Articles by Huw Hughes
Wolverine Worldwide lowers FY outlook after missing on revenue
14 hours ago - Management
Wolverine Worldwide has cut its full-year revenue outlook after missing its expectation in the second quarter of the year. In the three months to July 2, the US company made revenue of 713.6 million dollars, up 12.9 percent from the prior year and up 25.5 percent from two years ago. Its international business performed particularly well, with...
Dutch retail giant Ahold Delhaize postpones IPO of Bol.com
15 hours ago - Management
Dutch retailer Ahold Delhaize has announced the postponement of its planned IPO of e-tailer Bol.com. The company had originally planned for an IPO in the second half of the current fiscal year, but has now said it will “revisit” the plan “when equity market conditions are more conducive”. The news came as Ahold reported net sales of 21.4 billion...
Sustainability pop-up opens on Regent Street
17 hours ago - Retail
The Crown Estate has teamed up with independent designer concept store Lone Design Club to open a sustainability-focused pop-up store on London’s Regent Street. The pop-up, named The Conscious Edit, will shine a spotlight on emerging brands, companies, and individuals “working hard towards a more sustainable future”. It will bring together “...
Ralph Lauren Q1 revenue up 8 percent, beating estimates
Aug 9, 2022 - Management
Ralph Lauren beat revenue expectations in the first quarter of the year. The US fashion brand reported net revenue of 1.5 billion dollars, an increase of 8 percent compared to the previous year, or 13 percent on a constant currency basis. Breaking it down by geography, revenue in Ralph Lauren’s home market of North America was up 6 percent to...
Capri Holdings beats Q1 revenue, profit estimates
Aug 9, 2022 - Management
Michael Kors owner Capri Holdings made revenue of 1.36 billion dollars in the first quarter ended July 2, up 8.5 percent compared to last year, or up 15.2 percent on a constant currency basis. Breaking it down by brand, Michael Kors - the group’s biggest label - reported revenue of 913 million dollars, up 4.8 percent on last year. Meanwhile,...
Record temperatures and rising inflation hit UK footfall in July
Aug 8, 2022 - Retail
Image: Pexels Record high temperatures and rising inflation amid the cost-of-living crisis deterred consumers from visiting physical stores in July, new data shows. Footfall in the UK decreased by 14.2 percent compared to levels from the same month three years ago, prior to the pandemic, according to the latest BRC-Sensormatic IQ Footfall...
Next in talks to snap up stake in Joules
Aug 8, 2022 - Management
British lifestyle group Joules has confirmed it is in talks with Next about a potential equity investment. It follows a report on Saturday by Sky News that said high street giant Next was in detailed negotiations about buying a 25 percent stake in Joules. Joules said in a statement Sunday: “Joules confirms that it is in discussions with Next Plc...
Caleres: Diane Sullivan to step down as CEO, successor announced
Jul 26, 2022 - Fashion
US footwear group Caleres has announced that CEO Diane Sullivan is to step down after more than a decade in the role to assume the position of executive chair. Sullivan joined Caleres as president in 2004 before taking on the additional role of chief operating officer in 2006. She was then appointed CEO and president in 2011, before being named...
True Religion appoints senior vice president of e-commerce
Mar 29, 2022 - Report
US denim and sportswear brand True Religion has named Scott McCabe as its new senior vice president of e-commerce. McCabe has over 25 years of experience in e-commerce and has worked at big-name fashion companies including Columbia Sportswear, where he spent four years as senior director of e-commerce, during which time the US company’s...
Delta Apparel Q3 sales up 7 percent, but profits narrow
Aug 5, 2022 - Report
US lifestyle and activewear company Delta Apparel has reported a 7 percent increase in sales in the third quarter of the year. In the three months to July 2, net sales came in at 126.9 million dollars, up from 118.7 million dollars a year earlier. Sales at the company’s Delta Group segment rose 3 percent to 106 million dollars, while sales in...