Nordstrom Inc.’s third-quarter earnings fell short of estimates due to higher labor costs and challenges in its off-price Rack division, whose sales fell from pre-pandemic levels.
Gap Inc. delivered disappointing third-quarter results as COVID-related factory closures and ongoing port congestion led to “significant” product delays.
The 13th annual Alibaba Global Shopping Festival (known colloquially as “11.11” or “Singles Day” proved lucky with an all-time high gross merchandise volume total.