The apparel retailer said it plans to focus on moderating growth in inventories. Banana Republic was the only chain in the company's portfolio reported sales growth.

Farfetch Operating Loss Expands

Aug 26, 2022
Scott Peters
The acquisitive online luxury fashion platform operator struck another deal as the operating losses mount and gross merchandise value on the platform stalls.

FTCH
The online payment lending plan provider reported quarterly loss widened on higher provisions for loan losses and processing costs.

AFRM
OpenText agreed to acquire Micro Focus for $6 billion. Gap withdrew its annual outlook and struggles with inventory surge and falling sales. Ulta Salon revised annual outlook slightly higher. Farfetch's operating loss in the quarter surged.

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Fed Chairman Powell reiterated the central bank's commitment in combating inflation and highlighted that slower economic growth, higher rates and softer labor market conditions will inflict pain on households.

This week's earnings highlight diverging consumer trends. Demand for high-priced goods and services are still booming but at a slower pace and customers at the low-end are struggling to meet ends in the face of high energy and food prices.

The deep discount retailer said quarterly sales and earnings rose but the company anticipates weakening demand from its core customer base in the second-half.

DLTR


The beleaguered fitness equipment maker reported a large quarterly loss after the company marked down prices to clear inventories and shift focus to subscription revenues.

PTON
Higher fuel prices and food prices are driving more families to deep discount stores as consumers stick to the purchase of basic items in smaller quantities.

DG
The design software developer quarterly sales and earning rose as more companies accelerate design and manufacturing collaboration using cloud computing.

ADSK
The teenage apparel retailer said overall sales declined on the weakness in Hollister brand and deteriorating global environment.

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U.S. economy in the second quarter contracted at a smaller rate but a measure of inflation rose faster than previously estimated. Energy prices edged lower but traded near recent highs.

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The luxury retailer reported rising sales and earnings in the second quarter but the company plans to cut costs and inventories as the demand weakens at its outlet stores.

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Stocks on Wall Street and in Europe closed higher for the second day in a row. Federal Reserve stepped up high-inflation rhetoric. Crude oil and natural gas prices advanced despite the demand worries from China.



The operator of Chili's and Maggiano's restaurant chains struggled with rising food and labor costs. Comparable restaurant sales continue to decelerate in the quarter.

EAT