L Brands Inc., which owns Victoria’s Secret and has powered through a choppy economy, reported August same-store sales that narrowly missed estimates, the latest evidence of weakness among U.S. apparel chains.
U.S. retailers posted October same- store sales that topped analysts’ estimates as rising home values and consumer confidence boosted spending. Gap Inc. and Target Corp. were among chains that trailed projections.
U.S. stocks fell, capping the biggest monthly decline for the Standard & Poor’s 500 Index since September, as disappointment with American economic reports overshadowed optimism that Greece will stay in the euro.
The worst U.S. crop conditions since the dust bowl era of the 1930s are tightening domestic supplies of cotton and boosting prospects for a rebound in prices that fell more than any other commodity this year.
Gap, Nike and Nordstrom may have something in common: Lululemon envy. Seeking to lure shoppers willing to spend $98 on stretchy yoga pants, these retailers are mimicking the strategy of Lululemon Athletica Inc., the sports apparel company known for its pricey yoga gear.