Nordstrom Inc beat market estimates for first-quarter sales on Wednesday as demand from wealthy shoppers cushioned a wider, inflation-driven slowdown in spending on clothing and accessories.

Michael Kors parent Capri Holdings Ltd on Wednesday cut its annual sales forecast as demand for its handbags and shoes weakens in the United States, sending its shares down nearly 9 percent in early trading.

British shop price inflation picked up this month to reach its highest rate since industry records began in 2005, although growth in food prices cooled slightly, a survey showed on Tuesday.

PDD Holdings Inc beat analysts’ estimates for first-quarter revenue on Friday as more price-conscious customers turned to its discount e-commerce platforms including Pinduoduo.

British consumers picked up the pace of their spending last month, and sales volumes over the three months to April grew by the most since mid-2021, according to official data that suggested limited impact from the surge in inflation.

Cosmetics retailer Ulta Beauty Inc cut its annual operating margin forecast on Thursday, signaling pressure from higher inventory shrink and supply chain costs.

Gap Inc on Thursday reported a surprise profit in the first quarter, and its shares jumped 16 percent in extended trading as the apparel retailer cited restructuring efforts and easing supply chain costs.

Investment firm Permira has acquired the majority of Gruppo Florence in a deal which a source close to the matter said valued the hub of Italian luxury clothing and leather goods manufacturers at more than €1 billion ($1.1 billion).