Articles by Prachi Singh
Based in India, Prachi has been associated with FashionUnited for over a decade as freelance editor-finance. She did BA in English Literature from Goa University and then did a diploma in journalism from Xavier Institute of Communications, Bombay. After actively working for various publications in the fashion/apparel and textile space in India, she covers financial reporting, mergers & acquisitions and new appointments at FashionUnited.
Carter's names Douglas Palladini as CEO to drive growth amid retail challenges
Childrenwear retailer Carter's has announced a leadership change amidst a challenging retail landscape. Douglas Palladini is set to take the helm as CEO and president, effective April 3, 2025, signaling a move to bolster the company's direct-to-consumer and global presence. Palladini most recently served as founder and owner of Kickstand, a...
People20 hours ago
Foot Locker elevates Franklin Bracken to president, advancing Lace Up Plan
Footwear and apparel retailer Foot Locker has appointed Franklin Bracken, currently executive vice president and chief commercial officer, as its new president, effective immediately. Bracken will continue to report to CEO Mary Dillon. In his expanded role, Bracken will collaborate closely with Dillon to expedite the implementation of the...
PeopleMar 26, 2025
Justin Ellison promoted to VP of information security at Buckle
Apparel retailer Buckle has announced the appointment of Justin Ellison to the position of vice president of information security, effective February 28, 2025. This move underscores the company's commitment to bolstering its cybersecurity infrastructure. With nearly two decades at Buckle since joining in 2005, Ellison currently serves as senior...
PeopleMar 26, 2025
Fila boosts shareholder returns following strong 2024 results
Sportswear company Fila Holdings has announced an enhanced shareholder return policy, signalling its commitment to delivering long-term shareholder value. This decision follows a year of robust financial performance, driven by growth in its U.S. golf subsidiary and effective cost management. Consolidated revenue for 2024 reached 4.27 trillion...
BusinessMemberMar 26, 2025
Footwear retailer Caleres reports drop in sales and earnings
Fourth quarter net sales at footwear retailer Caleres of 639.2 million dollars, declined 8.3 percent year-over-year. The company also reported a 9.6 percent drop in Famous Footwear segment, with comparable sales down 2.9 percent, while the Brand Portfolio segment also decreased 7.2 percent. Net earnings declined to 11.1 million dollars or...
BusinessMemberMar 21, 2025
Torrid's net income rises despite sales decline in FY24
Women’s plus-size clothing brand Torrid recorded a net sales decrease of 4.2 percent to 1.1 billion dollars for the fiscal year 2024 with a comparable sales decrease of 4.5 percent compared to last year. However, net income rose to 16.3 million dollars or 16 cents per share, and adjusted EBITDA increased to 109.1 million dollars. The company...
BusinessMemberMar 21, 2025
Nike struggles amid sales slump and layoffs, forecasts margin pressure
Nike, a leading sports maker, is facing challenges in a year marked by declining sales and corporate layoffs, as it strives to regain momentum. The company's third-quarter results revealed a 9 percent revenue decrease to 11.3 billion dollars. The gross margin dropped by 330 basis points to 41.5 percent, net income fell 32 percent to 0.8 billion...
BusinessMemberMar 21, 2025
Cato Corp. to close stores and cut jobs in response to financial struggles
The Cato Corporation reported a net loss of 14.1 million dollars or 74 cents per diluted share for the fourth quarter ended February 1, 2025. Sales for the quarter of 155.3 million dollars, decreased 10 percent and comparable sales also decreased 5.1 percent. "Our fiscal 2024 sales trend was negatively impacted by continued pressure on our...
BusinessMemberMar 20, 2025
Shoe Carnival posts FY24 sales growth, cautious on FY25 forecast
Footwear retailer Shoe Carnival reported net sales of 1.203 billion dollars, up 2.3 percent for fiscal 2024 driven by continued growth from Shoe Station’s 5.7 percent net sales growth and over 80 million dollars in net sales from Rogan’s, partially offset by a 3.9 percent comparable store sales decline, driven by Shoe Carnival. Net income grew...
BusinessMemberMar 20, 2025
Destination XL Q4 sales decline amid retail challenges
Men’s Big + Tall clothing retailer Destination XL Group’s (DXL) sales for the fourth quarter were 119.2 million dollars, down 13.1 percent and comparable sales decreased 8.7 percent. The company’s net income reduced to 2 cents per diluted share versus 10 cents in the previous year. Adjusted EBITDA also declined to 4.2 million dollars. In the...
BusinessMemberMar 20, 2025