Articles by Huw Hughes
SMCP: Q3 sales slide as demand in Europe, Americas falters
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French premium group SMCP has reported a 4.4 percent drop in sales in the third quarter as it faced a challenging trading backdrop. The group, whose portfolio comprises labels Sandro, Maje, Claudie Pierlot, and Fursac, generated sales of 294.9 million euros in Q3, down from 308.4 million euros a year earlier. Breaking it down by brand, sales at...
Zegna Group Q3 revenue up 20.8 percent, US market shines
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Thom Browne parent Zegna Group has reported a 20.8 percent increase in revenue in the third quarter as it saw double-digit growth across key markets, including a particularly strong performance in the US. The group generated Q3 revenue of 431.1 million euros, up from 356.9 million euros a year earlier. Breaking it down by segment, revenue at...
Puma Q3 constant-currency sales up 6 percent, reaffirms FY outlook
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Puma has said it is “well on track” to achieve its full-year guidance as sales increased in the third quarter, but its profit narrowed. The German sportswear giant generated revenue of 2.3 billion euros in Q3, an increase of 6 percent on a constant-currency basis, driven by its biggest market, EMEA, where sales rose 9.9 percent to 1 billion...
Richemont, Farfetch receive EU antitrust green light for YNAP acquisition
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Luxury conglomerate Richemont has received approval from the European Commission (EC) to go ahead with its sale of Yoox Net-a-Porter (YNAP) to luxury fashion platform Farfetch. Richemont, the group behind brands including Cartier and Montblanc, announced last year plans to sell a 47.5 percent stake in Italy’s YNAP to the UK’s Farfetch....
New Look posts FY pre-tax loss, completes refinancing deal
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High street fashion retailer New Look has completed a 100 million pound refinancing deal which it says it will use to boost its future growth plans. The company reported a pre-tax loss for the year ended March 25 that widened to 87.8 million pounds from 25.5 million pounds the previous year. This loss included an impairment charge of 47.4...
Frasers Group acquires German sports retailer SportScheck
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Another day, another acquisition for Frasers Group. This time the British fashion giant has snapped up German sports retailer SportScheck for an undisclosed sum as it looks to boost its presence in the market. SportScheck, formerly owned by Signa Retail Department Store Holding GmbH, is a leading figure in the German sportswear market, with a...
THG Q3 revenue falls, but full-year outlook remains unchanged
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British retail giant THG has reiterated its full-year guidance despite reporting a 4.4 percent drop in revenue in the third quarter of the year. The group, which owns a number of fashion, beauty, and nutrition brands including Lookfantastic and Myprotein, said its performance improved progressively each month of the quarter. Despite the drop,...
Pepco Group: Q4 revenue up 12.5 percent despite 'challenging' trading environment
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Discount retail giant Pepco Group has reported strong fourth-quarter revenue growth and record full-year sales despite a “challenging market backdrop”. The group, which owns the Pepco and Dealz brands in Europe and Poundland in the UK, generated revenue of 1.44 billion euros in the three months ended September 30, up 12.5 percent on a...
Birkenstock shares slide in NYSE debut
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Shares in German footwear specialist Birkenstock fell over 10 percent on its first day of trading on the New York Stock Exchange. The company had set its initial public offering (IPO) price at 46 dollars per share - just below the middle of its previously announced target price range of between 44 dollars and 49 dollars. However, its share price...
Asos: Two senior directors step down
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British fashion e-tailer Asos is saying goodbye to two senior directors as it rearranges its product team. Brands director James Barron is leaving the business later this month, while menswear product director Stefan Pesticcio is exiting at the end of the year, Retail Week first reported. Asos confirmed the two departures to FashionUnited. The...