Daily LInks
1. Fashion retailer H&M joins TJX, others in exiting Russia: H&M will wind down its business in Russia, a move that will cost almost $200 million and affect 6,000 staff as it joins a growing number of companies fully exiting the country. – Read More on Reuters
2. Cartier style and heritage director Pierre Rainero: “Globally, the buyers are becoming younger under the pressure of Asia because especially there, people have access to wealth at a younger age, so we face younger and younger clients for important pieces, which was not the case in the past.” – Read More on SCMP
3. Retail sales rose more than expected in June as consumers remain resilient despite inflation: Advance retail sales increased 1% for the month, better than the Dow Jones estimate of a 0.9% rise. That marked a big jump from the 0.1% decline in May. – Read More on CNBC
4. Online retailers are feeling the pain as pandemic-driven e-commerce slows: Now that the pandemic-driven e-commerce boom has slowed, small and medium businesses who sell products on Amazon are feeling the squeeze. – Read More on NPR
5. After Corvette Failure, Automakers Tread Carefully Into NFTs: Chevy paired a digital image of a Corvette Z06 in a Blade Runner-style cityscape, with a real-life 2023 ’Vette custom-painted to match the artwork. The automaker’s acid-green duo failed to receive a single bid. – Read More on Bloomberg
