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United Kingdom

Nivedita Balu

Coty changes CEO again, hires former L'Oreal executive to revive sales

02 Jul 2020

Coty Inc on Thursday named former L'Oreal executive Sue Nabi as chief executive officer, the cosmetics maker's fifth since its multi-billon dollar deal with Procter & Gamble nearly five years ago.

Macy's posts nearly $4 billion in losses, doesn't expect another shutdown

01 Jul 2020

Macy's Inc reported a staggering $3.58 billion quarterly loss on Wednesday as coronavirus-related store shutdowns resulted in a $3 billion impairment charge. | Video

Nike posts surprise loss as COVID-19 hits wholesale business

26 Jun 2020

Nike Inc on Thursday reported an unexpected quarterly loss - its first in more than two years - hurt by closures of department and retail stores due to lockdowns spurred by the COVID-19 pandemic. | Video

Nordstrom sales plunge nearly 40% on pandemic-led store closures

28 May 2020

Upscale department store chain Nordstrom Inc on Thursday reported a nearly 40% slump in quarterly sales, as lockdowns to contain the COVID-19 pandemic shut stores.

Royal Caribbean, Norwegian Cruise extend trip suspensions to July 31

20 May 2020

Royal Caribbean Cruises Ltd and Norwegian Cruise Line Holdings Ltd on Wednesday extended the suspension of voyages by another month until July 31 amid sailing curbs imposed to check the spread of the coronavirus.

UPDATE 4-Norwegian Cruise, Carnival see demand rebounding by 2021

14 May 2020

May 14 Beleaguered cruise operators signaled a return in demand for cruises that would set sail late this year or early 2021 after travel restrictions and no-sail orders due to the COVID-19 pandemic raised concerns about the future of the industry.

UPDATE 2-Under Armour warns 2nd quarter revenue could more than halve, shares tank

11 May 2020

May 11 Under Armour Inc forecast on Monday a 50% to 60% drop in second-quarter revenue as most of its stores remained closed because of the COVID-19 pandemic, sending the athletic apparel maker's shares down about 11%.

Where's the beef? Wendy's turns to chicken to prop up sales

06 May 2020

Wendy's Co said on Wednesday it would focus on marketing its chicken products as it grapples with beef supply shortages in the United States that forced the burger chain to take its signature hamburgers off the menu at some of its restaurants.

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