Facing a challenging economic environment, Lululemon Athletica expects its slowest sales growth on record, projecting a 5% to 7% increase for the year, down from 10% last year. CEO Calvin McDonald noted a decrease in consumer spending due to inflation concerns but said strong holiday sales helped and the reception of new products is positive. Lululemon aims to boost brand awareness, especially in China, as it plans to open 40 to 45 new locations globally.

WH Smith has agreed to sell its 480 high street stores to Modella Capital for £76 million, marking the end of the 233-year-old brand's presence on the High Street. The stores will be rebranded as TGJones, while WH Smith retains its travel shops and online business. The sale, which affects 5,000 workers, is part of the UK company's strategy to focus on its growing travel retail sector.

Buyout firms including Bain Capital and PAI Partners are reportedly considering bidding on the water business of Nestle. Nestle could possibly keep a stake in the unit, which has a potential estimated value of around $5.4 billion.

In a bid to strengthen its market in Japan, Guess Jeans has announced a collaboration with Japanese artist Verdy. Nicolai Marciano, the brand's new business development officer, praised Verdy's creativity and ability to inject fun into projects. Verdy, who has collaborated with major brands such as Kenzo and Nike, is excited to work with Guess, appreciating the brand's culture and history.

Amazon will spread its Prime Day sales event over four days this year, making it the longest in the event's history, according to internal communications to third-party sellers. The extension is designed to give customers more time to shop and counter competing sales events from other retailers, and sellers will be able to offer various Prime-exclusive promotions.

Swedish technology firm Fibb is transforming online shopping by integrating 3D and XR technologies into ecommerce platforms. Its plug-and-play solution allows companies to create immersive experiences that reduce return rates, cut marketing costs, increase conversion rates and enhance customer engagement. With recent funding, Fibbl aims to scale its production capacity and enhance its platform capabilities.

Ermenegildo Zegna Group saw its adjusted operating profit drop 16.4% to €184 million, attributed to slow sales in China and weaker wholesale performance, especially at Thom Browne, where wholesale revenue fell by 34%. Despite these challenges, the Italian luxury group's revenues registered at around €1.95 billion, driven by a 6% increase in the Zegna brand, and the group remains optimistic about its future, focusing on local markets in EMEA and the US.

Retail leaders share the experiences that kept them longtime employees, citing great relationships, culture and an environment of support. From assistants to SVPs and other positions in between, leaders at American Eagle Outfitters, McDonald’s and Kroger say mentorship, continued learning and day-to-day relationships make retail a great place to grow a career. Read more.