Articles by Huw Hughes
Aeffe FY revenue up 8.4 percent, exceeding pre-Covid levels
Jan 27, 2023 - Management
Luxury fashion group Aeffe has reported revenue of 352 million euros in its preliminary 2022 results, surpassing pre-pandemic levels from 2019. Revenue for the group, whose portfolio includes brands Moschino, Alberta Ferretti, Philosophy di Lorenzo Serafini, and Pollini, increased 8.4 percent from a year earlier, or 7.7 percent at constant...
Foot Locker announces exec exit, job cuts, and wind-down of Sidestep in Europe
Jan 27, 2023 - Management
Foot Locker shared a variety of news Thursday as it became the latest fashion company to announce job cuts. The New York-based specialty athletic retailer said in a regulatory filing that it would be cutting “a number of corporate and support roles” in order to streamline the business and enhance its operational efficiency. As a result of the...
Superdry lowers FY profit outlook as H1 wholesale underperforms
Jan 27, 2023 - Management
Superdry has lowered its profit outlook for the full year due to its wholesale segment underperforming in the first half and “increasing uncertainty on Q4”. The British fashion retailer now expects to broadly break even for the year compared to its previous guidance of an adjusted pre-tax profit of between 10 million pounds and 20 million...
Levi Strauss beats Q4 estimates despite drop in revenue, profit
Jan 26, 2023 - Management
Levi Strauss was upbeat on its 2023 outlook Thursday as its fourth quarter results beat analysts’ estimates. The US denim giant reported 6 percent drop in revenue in the quarter ended November 27 as growth in its direct-to-consumer (DTC) channel was offset by a drop in wholesale. Fourth-quarter revenue at the US denim giant was flat on a...
Crew Clothing Christmas sales boosted by partnerships and partywear
Jan 25, 2023 - Management
Crew Clothing has hailed a “strong Christmas performance” thanks in part to partnerships with high street retailers and a return in demand for partywear. The British lifestyle brand reported a 15 percent increase in sales in the seven weeks to January 8. On a like-for-like basis, sales rose 9 percent. “Despite the challenging sector backdrop,...
VIA Outlets reports record 2022 brands sales of 1.2 billion euros
Jan 25, 2023 - Report
European shopping mall operator VIA Outlets enjoyed a “record-breaking” year in 2022 with brand sales across its portfolio increasing 2 percent year-on-year to reach 1.2 billion euros. That figure was also 3 percent above pre-pandemic levels from 2019. The company, which operates 11 outlet shopping centres in nine countries across Europe, said...
Watchmaker Bremont secures 48.4 million pounds in funding
Jan 24, 2023 - Report
British watchmaker Bremont has secured an investment of 48.4 million pounds (59 million dollars) following a record year. The funding came from investors Bill Ackman and his affiliate, alongside existing investor Hellcat LP. “This new capital will enable us to invest in marketing, distribution, and talent,” said Bremont co-founder Giles English...
Inter Parfums reports record Q4 sales, reiterates FY23 guidance
Jan 24, 2023 - Report
Inter Parfums has reported record net sales of 311 million dollars in the fourth quarter ended December 31. That’s a 47 percent increase on the 211 million dollars it posted in the prior year period. In constant exchange rates, sales were up 57 percent. CEO and chair Jean Madar told investors: “As we reported earlier this month, the fourth...
In The Style lowers FY profit guidance
Jan 23, 2023 - Management
Womenswear brand In The Style has lowered its full-year profit outlook as a drop in demand and other factors impacted the important Christmas quarter. The Manchester-based company reported a 22 percent drop in revenue in the three months to December 31, while direct-to-consumer (DTC) revenue fell 13 percent. It comes after the company launched a...
UK retail sales fall in December, but fashion sales rise
Jan 20, 2023 - Retail
The volume of retail sales in the UK dropped in December during the important Christmas trading period, but fashion sales increased slightly. Retail sales volumes are estimated to have dropped 1 percent last month following a drop of 0.5 percent in November, according to the latest figures from the Office for National Statistics (ONS). On a...