The Weekly Closeout: Fred Segal closes remaining stores and Foxtrot plots its comeback

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Retail Dive 18h ago

The Weekly Closeout: Fred Segal closes remaining stores and Foxtrot plots its comeback - Retail Dive

Quick Summary:

Los Angeles fashion loses a retail icon and after abruptly closing stores this spring Foxtrot team members promise a return to the company’s roots.

When asked about any fallout from the controversy, CEO Hal Lawton said the company “certainly heard a range of feedback,” but that “we have no evidence that it had a measurable impact on our business.Net sales in Q2 rose 1.5% to $4.25 billion, and comps declined.

But company executives last week did take questions from analysts regarding their decision during the company’s Q2 earnings call.