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Image: Burberry
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1. Burberry’s Back but It Needs a New Boss: A big part of Gobbetti’s goal at Burberry was elevating the company from something that was simply premium to the top echelons of luxury. He’s stabilized it since joining in July 2017. That’s evident from same store sales, which have risen 90% from the year earlier in the three months to June 26, ahead of analysts’ expectations. They were just above pre-pandemic levels, too. – Read More on Bloomberg

2. Young Consumers, Bags Boost Burberry’s Sales, as Jewelry and Americas Create Triple-Digit Rise for Richemont. Burberry touted sales of $662 million for the latest 3-month period (up 86 percent on a year-over-year basis), as younger consumers and demand for handbags, outerwear, and footwear helped to push revenue back above pre-pandemic levels. – Read More on TFL

3. Victoria’s Secret launches store makeover, ditching racy images of Angels and replacing bubblegum pink interiors with a toned-down look:  The company updating its stored to create a place that is “more inviting for women to enter.” It’s a major part of the company’s turnaround effort and its goal to transform the brand into the world’s leading advocate for women. – Read More on Business Insider

4. At the same time … Victoria’s Secret says it will bring back iconic fashion show — one day. “We have historically had a very significant amount of our marketing spend that was around the fashion show, and we saved that money in the last two years,” Victoria’s Secret CEO Martin Waters said during a virtual presentation. “Our intent is to get back into the fashion show business.” – Read More on CNBC

5. Gen Z doesn’t know a world without fast fashion: Resale apps like Depop and Poshmark have popularized secondhand or vintage buying and selling. Yet, their existence isn’t enough to curtail Gen Z’s enthusiasm toward well-known brands — even those with sustainable shortcomings. – Read More on Vox

6. July retail market: US sales post surprise increase in June; inflation jumps: Government stimulus is most likely helping to boost consumer spending, but raises questions about the second half of 2021 once the stimulus ends, according to experts. – Read More on S&P Global