Articles by Prachi Singh
Roots chief product officer Karuna Scheinfeld to step down
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Karuna Scheinfeld, chief product officer of Roots Corporation will be stepping down at the end of 2024. The company said in a release that it does not intend to replace Scheinfeld; however, it has commenced a search for senior-level design talent with international experience in the outdoor and active sectors to support these fast growing areas...
WBA appoints Anthony Hemmerdinger as MD of Boots UK and Ireland
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Walgreens Boots Alliance (WBA) has announced the appointment of Anthony Hemmerdinger as managing director of Boots UK and Ireland, effective November 4, 2024. The company said in a release that this follows the announcement in July that Seb James would be stepping down in November after six years to pursue a new role in the healthcare sector....
Caleres lowers sales and earnings forecast
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Caleres reported sales of 683.3 million dollars for the second quarter, down 1.8 percent. Caleres has lowered fiscal 2024 outlook of net sales to down low-single-digits percent versus previous guidance of flat to up 2 percent; and earnings per diluted share to 3.94 dollars to 4.09 dollars versus prior guidance of 4.30 dollars to 4.60 dollars and...
Tilly’s co-founder Hezy Shaked takes over CEO role
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Tilly’s, Inc. has appointed Hezy Shaked, the company’s co-founder and executive chairman of the board, as its president and chief executive officer. “As the co-founder of this 42-year-old company, there is no one who cares about it more deeply than I do. I remain fully committed and enthusiastic about making every effort to work toward improving...
Vera Bradley’s revenues decline in the second quarter
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Vera Bradley’s second quarter net revenues reduced to 110.8 million dollars. Net income for the quarter declined to 5.7 million dollars or 19 cents per diluted share. On a non-GAAP basis, the company’s net income totaled 3.9 million dollars or 13 cents per diluted share. “Our results for the period were also influenced by stubbornly persistent...
The Children’s Place swings to profitability
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Second quarter net sales at The Children’s Place decreased 25.9 million dollars or 7.5 percent to 319.7 million dollars driven by an anticipated decrease in ecommerce revenue to improve profitability. Comparable retail sales decreased 7.2 percent for the quarter. However, net loss reduced to 32.1 million dollars or 2.51 dollars per diluted...
John Lewis narrows losses, on track to deliver higher full year profit
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John Lewis Partnership reported sales of 5.9 billion pounds in the first half, up 2 percent year-on-year, while revenue was up 2 percent to 5.2 billion pounds. The company said that the Partnership is on track to deliver significantly higher full year profit above the 42 million pounds reported in 2023/24. Commenting on the first half trading,...
Designer Brands lowers full year outlook
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Designer Brands’ net sales decreased 2.6 percent to 771.9 million dollars in the second quarter, while comparable sales decreased by 1.4 percent. Lowering its full year outlook, the company said it now expects net sales growth in the flat to low-single digits and adjusted diluted EPS in the range of 50 to 60 cents. "We saw sustained pressure on...
Zara-owner Inditex posts sales and profit growth
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In the first half period, Inditex recorded sales growth of 7.2 percent to reach 18.1 billion euros, showing a positive development both in stores and online. Sales were positive across all concepts. Sales in constant currency grew by 10.2 percent. Commenting on the first half trading Óscar García Maceiras, Inditex CEO said in a statement: “The...
India's Reliance Retail partners with Delta Galil
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Indian retailer Reliance Retail and Delta Galil, manufacturer and marketer of intimate, activewear, loungewear and denim apparel have announced a 50/50 strategic partnership in India. The company said in a release that through this partnership Delta Galil plans to expand its footprint in the growing Indian market, offering its portfolio of...