GLOBAL RETAIL NEWS Gucci builds a town on Roblox Italian fashion label Gucci has built a new digital destination called Gucci Town on Roblox, an online game platform and game creation system, to help visitors discover more about the House and its heritage. It will also feature the Gucci Shop—a boutique where visitors can purchase digital Gucci items to collect or to dress up their Roblox avatars. The Town takes on the form of a piazza—an open-air square that for centuries has been a spot for people to meet and express themselves. Surrounding the central area is a series of spaces including Mini Game Heights, Vault Plaza, Creative Corner, Craftsmanship Court, Selfie Way and Power-up Place, apart from the Gucci Shop. Gucci Town will allow visitors to connect with like-minded individuals from all over the world, the company said on its website. Brands like Gucci, Nike and Ralph Lauren have all released digital collections and limited-edition items through platforms like Roblox, a children’s gaming site that had 49.5 million daily active users spanning 180 countries in Q4 of 2021. During play, customizable avatars can now sport Polo beanies, carry Gucci Dionysus purses or wear the newest Nike sneakers.
US retailer Macy’s comparable sales up 10.7% in Q1 FY22 US-based retailer Macy’s comparable sales were up 10.7 per cent in the first quarter (Q1) of fiscal 2022 (FY22). Approximately 44.4 million active customers shopped the Macy’s brand, on a trailing twelve-month basis, which was a 14 per cent increase compared to the prior year. “Our company delivered solid results in the first quarter despite a challenging operating environment. We delivered strong earnings, beating our estimates, and sales that were in line with our expectations.While macroeconomic pressures on consumer spending increased during the quarter, our customers continued to shop. We saw a notable1 shift back Emblemtek_Imprint_May-June-2022.pdf 05-03-2022 to occasion-based apparel and in-store shopping, as well as
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IMPRINT CANADA Source: Fibre2Fashion.com
continued strength in sales of luxury goods. Our omni-channel ecosystem, which spans the value spectrum, has supported our ability to flex our wide assortment of categories, products and brands to capture consumer demand despite the volatile environment,” said Jeff Gennette, chairman and chief executive officer of Macy’s, Inc.
Gap’s sales fall 13 per cent to US$3.5 billion in Q1 FY22, Online sales drop 17 per cent Net sales for American clothing retailer Gap in the first quarter of 2022 were US$3.5 billion, down 13 per cent compared to last year. In the first quarter, online sales declined 17 per cent compared to last year and represented 39 per cent of total net sales. Store sales declined 10 per cent compared to last year. “Our Q1 results and updated fiscal 2022 outlook primarily reflect industry-wide headwinds as well as challenges at Old Navy that are impacting our near-term performance. While we are disappointed to deliver results below expectations, we are confident in our ability to navigate the headwinds and re-stabilise the Old Navy business in order to deliver continued progress on our long-term strategy,” said Sonia Syngal, CEO, Gap Inc. “We believe that we can navigate this period of acute disruption and build an even more resilient and agile company. We remain anchored by our belief in our iconic purpose-led brands – Old Navy, Gap, Banana Republic, and Athleta – and are focused on making continued progress against our Power Plan strategy and getting back on track toward delivering growth, margin expansion, and value for our shareholders over the long term.” “We are revising our fiscal 2022 outlook to reflect the impact of certain factors impacting our near-term performance, including execution challenges at Old Navy, an uncertain macro consumer environment, inflationary cost headwinds, and a slowdown in China that is impacting Gap Brand,” said Katrina O’Connell, executive vice president and chief 2:08 PM financial officer, Gap Inc.
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