Articles by Prachi Singh
Kering board to nominate appointment of three new independent directors
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Kering’s board of directors will propose the appointment of three new independent directors, Rachel Duan, Giovanna Melandri and Dominique D’Hinnin, at the annual general meeting on April 25, 2024. Rachel Duan, a Chinese national, the company said in a release, held several senior leadership roles in the United States, Japan and China during her...
Lenzing loss widens to 20.02 euros per share
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Subdued demand and the continued rise in raw material and energy costs negatively impacted Lenzing Group’s earnings in the 2023 financial year. While the company’s revenue remained comparatively stable at 2.52 billion euros, earnings after tax were negative 593 million euros and earnings per share were negative 20.02 euros. The company said in a...
Puig records strong revenue and profit growth
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Puig closed 2023 with net revenues of 4,304 million euros, an increase of 19 percent. The company also reported a 19 percent growth on comparable perimeter and at constant exchange rates, with double-digit growth across all segments and geographies. Puig reached an EBITDA of 849 million euros, a 33 percent increase, representing an EBITDA margin...
BestSecret Group achieves FY23 revenue growth of 16.7 percent
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BestSecret Group, a European destination in off-price fashion, achieved FY23 revenues of 1,226 million euros for the year, a 16.7 percent increase. The company said in a statement that the growth was driven by an increase in the number of active customers combined with robust order economics and a successful international expansion. The company...
Ulta Beauty posts 2.5 percent increase in Q4 comparable sales
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Fourth quarter net sales at Ulta Beauty increased 10.2 percent to 3.6 billion dollars due to increased comparable sales, new store performance, strong growth in other revenue, and the benefit of an extra week of sales in fiscal 2023. Comparable sales increased 2.5 percent, driven by a 4.5 percent increase in transactions and a 1.9 percent...
Safilo 2023 profit plunges 76 percent
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Safilo Group closed the year 2023 with net sales of 1,024.7 million euros, down 2.3 percent at constant exchange and 4.8 percent at current exchange rates. Its full-year adjusted net profit declined by 76 percent to 14 million euros, while its adjusted core profit stood at 92 million euros, down 9.1 percent year on year. In the year, the company...
Aeffe's 2023 loss widens to 32.1 million euros
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Aeffe revenues in 2023 equaled 319 million euro, a decrease of 9 percent at constant exchange and 9.5 percent at current exchange rates. The company adjusted EBITDA declined to 12.4 million euros and adjusted EBIT was negative 20.5 million euros. Net loss widened to 32.1 million euros compared with 9 million in 2022. Commenting on the trading...
Brunello Cucinelli records strong growth in revenue and profit
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In 2023, revenue of 1.2 billion euros at Brunello Cucinelli increased 23.9 percent at current exchange and 26 percent at constant exchange rates, the EBIT rose 39.4 percent to 187.4 million euros, and net profit increased 42 percent to 123.8 million euros Following a positive performance in the first few months of the new fiscal year and the...
Dick’s Sporting Goods delivers strong holiday quarter
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Dick’s Sporting Goods full year revenues of 13 billion dollars increased 5 percent and the company delivered a 2.4 percent comparable store sales growth, driven by a 1.6 percent increase in transactions. The company’s fourth quarter revenues increased 7.8 percent to 3.9 billion dollars with comparable sales growth of 2.8 percent. The company’s...
Showroomprivé achieves positive GMV and revenues growth in 2023
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In 2023, Showroomprivé achieved a gross merchandise volume (GMV) of one billion euros, representing a 6.3 percent increase compared to the previous fiscal year. The company said, revenue amounted to 677.7 million euros, up by 3 percent compared to 2022, despite economic deterioration in the latter part of the year affecting second-half activity,...