Articles by Prachi Singh
Tory Burch posts sales and profit growth in UK and Germany
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American lifestyle brand Tory Burch’s UK arm has reported a revenue increase of 16.4 percent to 28.44 million pounds for the year to December 30, 2023. The company attributed the increase in annual sales to strong ecommerce operations and increased sales in the group’s retail stores. The company operates three stores in the UK and two retail...
Reiss increases sales and profit despite "challenging year"
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For the year to January 27, 2024, women’s, men’s and children’s fashion brand Reiss reported total sales of 346 million pounds, an increase of 8.1 percent versus the previous year. The company said in a filing that pre-tax profit for the year of 32.1 million pounds was 10.2 percent above the last year. The company added that it managed to...
Chris Quinn to assume CEO role at Shoes For Crews
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Shoes For Crews, provider of slip-resistant safety footwear solutions, has announced that Chris Quinn will assume the role of chief executive officer beginning on January 1, 2025. Quinn, the company said in a release, is an accomplished executive experienced in the retail, e-commerce, footwear, and apparel industries who has served as a director...
Fewer stores and warm weather impact Reitman's Q3 results
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Reitmans’s (RCL) third quarter net revenues decreased by 2.9 percent to 187.7 million Canadian dollars primarily due to 11 fewer stores and unfavourably warm autumn weather. Comparable sales for the quarter under review decreased by 1.9 percent. "The quarter was impacted by warmer weather delaying sales of fall apparel. However, we achieved a...
After negative Q2, Nike's new CEO hints at turnaround plan
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Nike’s second quarter revenues were 12.4 billion dollars, down 8 percent on a reported basis and down 9 percent on a currency-neutral basis compared to the prior year. Gross margin for the quarter decreased 100 basis points to 43.6 percent, while net income was 1.2 billion dollars, down 26 percent, and diluted earnings per share were 78 cents, a...
Footwear brand Joybees names Ken Dayley as chief executive officer
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Casual footwear brand Joybees has named Ken Dayley as the company's chief executive officer. Dayley brings over 15 years of experience to the brand founded in 2018 in Denver, Colorado. Commenting on the new appointment, Joey Separzadeh, chairman of the board of Joybees, said: "Ken’s ability to quickly assess and identify the growth potential for...
The Children’s Place expects to report positive Q4
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The Children’s Place in its preliminary partial fourth quarter results statement said that net sales for the six-week increased 3.4 percent. However, comparable retail sales decreased 8.9 percent for the reporting period driven by decreases in e-commerce revenue. In terms of channel sales results during the period under review, the company...
Douglas Group posts strong full year trading results
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European omnichannel beauty player Douglas Group recorded sales growth of 8.7 percent to 4.45 billion euros for FY23/24 with store sales up 8.2 percent or 7.5 percent like-for-like and ecommerce up 9.8 percent or 12.1 percent LFL. Adjusted EBITDA for the year amounted to 808.6 million euros – an increase of 11.4 percent, corresponding to an...
Prada and EssilorLuxottica renew eyewear licensing agreement
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Prada Group and EssilorLuxottica have announced the renewal of their licensing agreement for the development, production and worldwide distribution of eyewear under the Prada, Prada Linea Rossa and Miu Miu brands. Commenting on the development, Patrizio Bertelli, Prada Group chairman, said: “We are pleased to announce the renewal of this...
Birkenstock's Q4 and fiscal 2024 results beat expectations
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Birkenstock Holding reported fiscal 2024 revenue growth of 21 percent on a reported and 22 percent on a constant currency basis to 1.8 billion euros, ahead of the company's guidance of 20 percent, driven by continued strong and growing consumer demand for its products across all segments, channels and categories. The company said fourth quarter...