GlobalData

Bed Bath & Beyond Renames to Neighborhood Intelligence, Moves HQ

Bed Bath & Beyond Inc. announced a corporate name change to Neighborhood Intelligence and will begin trading on the Nasdaq under the ticker NXH effective Aug. 17, with its last day on the NYSE on Aug. 14. The company is relocating its headquarters from Murray, Utah, to Nashville, Tennessee. The moves align with a three-pillared turnaround strategy emphasizing omnichannel retail, digital/financial/insurance/blockchain services, and expansion beyond home retail — including an AI-powered home operating system. CEO Marcus Lemonis highlighted recent acquisitions (Closet Works, Lumber Liquidators, Fathom, The Brand House Collective) as part of building services. The company reported Q2 revenue of $361 million, up 28% year-over-year, an expanded net loss of $39 million, 6.4 million active customers (up 47% YoY), and provided Q3 revenue guidance of $505–525 million with margins around 30%.

Capri Q1: Michael Kors Drags, Jimmy Choo Up 10%

Capri Holdings reported mixed Q1 fiscal 2027 results: revenue fell 3.5% year-over-year to $769 million (currency-adjusted -4.1%), while profitability improved. Gross margin widened to 65%; operating income was $17 million, adjusted operating margin 3.6%, and net income rose to $69 million. Brand performance diverged: Michael Kors revenue declined more than 7% to $590 million, while Jimmy Choo sales grew over 10% to $179 million and delivered stronger operating margins. Capri trimmed full-year revenue guidance to about $3.4 billion but maintained an EPS target near $2.15, citing inventory timing, weaker EMEA trends and FX headwinds (including expected inventory delays and regional sales weakness). Management reduced inventories ~20%, repurchased $50 million of shares, lowered net leverage, and is cutting discounts and boosting marketing at Michael Kors.

Adidas apparel outshines footwear in World Cup quarter

Adidas reported a 13% year-over-year increase in second-quarter revenues to €6.7 billion, led by a 34% jump in apparel net sales while footwear remained flat and accessories rose 18%. Direct-to-consumer (DTC) net sales grew 24% versus 6% wholesale growth. The company increased marketing and point-of-sale spending by 30% to capitalize on the World Cup, which weighed on Q2 operating margin. Adidas announced a CFO transition: outgoing CFO Harm Ohlmeyer will be succeeded by former Adidas employee Birgit Kretschmer, who will join the executive board on Sept. 1. Regional strength came from Latin America, North America and Greater China.