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Gap Inc said on Thursday it would cut about 1,800 jobs in a second round of layoffs, joining a set of big U.S. companies that are downsizing in earnest as high inflation eats into consumer wallets.
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Coach handbag maker Tapestry Inc forecast annual revenue and profit above estimates after posting better-than-expected results on Thursday, expecting vaccine-aided reopening of economies to boost demand for designer apparel and purses.
The Shanghai Half Marathon, scheduled for Sunday, has scrapped plans to provide runners with Adidas-branded T-shirts, according to messages sent to participants, as the German firm remains under pressure in China over comments it made on cotton from the country's western Xinjiang region.