohan on Twitter in July 2013, and the website at one point stated that it was a "Fima Potik & Lindsay Lohan Production."
Amazon.com Inc. has enlisted the help of Patton Boggs in Washington to fight for legislation that would allow states to collect sales taxes from online and catalog retailers located anywhere in the United States.Patton senior policy adviser Michael...
New Albany, Ohio -- Abercrombie & Fitch Co. reported Wednesday that profit for the second-quarter rose 64% to $32 million, up from $19.5 million, on increased demand in the United States and Europe. Revenue rose 23% to $916.8 million, as previously reported, and same-store sales increased 9%. The quarterly results indicate the retailer’s rebound as it has honed its focus on international expansion and right-sizing the portfolio. It plans to open 40 Hollister stores internationally this year, and close up to 65 stores in the United States. On Tuesday, Abercrombie & Fitch released news that it had offered Michael
It's been an effective marketing strategy for as long as there have been retailers. But today analysts say the theory is driving a sales-crazy marketplace in which retailers, desperate to survive tough times, are finding increasingly creative ways to lure consumers who consider 20 percent off to be the new full price.
Ross Stores reported Thursday that net income for the quarter ended July 31 rose 25% to a record $129.3 million, compared with net income of $103.4 million in the year-earlier period. Sales increased 8% to $1.912 billion, with same-store sales up 4% on top of a 3% gain in the prior year.Michael Balmuth, vice chairman and CEO, commented, "Our ability to deliver compelling bargains, while operating our business on much lower inventories, remains the primary driver of our strong results. The best performing merchandise categories during the second quarter and year to date periods were home, dresses and shoes.