Forever 21’s operator in the US filed for Chapter 11 bankruptcy, listing assets of $100 million to $500 million and liabilities of $1 billion to $5 billion. The company, known for popularizing fast fashion, struggled to compete with online retailers, leading to its second bankruptcy filing in 2023. After being bought out of bankruptcy in 2019, Forever 21’s operator Sparc Group signed an agreement with Shein, a Chinese e-commerce retailer, allowing Shein to buy a third of Sparc’s shares and potentially operate stores within Forever 21 outlets.
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CrowdStrike: Higher Sales, Higher Costs
CrowdStrike (NASDAQ: CRWD) recently released its financial report as it approaches the one-year mark since a significant global outage in July 2024. The cybersecurity firm exceeded earnings per share (EPS) estimates while matching revenue, although it experienced declines in earnings, free cash flow, and annual recurring revenue (ARR) compared to the previous year. The company is making strides in recovery from the incident, as indicated by these financial results. Full Article
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