Articles by Prachi Singh
JD Sports acquires Courir for 520 million euros
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JD Sports Fashion has announced the completion of its acquisition of French sneakers player Courir. The company said in a release that the acquisition price is 520 million euros, paid through a combination of existing cash and a drawdown on the company’s revolving credit facility. In the year to December 31, 2023, Courir reported revenue of...
Joseph ropes in Mario Arena as creative director
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British contemporary designer brand Joseph has announced the appointment of Mario Arena as creative director. His first collection for Joseph will be spring summer 2026, which will land in stores in October 2025. Commenting on his appointment at Joseph, Arena said: “Joseph Ettedgui was a visionary who pushed the boundaries in design and...
Urban Outfitters registers strong growth in Q3 sales and earnings
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Urban Outfitters announced third quarter net income of 102.9 million dollars and earnings per diluted share of 1.10 dollars. For the nine months, net income was 282.2 million dollars and earnings per diluted share were 2.99 dollars. The company’s net sales for the quarter increased 6.3 percent to 1.36 billion dollars. “We are pleased to announce...
Guess reports Q3 loss, forecasts earnings below analysts' estimate
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For the third quarter, Guess recorded a GAAP net loss of 23.4 million dollars and GAAP diluted net loss per share of 47 cents. Adjusted net earnings were 17.7 million dollars, down 35 percent, while adjusted diluted EPS decreased 31 percent to 34 cents. Net revenue for the quarter increased 13 percent to 738.5 million dollars. In constant...
Kohl’s posts sales and earnings decline
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Kohl’s third quarter net sales decreased 8.8 percent to 3.5 billion dollars and comparable sales decreased 9.3 percent. Gross margin was 39.1 percent, an increase of 20 basis points, operating income dropped to 98 million dollars and net income declined to 22 million dollars or 20 cents per diluted share. The company said in a release that Kohl’...
Frasers acuires South African sporting goods company Holdsport
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Frasers has announced the conclusion of the acquisition of South Africa's leading sporting, outdoor and recreation goods company, Holdsport from Old Mutual Private Equity (OMPE) and latter’s management. The company said in a release that Holdsport is a diversified business operating across retail, wholesale, manufacturing, distribution, and...
Sosandar sales drop but losses shrink as it transitions away from promotions
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For the first half period, women’s fashion brand Sosandar reported revenue of 16.2 million pounds versus 22.2 million pounds in the same period of the previous year as the group continued to transition away from price promotional activity outside the major scheduled sale events. The company’s gross margin for the period was 62.2 percent versus...
Nike names Treasure Heinle as chief human resource officer
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Nike has promoted Treasure Heinle, chief talent officer, as the company’s new executive vice president and chief human resources officer (CHRO). In her new role, the company said in a release, Heinle will be responsible for leading the global HR function and managing Nike’s People vision and strategy. She succeeds Monique Matheson who has...
Macy’s delays Q3 results after discovering employee hid millions in expenses
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Macy’s has delayed its third quarter results after discovering that one of its employees hid nearly 132 million dollars to 154 million dollars in delivery expenses over the last three years. The company’s net sales for the quarter decreased 2.4 percent to 4.742 billion dollars, with comparable sales down 2.4 percent on an owned basis and down...
Temu parent PDD Holdings Q3 revenues increase by 44 percent
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PDD Holdings in its unaudited financial results statement for the third quarter reported revenues of 99,354.4 million Chinese yuan (14,157.9 million dollars), an increase of 44 percent. “Over the past quarter, our focus remained on driving the high-quality development of the platforms,” said Lei Chen, chairman and co-chief executive officer of...