Daily LInks
1. Zara’s US Clothing Sales Help Swell Top Line as Dollar Surges: The Spanish clothing giant affirmed in June that the American market was the second-largest contributor to revenue. The US is expected to account for 10% of sales in 2022, up from 8% in 2021. – Read More on Bloomberg
2. Where Walmart, Amazon and Target are spending billions in a slowing economy: Investments made by big-spending leaders are likely to result in taking customers from weaker rivals next year, when consumer discretionary cash flow is forecast to rebound from a year-long 2022 drought and revive shopping after spending on goods actually shrank early this year. – Read More on CNBC
3. Luxury Brands Prepare for “Millennial Domination.” Plans revolve around the changing styles and increasing buying power of millennials and Gen Z customers, with Tapestry coining the term “expressive luxury” to describe the new direction for Coach. – Read More on PYMNTS
4. Rent the Runway shares sink as inflation-weary subscribers hit pause: Soaring prices of gasoline and groceries have forced shoppers to curb spending on apparel and other discretionary items, bruising sales of clothing companies that were just beginning to recover. – Read More on Reuters
5. Kanye West Is Done With Corporate America: There are obstacles to a clean break. Foremost are his high-profile, long-term arrangement with adidas to produce sneakers like the Yeezy Boost 350, which expires in 2026, and an agreement with Gap that ends in 2030. – Read More on Bloomberg
