Latest News & AnalysisThe News in BriefShares of Abercrombie were down 7.4 percent in Monday premarket trading in New York. The retailer’s shares soared 69 percent last year.The group, the first in the luxury sector to report 2024 preliminary sales, said on Monday its revenues rose to €1.28 billion ($1.31 billion) last year, boosted by a double-digit sales growth in the Americas and Asia.The retailer’s has lowered sales forecast for the current quarter signalled that its expectations for a strong holiday season may have been too optimistic, as comparable sales remained flat through early January.The company has raised its fourth-quarter sales outlook, expecting a revenue increase of 11 percent to 12 percent, signalling resilience against rising competition and slowing consumer spending.Lauder, who is the son of the cosmetics company’s founder Estée Lauder, joined the business in 1964 and has served on its board for over 45 years.In a memo to employees, Candi Castleberry, a senior human resources executive, said last month that Amazon was ‘winding down outdated programmes and materials.’The lack of response by Shein’s general counsel for questions about its supply chain at a committee hearing on Tuesday made lawmakers “profoundly concerned,” British parliamentary committee chair Liam Byrne said.A majority of justices suggested they see US national security concerns as overriding the free speech interests of the companies and a group of content creators. view more
